NIRSAL provides partial credit guarantees (up to 75% coverage) through partnered banks to reduce interest rates on agricultural loans from ₦100m to ₦500m. You apply via a commercial bank, not directly to NIRSAL.
NIRSAL (Nigeria Incentive-Based Risk Sharing System for Agricultural Lending) de-risks agricultural lending by providing partial credit guarantees and technical assistance to enable commercial banks to lend to farmers, agripreneurs, and agribusinesses at reduced interest rates. Beneficiaries access single-digit interest loans for input procurement, processing, storage, and off-taking along agricultural value chains. NIRSAL also provides direct capacity-building and market linkage support.
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You do not apply to NIRSAL directly. Your bank conducts the initial credit assessment using standard commercial lending criteria, evaluating your agricultural activity, financial position, and ability to repay. The bank then requests the NIRSAL guarantee; NIRSAL's underwriting team assesses the bank's application and the loan structure. NIRSAL typically issues guarantees within a streamlined timeframe to help banks disburse quickly. If your application is approved at bank level but declined for the NIRSAL guarantee, the bank may still offer you a loan at standard rates.
What reviewers look for
You apply to a NIRSAL-partnered commercial bank or microfinance bank. The bank conducts your credit assessment and applies for the NIRSAL guarantee on your behalf if you are approved.
NIRSAL does not set interest rates; the partnered bank does. However, because NIRSAL's guarantee covers up to 75% of the bank's risk, banks typically offer loans under this scheme at single-digit interest rates, significantly lower than standard agricultural lending rates.
Timeline depends on the bank's credit assessment (typically 2–4 weeks) and NIRSAL's guarantee issuance (streamlined to enable faster disbursement). Exact timelines vary by bank and loan complexity.
You can apply as an individual farmer. Cooperatives are also eligible, but they must be formally registered. Informal groups without registration will not qualify.
Eligible uses include input procurement, farm mechanisation, post-harvest infrastructure, processing equipment, storage facilities, logistics, and working capital for agricultural trading or off-taking along the value chain.
Guide written from the official programme page on 15 October 2026. Funders change their rules, so confirm the details on the official page before you apply.
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