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7 Things You Need To Know About NIRSAL’s Groundbreaking Transportation System- Secured Agricultural Commodity Route (SACR)
The Nigeria Incentive-Based Risk Sharing system for Agricultural Lending (NIRSAL) is a public-private initiative by the Central Bank of Nigeria (CBN) aimed at defining, measuring, pricing and sharing agribusiness related credit risk.
NIRSAL “reduces the risks of financing institutions while granting agricultural loans by building the capacities of both banks and value chain actors on good practices in agricultural financing, loans utilization and repayment”.
1. On August 26, 2018, the NIRSAL revealed that it will soon unveil an innovative transportation system known as Secured Agricultural Commodity Route (SACR), designed to cut cost of moving farm produce from one place to another.
2. The Secured Agricultural Commodity Route (SACR) is a national transportation network designed for distribution of agricultural produce across Nigeria and is currently undergoing an in-depth internal testing process before its formal deployment.
3. SACR will seek to remove the holdups in Nigeria’s transport system for agricultural products and significantly reduce the prices of agricultural commodities by limiting the level of losses which occur post-harvest.
4. The SACR will cut across the eleven states in the Lakaji corridor including Katsina, Jigawa, Kano, Kaduna, Niger, Kwara, Oyo, Osun, Ogun, Lagos and will take three months to implement starting from August 2018.
5. The system is built around four complementary components:
(a) Agro-runner — This system will aid farmers to call and book for their produce to be transported to markets/designated aggregated zones.
(b) Secured commodity aggregation zones — These are areas selected for harvested agricultural produce.
(c ) Specialized haulage services — These are courier companies with specialized vehicles earmarked meant for transporting a collection of agricultural produce around the country. It is noteworthy that security personnel will be made aware of these companies to facilitate tax and regulatory checks on haulage vehicles.
(d) Dedicated commodity route — These are routes designated for transporting agricultural produce.
6. SACR will create a partnership with various stakeholders such as the Transport Unions (i.e. NURTW, NARTO), Agro Dealers, Produce Aggregators, Retailers, Smallholder Farmers, Logistic service providers, State and Local Governments, etc.
7. To ensure timely and effective implementation, NIRSAL will collaborate with the following MDAs and organisations: the Joint Tax Board (JTB), Association of Local Governments of Nigeria (ALGON), Federal Ministry of Agriculture and Rural Development (FMARD), Federal Ministry of Industry Trade and Investment (FMITI), Federal Produce Inspectorate Services (FPIS), Nigeria Agricultural Quarantine Services (NAQS), Nigeria Investment Promotion Commission (NIPC), Nigeria Export Processing Zones Authority (NEPZA), Nigeria Export Promotion Council (NEPC), Nigeria Police Force (NPF), Nigeria Custom Services (NCS), Nigeria Security and Civil Defence Corps (NSCDC), Federal Road Safety Corps (FRSC), Nigeria Drug Law Enforcement Agency (NDLEA).
Source: Business Day Newspaper
7 Things You Need To Know About NIRSAL’s Groundbreaking Transportation System- Secured Agricultural Commodity Route (SACR)
The Nigeria Incentive-Based Risk Sharing system for Agricultural Lending (NIRSAL) is a public-private initiative by the Central Bank of Nigeria (CBN) aimed at defining, measuring, pricing and sharing agribusiness related credit risk.
NIRSAL “reduces the risks of financing institutions while granting agricultural loans by building the capacities of both banks and value chain actors on good practices in agricultural financing, loans utilization and repayment”.
1. On August 26, 2018, the NIRSAL revealed that it will soon unveil an innovative transportation system known as Secured Agricultural Commodity Route (SACR), designed to cut cost of moving farm produce from one place to another.
2. The Secured Agricultural Commodity Route (SACR) is a national transportation network designed for distribution of agricultural produce across Nigeria and is currently undergoing an in-depth internal testing process before its formal deployment.
3. SACR will seek to remove the holdups in Nigeria’s transport system for agricultural products and significantly reduce the prices of agricultural commodities by limiting the level of losses which occur post-harvest.
4. The SACR will cut across the eleven states in the Lakaji corridor including Katsina, Jigawa, Kano, Kaduna, Niger, Kwara, Oyo, Osun, Ogun, Lagos and will take three months to implement starting from August 2018.
5. The system is built around four complementary components:
(a) Agro-runner — This system will aid farmers to call and book for their produce to be transported to markets/designated aggregated zones.
(b) Secured commodity aggregation zones — These are areas selected for harvested agricultural produce.
(c ) Specialized haulage services — These are courier companies with specialized vehicles earmarked meant for transporting a collection of agricultural produce around the country. It is noteworthy that security personnel will be made aware of these companies to facilitate tax and regulatory checks on haulage vehicles.
(d) Dedicated commodity route — These are routes designated for transporting agricultural produce.
6. SACR will create a partnership with various stakeholders such as the Transport Unions (i.e. NURTW, NARTO), Agro Dealers, Produce Aggregators, Retailers, Smallholder Farmers, Logistic service providers, State and Local Governments, etc.
7. To ensure timely and effective implementation, NIRSAL will collaborate with the following MDAs and organisations: the Joint Tax Board (JTB), Association of Local Governments of Nigeria (ALGON), Federal Ministry of Agriculture and Rural Development (FMARD), Federal Ministry of Industry Trade and Investment (FMITI), Federal Produce Inspectorate Services (FPIS), Nigeria Agricultural Quarantine Services (NAQS), Nigeria Investment Promotion Commission (NIPC), Nigeria Export Processing Zones Authority (NEPZA), Nigeria Export Promotion Council (NEPC), Nigeria Police Force (NPF), Nigeria Custom Services (NCS), Nigeria Security and Civil Defence Corps (NSCDC), Federal Road Safety Corps (FRSC), Nigeria Drug Law Enforcement Agency (NDLEA).
Source: Business Day Newspaper
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