The Development Agenda for Western Nigeria (DAWN) Commission has signed a landmark Memorandum of Understanding (MOU) with the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) to enhance food security and drive economic development in the Southwest region of Nigeria.
The MOU, signed at a ceremony attended by representatives from both organisations, aims to leverage the strengths of DAWN Commission and NIRSAL to facilitate the flow of development and commercial finance into the agricultural sector across the six Southwest States of Lagos, Oyo, Ogun, Ondo, Osun, and Ekiti. The NIRSAL team was led to the ceremony by the Executive Director, Technical, Mr. Olatunde Akande while the DAWN Commission team was led by the Director General, Dr Seye Oyeleye.
The fundamental objective of this partnership is to develop agriculture and agribusinesses in the region based on each state’s comparative advantage. The key deliverables include: designing and implementing integrated intervention programmes to boost agricultural productivity; Improving the capacity of value chain actors and strengthening their linkages; and increasing the flow of affordable finance and investments to agricultural stakeholders
Under the agreement, NIRSAL will provide technical assistance, training, and support to facilitate finance and investments. They will also deploy their proprietary Farm Agro Geo-Cooperative (F-AGC) agribusiness solution services to support farmers with various agricultural processes.
DAWN Commission will coordinate engagement between NIRSAL, the state governments, and other critical stakeholders in the region. They will also work to identify and unlock resources for successful project implementation.
Speaking at the signing ceremony, Dr. Seye Oyeleye, Director General of DAWN Commission, expressed enthusiasm for the partnership: “We are excited about this collaboration with NIRSAL. By leveraging our convening power across the six Southwest states and NIRSAL’s expertise, we aim to revitalise the agricultural sector in our region. Our goal is to see tangible results within the next 12 months.”
Oyeleye emphasised the timeliness of this partnership, as a follow-up to the directives of the Southwest Governors’ Forum towards addressing current challenges of food insecurity and the need for increased agricultural production to meet the demands of a growing population.
The Governors met last month in Lagos State and resolved, among other things, to put an end to the challenges of food security in the region, with directives to DAWN Commission to mobilise all possible and available resources.
This strategic alliance between DAWN Commission and NIRSAL represents a significant step towards agricultural transformation in Southwest Nigeria, with the potential to impact millions of lives through improved food security and economic growth.
Signed
Abiodun Oladipo
Head of Programmes
