NADF Validates Non-Interest Finance Framework for Agriculture
The National Agricultural Development Fund (NADF) has initiated the validation of its proposed Non-Interest Finance Framework and Guidelines to improve access to agricultural financing and support the Federal Government’s food security agenda. Mohammed Ibrahim, the Executive Secretary/Chief Executive Officer of NADF, announced this at a Strategic Roundtable and Validation Session.
The framework aims to provide farmers, agribusinesses, and stakeholders with diverse financing options, emphasizing ethical and risk-sharing models. Ibrahim stated that the initiative seeks to broaden the agricultural financing ecosystem in Nigeria.
The proposed framework will establish governance and Shari’ah compliance standards for implementing agricultural interventions through licensed Non-Interest Financial Institutions. Dr Paul Oluikpe, Director of the Development Finance Advisory Department of the Central Bank of Nigeria, noted the significant agricultural financing gap in Nigeria and the importance of institutions like NADF in mobilizing resources to address these gaps.
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