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NIRSAL provides N1.15bn facility to boost firm’s cocoa export The Punch
Published 5 July 2021
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending has provided ADT Russet Limited, a cocoa bean sourcing and exporting company, with 50 per cent credit risk guarantee on a working capital facility of N1.15bn.
The company said during a tour of its factory in Apapa, Lagos State that the facility would help Nigeria benefit from the over $67bn global cocoa market.
It said apart from the absorption of a substantial part of its risk exposure in the event of loan delinquency, NIRSAL was also providing efficient monitoring of the project aimed at boosting ADT Russet’s export volume to 4,000 metric tonnes per annum.