How Much Does NIRSAL Pay Corpers

In this article, we’ll be exploring how much NIRSAL pays Corps members. If you’re interested in serving at NIRSAL but are unsure about their compensation for Corps members, then this article is for you. We’ll delve into the details, but first, let’s explore what this organization is all about to equip Corps members with the necessary information they may need to know before serving there.

About NIRSAL

In a nutshell, NIRSAL is a non-bank financial institution set up in 2013 to make investments in Nigerian agriculture less risky. It was established by the Central Bank of Nigeria (CBN) in collaboration with the federal ministry of agriculture and others. NIRSAL works to improve the flow of affordable financing into agriculture by lowering the risks associated with agricultural lending. They achieve this through a number of methods, including improving agricultural value chains, building long-term capacity in the sector, and creating incentives for agricultural lending.

Here’s a closer look at NIRSAL’s five strategic pillars:

  • Risk Sharing: NIRSAL shares a portion of the risk of agricultural lending with banks and other lenders. This helps encourage lenders to provide more financing to the agricultural sector.
  • Insurance: NIRSAL provides insurance products that protect lenders against losses due to defaults on agricultural loans.
  • Technical Assistance: NIRSAL provides technical assistance to lenders and borrowers in the agricultural sector. This assistance can help improve the chances of success for agricultural projects.
  • Incentives: NIRSAL offers a variety of incentives to lenders and borrowers in the agricultural sector. These incentives can help make agricultural lending more attractive.
  • Rating: NIRSAL rates agricultural projects and borrowers. This can help lenders assess the risk of agricultural loans.

NIRSAL recognizes that training and knowledge are key to a successful and sustainable agricultural industry in Nigeria. They address this by providing training programs throughout the entire agricultural process, from before crops are even planted (pre-upstream) all the way to getting them to consumers (downstream).  They also help those who finance agriculture, such as banks and investors, to better understand the agricultural sector and create improved lending practices and financial products specifically for agribusiness.

How Much Does NIRSAL Pay Corpers?

The pay for Corps members serving at NIRSAL ranges from N50,000 to N142,000, depending on their assigned level and department. In addition to their salary, Corps members at NIRSAL also enjoy other benefits, such as accommodation.

It’s important to note that this compensation is on top of the standard N33,000 paid to all Corps members by the federal government. So, while you’ll receive a salary from NIRSAL, you’ll also continue to get your federal allowance.

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