Apply for CBN Commercial Agriculture Credit Scheme 2023 (N200billion Funds to be Disbursed)

The Scheme is a special credit intervention fund created by the Federal Government of Nigeria to fast track the development of the agricultural sector economy by providing credit facilities to commercial agricultural enterprises at a single-digit interest rate.

To apply, go to the official website https://cbn.gov.ng/agric_credit_scheme

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The Scheme is a special credit intervention fund of originally N200 billion created by the Federal Government of Nigeria to fast-track the development of the agricultural sector economy by providing credit facilities to commercial agricultural enterprises at a single-digit interest rate.

The key agricultural commodities covered under the Scheme are:

• Production:
  • Cash Crops: Cotton, Oil Palm, Fruit Trees. Rubber, Sugar Cane, Jatropha Curcas and Cocoa.
  • Food Crops: Rice, Wheat, Cassava, Maize/Soya, Beans/Millet, Tomatoes and Vegetables
  • Poultry: Broilers and Eggs Production
  • Livestock: Meat, Dairy and Piggery
  • Aquaculture: Fingerlings and Catfish
• Processing: Feed-mills Development, Threshing, Pulverisation and other forms of transmutation for value addition.
• Storage: Commodities, Agro-Chemicals and Warehousing.
• Farm Input Supplies: Fertilizers, Seeds/Seedlings, Breeder Stock, Feeds, Farm equipment & Machinery.
• Marketing: Agricultural commodities under the focal investment areas

Features

• Single-digit interest rate (9% all-in, max).
• Single obligor limit of up to N2 billion for medium and large scale private sector enterprises and N1 billion for state governments.      
• The participating private sector entity must have a minimum farm asset base of a million (excluding farmland).
• Irrevocable Standing Payment Order (ISPO) is required in the case of State Governments.     
• Fund available till 2025.     
• Loan tenor of up to 5 years.

Value Proposition/Gain

• Funding is provided at a cheap cost.
• The longer tenor of the loan. 
• Funding targeted to specific agricultural production.

Target Market

• Medium or Large Scale Commercial Farms involved in the cultivation of crops, rearing of livestock, fisheries, etc.           
•  Limited Liability Companies involved in agricultural production, storage, processing, marketing and enterprise development.          
• State Governments and the FCT (for on-lending/special intervention to small-scale farmers).

You can apply via https://cbn.gov.ng/agric_credit_scheme