Agric-revised

FG Intervention Related Products

Commercial Agriculture Credit Scheme

Features

  • Targeted at Corporate, large and Medium scale commercial farmers/Agro enterprises as well as State Governments (For on-lending to Farmers Cooperative Societies/self help Groups)
  • Covers the entire Agricultural value chain(Production, Processing, storage and preservation and marketing)
  • Priced at a single digit interest rate of 9% all inclusive.
  • Single obligor limit of up to N2 Billion to commercial farmers with maximum of seven years tenor.
  • Obligor limit of up to N1 Billion for state governments and FCT to on lend to cooperatives with maximum tenor of two years.

Benefits

  • Interest rate is 9%
  • Relatively longer period of loan repayment.
  • Free Professional advice from Agribusiness for both internal and external customers.

Agricultural Trust Fund Model

Features

  • Designed to partner with Federal, State/Local Governments, Non-Governmental organizations and private companies (Blue Chips) in making credits available to small and medium scale farmers and cooperative societies that lack tangible collateral to offer for agricultural loan facilities.
  • CBN Guarantee 75% net amount in default.
  • NAIC Insurance cover on the approved loan amount.
  • Employer or partnering body to contribute at least 50% of loan able funds.
  • Farmers to contribute 25% of the loan.

Benefits

  • Farmers/Farmer group to access agric facilities up to 4 times the collateral balance.
  • Free Professional advice from Agric Desk.
  • Flexible repayment periods.

Agricultural Credit Guarantee Scheme

Features

  • A long established credit scheme developed by CBN in 1978 being operated by banks. The Scheme is targeted at ALL categories of farmers( individuals either small, medium or large, cooperative societies/groups, companies/enterprises for any agricultural activity along the Agricultural value chain. 7
  • 5% CBN guarantee and NAIC insurance cover.
  • Single Obligor limit of N10million to companies /Cooperatives and N1million to individuals.
  • Varying tenor of the facility depending on the nature of the project.
  • Security – mortgages, guarantees, lien, debentures etc.

Benefits

  • Easy to access .
  • Beneficiaries who have repaid their facilities as scheduled will benefit from Interest Draw Back of the CBN by getting a refund of 40%(currently) of the interest charged on their facilities.

GES (Growth Enhancement Support Scheme)

Features

  • A Federal Government Initiative
  • Targeted at Tertiary, Secondary and Primary Agro dealers, and also key value chain actors in the fertilizer business.
  • Interest rate at 15%
  • Agro dealer to provide 10%-20% equity contribution
  • 1.5% Bank charges,0.5% insurance,1% CRG fee

Benefits

  • No facility limit.
  • Tenor is a maximum of six (6) months.
  • Free Professional advice from Agric Desk.
  • Buy back of unsold fertilizer by the Federal government.

NIRSAL (The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending)

Features

  • A Federal Government Initiative
  • NIRSAL Credit Risk Guarantee of between 40-75
  • Covers all agricultural businesses from primary production, input supplies, processing, logistic suppliers and export of Agricultural commodities, for medium to large scale agribusinesses.

Benefits

  • Facility has no limit
  • Tenor depends on business analysis of the project to be financed
  • Free Professional advice from Agric Desk.
  • Beneficiaries who have repaid their facilities as at when due to enjoy Interest Draw Back of NIRSAL by getting a refund of 30-50% of interest paid.

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