How to get N500K to N1m loans for farmers in Nigeria (2022)

Nigeria’s agricultural sector is largely untapped, despite having enormous potential. As a result, the government has made it a priority over the last decade. There are currently several loans available for farmers in Nigeria to help them grow their businesses and the economy as a whole. This article will look at the loans for farmers in Nigeria that you can get.

What are the available loan programs for farmers in Nigeria?

Farm operating loans (direct and guaranteed) ₦100k – ₦500K:

The farm service agency is in charge of this loan (FSA). It provides several operating loans to family plant and animal farmers in order to promote and sustain their operations. As a result, the country’s agricultural economy grows.

APPLY HERE (₦100k – ₦500K)

Farm storage facility loans:

The government made this loan to motivate the storage and handling of certain agricultural commodities. Grain sorghum, corn, oats, wheat, barley, soybeans, peanuts, lentils, chickpeas, and many other commodity markets are examples of these commodities.

APPLY HERE (₦150k – ₦550K)

Fisheries finance program:

This loan is a direct government initiative that provides fish farmers with long-term financing. Also included in such financing are the costs of fishing vessels, fisheries facilities, and other machinery required for successful fishing.

APPLY HERE (₦200k – ₦500K)

Farm ownership loans:

As a farmer, this loan will assist you in purchasing your own farmland. More precisely, it covers the cost of purchasing, building, or renovating a ranch. Farm ownership loans also cover the cost of water and soil conservation, as well as protection.

APPLY HERE (₦300k – ₦700K)

Other Kinds Of Loans for farmers in Nigeria

Along with the credit programs already mentioned, Nigerian farmers can additionally make use of the following loans:

Agricultural credit guarantee scheme fund (ACGSF):

The central bank is directly in charge of this loan (CBN). It has also been in operation since 1978 and was founded by the Order of 20 of 1997. As a result, it is one of the nation’s oldest agricultural programs.

APPLY HERE (₦250k – ₦600K)

Agricultural Credit Support System (ACSS):

This is a project of the government’s agricultural credit programs. As a result, the funds, with a mandated total value of N50 billion, are administered by the Nigerian central bank. Additionally, they created this initiative to lower inflation, produce foods for export, and boost foreign exchange and revenue. Additionally, only active farmers and business owners in the agro-allied industries are eligible for this program.

APPLY HERE (₦400k – ₦900K)

Commercial Agriculture Credit Scheme (CACS):

The Federal Ministry of Water Resources and CBN worked together to create this plan. Additionally, they created it in 2009 to finance the nation’s agricultural value chain. This was done in an effort to enhance production in the nation and battle the rising inflation. The Debt Management Office also generated a N200 billion bond to pay for this borrowing.

APPLY HERE (₦500k – ₦1m)

Farmers’ loan from private institutions:

In addition to incentives and initiatives offered by the government, commercial organizations also provide loans for farmers in Nigeria. These organizations enable you to borrow money and repay it later at an agreed-upon interest rate. You should be aware that many of them give a much lower sum and a higher interest rate than government loan programs.

APPLY HERE (₦1m – ₦1.5)