Apply For CBN N200Billion Commercial Agriculture Credit Scheme 2024
The CBN Commercial Agriculture Credit Scheme portal has been opened for interested business and Agricultural based applicants. The program is aimed at improving the agricultural sector of the country.
Commercial Agriculture scheme is a special credit facilities created by the Federal Government to accelerate Agriculture. It is also a policy by the CBN to improve the sector and give a single-interest rate.
The areas covered by the scheme in crop production include the following:
Production:
Poultry: Broilers and Eggs Production
Livestock: Meat, Dairy and Piggery
Aquaculture: Fingerlings and Catfish
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
Storage: Commodities, Agro-Chemicals and Warehousing.
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Farm Input Supplies: Fertilizers, Seeds/Seedlings, Breeder Stock, Feeds, Farm equipment & Machinery.
Marketing: Agricultural commodities under the focal investment areas
Processing: Feed-mills Development, Threshing, Pulverization and other forms of transmutation for value addition.
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.
The 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 HEREhttps://www.cbn.gov.ng/devfin/acgsf.asp
For further information you can reach us via the comment section below.
