Agricultural Loans in Nigeria – For many years now, agriculture has been the largest sector in the Nigerian economy providing the country with a means of livelihood for both Farmers and entrepreneurs.
There are agricultural loans in Nigeria made available for both rural and urban farmers. These Nigerian agricultural loans are meant for farmers who wish to buy supplies, equipment, machineries, e.t.c to grow their farm.
If you are a farmer and you are asking, How can I get agricultural loans in Nigeria? How do I apply for a Nirsal agricultural loan? What do I need to qualify for an agricultural loan in Nigeria? All these questions and many more will be answered here
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What is an agricultural loan?
An agricultural loan is the financial support given to farmers and entrepreneurs who are into the agricultural sectors.
Agricultural loans in Nigeria
The following are some of the agricultural loans that you can apply for in Nigeria. They are:
- Agricultural Credit Support Scheme (ACSS)
- Agricultural Credit Guarntee Scheme Fund (ACGSF)
- commercial Agricultural Credit Scheme (CACS)
Agricultural Credit Support Scheme
This agricultural loan initiated by the federal government in collaboration with the Central Bank of Nigeria (CBN) has been in place for quite a while. This was founded to support farmers and entrepreneurs with a loan amount of fifty billion naira (50, 000, 000, 000)
Agricultural Credit Guarantee Scheme Fund (ACGSF)
This type of agricultural loan was initiated in 2009 by the Central Bank of Nigeria in collaboration with the Federal ministry of Agriculture and water resources
Commercial Agricultural Credit Scheme (CACS)
For many years, the Commercial Agricultural Credit Scheme (CACS) has been in place and was established by the 1997 decree constitution
Important: These agricultural loans is meant for only farmers and entrepreneurs who are in the agricultural sectors
If you want more information on the Agricultural loans in Nigeria, don’t hesitate to leave us a comment below.
