Agricultural Grants and Loan in Nigeria

Agricultural Grants and Loan in Nigeria

Agricultural Grants and Loan in Nigeria. It is no longer news that agriculture is a lucrative business in Nigeria. It has also been identified as the largest labor employer in Nigeria.

Where to farm is no longer a problem for people interested in farming activities, a report has it that Nigeria has about 84 million hectares of arable land, of which only about 40% has been cultivated.

 

Lots of Agricultural Products

To add to that, the climatic conditions in the country is suitable for the growth lots of agricultural products, including groundnut, cassava, cocoa, rice, palm, cashew, etc.

Nowadays, youths are interested in becoming entrepreneurs and venture into the agriculture business but they seem to face challenges like not knowing the type of agricultural business to start and funds to start the business.

That is why the government of the 36 states in Nigeria has set up different schemes and programs to provide support in the form of grants and loans for the development of the agricultural sector and to encourage farmers and investors to welcome agriculture.

In this article, you will be provided with a list of some government grants and loans available for those interested in booming their agricultural businesses.

These are made available by the federal government to the public and it covers a range of agricultural practices including crop cultivation and livestock rearing.

There are a lot of approach the government has provided for individuals and corporate bodies to access agricultural loans. Some of them include:

 

1. Central Bank of Nigeria (CBN) Agricultural Loan.

This loan project was set up by the federal government to provide low-interest loans to farmers in Nigeria. To achieve this, the Central Bank of Nigeria (CBN) has recently approved the disbursement of about 75billion naira as a loan to farmers and cooperative societies in the 36 states and the federal capital territory (FCT).

This loan can be accessed directly from the Bank of Agriculture.

 

2. Bank of Agriculture (BOA) Loans

The Bank of Agriculture of Nigeria is the major avenue the government has employed to give out loans and grant to the public.

As a matter of fact, The bank is owned by the federal government, with the Central Bank of Nigeria and the Federal Ministry of Finance incorporated as shareholders.

Also, The activities of the bank are supervised by the Federal Ministry of Agriculture and rural development.

Also, When thinking of government loans, the BOA should be your first choice.

 

Requirements for Accessing Bank of Agriculture (BOA)  Loans

  1. Firstly of all, You must have maintained a minimum customer account relationship of about six months
  2. Likewise, You must have deposited at least 20% of the required loan amount into the account
  3. Similarly, You must provide collateral, excluding land.
  4. Finally,  You must provide a detailed business plan.

 

3. Commercial Bank Loans

The federal government through the bank of agriculture and the bank of industries have partnered with different commercial banks to help farmers with the acquisition of loans.

Also, There are a variety of loan facilities that you could apply for from commercial banks, these include; short-term loans, medium-term loans, and long-term loans.

Also, Some of the commercial banks you can approach to access loans are; Union Bank, First Bank, Zenith Bank, UBA, and Stanbic IBTC.

 

Requirements for Accessing Loans from Commercial Banks

The general requirement for all the commercial banks includes:

  1. First of all, Open an account with the bank
  2. Also,  Submit a loan application
  3. Also,  Deposit at least 10% of the total money you applied for.
  4. Provide the bank with collateral
  5. Finally, Provide a detailed business plan with a complete feasibility study.

To get more information about available government loans from commercial banks, you could visit any of the bank branches in your locality for more details.

 

4. Agricultural Co-operative Societies

The easiest and surest means of securing agricultural loans is through cooperative societies.

Also, Credits given to these societies come as grants.

As a matter of fact, the banks provide the grants to the cooperative societies who then distribute it to each member on the basis of contributory payments.

Some of the most notable agricultural cooperatives that you can join to access loans are; all farmers association of Nigeria (AFAN), youth empowerment in agricultural program (YEAP), and FADAMA.

 

Requirements for Accessing Co-operative Society loans

Accessing government loans and grants from banks by cooperative societies are relatively simpler – the basic requirements include:

  • First of all,  Form a cooperative society
  • Also,  Submit a loan application writing with the cooperative letterhead to the bank. The application should be signed by the cooperative’s representative.
  • Finally, Submit a detailed feasibility study on the business.

Furthermore, The federal government is paying increasing attention to the agricultural sector by making loans and grants available.

Also, Many smart farmers have taken advantage of this opportunity; they are currently enjoying the benefits. You can get started today and increase your wealth.

 

Do you know you can actually save yourself off this stress?

Engage CHRIS FARM NIGERIA to give you a professional business plans and a feasibility that will suit you demand today.

Chris Farm Nigeria develops well self-explanatory, irresistible feasibility studies or business plan for your Business start ups, Business Growth or Expansions through either personal funds, Grants, or loans, which could be new or existing ones. We delight in writing for people under Academic sectors, production sectors, manufacturing sectors, processing or packing sectors, advertising sectors, marketing sectors and other related sectors on mini, middle and large scale businesses.

 

On Agriculture

For your Agribusiness, either production, processing, marketing of any Agro-industry, our feasibility studies or business plan are explicit.

Generally, our feasibility study and business plans are developed so well that it becomes irresistible when you show them to your investors or sponsors. It gives you a clear picture of what you are expected to see when you put the feasibility study or business plans into use. It also shows how much it will cost you to own your desired business, what your money can afford.

 

The kinds of product you will need to minimize input in other to maximize output, and how much returns you will get at the end of each accounting year until your business break-even on its initial investment capital. This will give the intending business person or investor or farmer, a vivid idea on the possible benefit he or she stands to gain, when he or she starts doing the business. With that, the intending business person or investor or farmer will not need a soothsayer to make decision for him or her.

Furthermore on business Plans and feasibility Study

You can use this format in developing your own business Plans and feasibility Study

OUR TABLE OF CONTENT INCLUDE;

SECTION 1

(Business plan section)

  • SECTION I – EXECUTIVE SUMMARY
  • NAME OF BUSINESS / COMPANY
  • OFFICE & SITE LOCATION
  • MOTIVATION
  • MISSION STATEMENT
  • SOCIAL/ECONOMIC VALUE
  • PROJECT STATUS & START UP
  • WHY PREPARE THIS BUSINESS PLAN?
  • SECURITIES FOR THE PROPOSED LOAN
  • REPAYMENT
  • SECTION II – STUDY AREA
  • STUDY AREA
  • COMPANY OVERVIEW
  • MANAGEMENT TEAM
  • DEPARTMENTS IN THE COMPANY
  • EXPERIENCE
  • MANAGEMENT TEAM GAPS
  • SECTION III – INDUSTRY ANALYSIS
  • DEFINING YOUR INDUSTRY
  • YOUR INDUSTRY SIZE GROWTH RATE AND SALES PROJECTIONS
  • INDUSTRY STRUCTURE
  • MARKET OVERVIEW
  • MARKET SEGMENTATION
  • RELEVANT MARKET SIZE
  • KEY SUCCESS FACTORS
  • LONG TERM PROSPECTIVE
  • MARKET CHARACTERISTICS
  • SAMPLING TECHNIQUE
  • SECTION IV – CUSTOMER ANALYSIS
  • TARGET CUSTOMERS
  • CUSTOMER NEEDS
  • MARKET NEEDS / SOCIAL PROBLEMS AND SOLUTIONS
  • BUYERS BEHAVIOUR
  • MARKET SHARE
  • SALES FORECASTING
  • SECTION V – COMPETITIVE ANALYSIS
  • DIRECT COMPETITORS
  • COMPETITIVE ADVANTAGES
  • SECTION VI – MARKETING PLAN
  • PRODUCTS & SERVICES
  • FINISHED PRODUCTS
  • PRODUCT QUALITY AND PRODUCTION QUANTITY
  • PRODUCTION CAPACITY
  • PRICING
  • PROMOTIONS PLAN
  • DISTRIBUTION PLAN
  • SECTION VII – OPERATIONS PLAN
  • GENERAL APPROACH TO PRODUCTION
  • TECHNICAL ANALYSIS / PRODUCTION PROCESS
  • EQUIPMENT
  • PACKAGING REQUIREMENTS
  • SECTION VIII – FINANCIAL PLAN
  • REVENUE MODEL
  • FINANCIAL ANALYSIS
  • FINANCIAL ASSUMPTIONS
  • FINANCE CHARGES
  • FINANCIAL PROJECTIONS
  • FUNDING REQUIREMENTS/USE OF FUNDS
  • CRITICAL ASSUMPTIONS

SECTION 2

(Feasibility study section)

  • FINANCIAL MODELS
  • SUMMARY OF PROJECT COST
  • BUDGET OF FIXED ASSETS / CAPITAL EXPENSES / INVESTMENTS
  • DEPRECIATION
  • UTILITIES
  • OPERATING EXPENSES (OPEX)
  • TOTAL REQUIRED INVESTMENT OUTLAY (REQUIRED START-UP CAPITAL)
  • FINANCING PLAN
  • INSTALLED / AVAILABLE EQUIPMENT
  • BREAK-EVEN ANALYSIS
  • LOAN REPAYMENT SCHEDULE AND INTEREST PAID
  • FORECAST OF PROFIT AND LOSS
  • CASH FLOW
  • BALANCE SHEET
  • GENERAL ASSUMPTIONS (BREAK EVEN ANALYSIS)
  • BUSINESS RATIOS – PROFITABILITY ANALYSIS
  • CONCLUSION
  • SECTION 3 – APPENDIX
   Click other related clicks that may interest you below;

Acceptable feasibility study and business plan for bank loans

Feasibility study on piggery farming business Agbarho community, delta state 

A PREPARED FEASIBILITY STUDY FOR CATFISH FARM IN NIGERIA

“How to own, manage, and make millions from catfish farmingbusiness” BEST SELLER  

HOW TO OWN A MEGA FISH FARM BUSINESS IN NIGERIA

FLOATING FISH FEED PELLET MACHINE

TIPS ON BROILERS PRODUCTION AND ACTUAL VACCINATION –PROGRAMME AND TREATMENT

TIPS IN POULTRY MANAGEMENT

Sales of battery cage system in Nigeria

CASSAVA PROCESSING MACHINE

GRASS CUTTER/ CANE RAT PRODUCTION, BEST SELLER

How to handle and manage Snail farming

Rabbit Management

MANAGEMENT OF RABBITS, BEST SELLER

  • NOTE; According to our policy, we are not “allowed / permitted” to disclose peoples business or written feasibility study, “to anyone”, irrespective of their personality.
  • BUT, WE are permitted to display only executive summary.
  • This is just a sample of our executive summary on poultry feasibility study and business plan, carried out in Rivers State.
  • 1stsample;

These Feasibility study on poultry farming business. (specializing on layers and boilers production), was conducted using projections, impressive publications, compounding interest/values, tables, graph, bar chart, pie chart, profits analysis and cash flow positions. In other to give a clear picture of what is obtainable in that location, using eight plots of land, at Esemdiary village, Off Effurun Sapele Road, Okpe LGA of Delta state, Nigeria as a case study.

Esemdiary village is a community in Okpe Local Government Area of Delta State with coordinates 05°26’N 5°57’E, which also plays the host community to the Warri Airport, which is actually located at Osubi.

 

Furthermore on the Sample

Okpe Local Government is a territory that used to be part of the original Okpe Kingdom. Its headquarters is at Orerokpe, with a population of 128,398 people whose primary occupations include commercial farming, fishing, hunting, trading and gas exploration.

After carrying out the feasibility study on Esemdiary village, Off Effurun-Sapele Road, Okpe LGA of Delta state, Nigeria. It was discovered that, farming generally will do well both on crop and animal production.

 

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Please note; it will take ten working days to write (or prepare) a feasibility study or a project on your request.

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Get in touch with us today on our phone numbers or send us an email. We await your response……………………….

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See; Youth Empowerment Programs in Nigeria 2019-2020

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