Top 7 Agric Business Loans in Nigeria You Can Apply for in 2025

Last updated on May 28, 2025

Did you know that farming and related businesses are a big part of Nigeria’s economy? They also provide jobs for many people. But to reach its full potential, farming often needs one key thing: access to money. Are you a business owner or farmer in Nigeria needing money to help your farm or business grow in 2025? You are in the right place. Getting the right money is very important for growing, using modern tools, and making sure your business does well in Nigeria’s important farming sector.

This guide gives you a simple look at the main farming loan plans and ways to get money that can help you reach your goals in 2025 and the years after. We will make things clear so you can understand the main loan chances. We will explain what they offer, who can get them, and how to apply. We use information from official places and recent news. Get ready to help your agribusiness grow stronger with the right money!

Why Getting Money for Agric Business is So Important in Nigeria

Farming in Nigeria can be very successful. But it faces big problems. Not having enough money is a main challenge. Money help for farms and agribusinesses is needed. This money helps pay for:

• Buying good seeds, fertilizers, and pest control.
• Getting modern machines and technology (like tractors and watering systems).
• Making farm land bigger.
• Starting or improving businesses that process farm products.
• Making storage and transport better so less food is wasted after harvest.

The government and special banks know that farming is a main part of Nigeria’s economy. Plans from groups like the Central Bank of Nigeria (CBN) are made to put money into farming. This helps lower the risks for banks that lend money. It also helps people and companies invest in farming. This all helps Nigeria have enough food, creates jobs, and makes the economy stronger. Looking for farming money in Nigeria for 2025 means using these plans to help your own agribusiness.

Key Terms Defined

Here are some key terms you’ll encounter when exploring agricultural finance in Nigeria:

• Agric Business: Refers to the business of agricultural production, including farming, processing, marketing, and distribution of agricultural products. It covers the entire value chain from “farm to fork.”
• Value Chain: In agriculture, the value chain includes all the activities involved in bringing a product from production in the field to final consumption. This includes input supply, farming, harvesting, storage, processing, transportation, and marketing.
• Collateral: This is an asset (like land, buildings, or equipment) that a borrower pledges to a lender as security for a loan. If the borrower defaults on the loan, the lender can seize the collateral to recover their funds.
• Loan Tenor: This is the period within which a loan must be repaid, including both the principal amount and the interest.
• Single-Digit Interest Rate: An interest rate that is less than 10% per annum. These are often offered on government-backed agricultural loans to make them more affordable for farmers.
• Smallholder Farmer: Typically refers to a farmer cultivating a small area of land, often relying on family labor and producing mainly for subsistence, though they may sell some surplus.
• Large Scale Farming: Refers to agricultural operations covering extensive land areas, often employing modern technology and labor, and producing primarily for commercial markets.

1. Commercial Agriculture Credit Scheme (CACS): Agric Business Loans in Nigeria You Can Apply for in 2025

The Commercial Agriculture Credit Scheme (CACS) is managed by the CBN and other banks. It is a major way to get money for large farming projects in Nigeria. It was started to help grow more food and create jobs. The money for this plan comes from a N200 billion bond from the government [Source: CBN CACS Guidelines, 2014]. The main rules are from 2014, but they are still used. If you want to apply, you must check the latest details for 2025. This includes what you need, when you can apply, and if money is available. Check directly with the banks that are part of this plan and the CBN.

Interest Rate and Loan Details

• Interest Rate: The extra money you pay on the loan is usually a single-digit interest rate. It is typically no more than 9% each year. This includes all costs [Source: CBN CACS Guidelines, 2014]. The CBN sets the highest rate. But the exact rate can be slightly different at each bank. It depends on their costs and how risky they see the loan.
• Maximum Loan Amount: You can get up to N2 billion for one project from a bank in the plan. State governments can get up to N1 billion to lend to others. Sometimes they can get more for special plans [Source: CBN CACS Guidelines, 2014].
• Loan Tenor: How long you have to pay back the loan changes. It depends on the type of project and how long it takes to start making money. It is often set to give you enough time to pay back based on when your farm products are ready.

What You Can Use the Money For

CACS helps pay for many farming activities. This includes growing, processing, and storing crops, raising animals, and fishing.

How to Apply for a CACS Loan

To apply, you need to give your project idea to a bank that is part of the plan. The bank will check everything carefully. If they agree, they will send your application to the CBN to be approved. You must check the specific application steps and papers needed for 2025 directly with the bank you choose.

What You Need to Be Able to Get CACS

To get this loan, a limited liability company usually needs:

• To own things worth at least N100 million. They should also expect to grow to N250 million in three years. Or own things worth at least N50 million and expect to grow to N150 million in three years [Source: CBN CACS Guidelines, 2014].
• A clear plan for your business that shows it can work and make money.
• Business records that are correct and up-to-date.
• State governments can also be part of this. They need to provide a special payment order.

Who is CACS Best Suited For?

This plan is best for big, established commercial farms and agribusinesses. They need a lot of money to grow, use modern tools, or do big projects.

What Makes it Hard to Get CACS?

People applying often find it hard to meet the high requirements for how much their business is worth. They also need to provide enough collateral that banks will accept. The paperwork and getting approval from both the bank and the CBN can also be difficult.

Common Reasons for Rejection

• The business plan is not convincing or not well put together.
• Not enough collateral that the bank will accept.
• The person or company applying has a bad history with paying back loans.
• The project does not fit with what the plan is trying to achieve. It might not be one of the farming types it supports.
• The paperwork is not complete or has mistakes.

For the most current details, check the Central Bank of Nigeria website – CACS Page and the banks that are part of the plan.

2. Agri-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS): Agric Business Loans in Nigeria You Can Apply for in 2025

The Agri-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS) helps small and medium-sized businesses (MSMEs). It supports businesses in many areas. But it focuses a lot on farming businesses. This plan is a good choice for small farmers, young people, and other smaller agribusinesses looking for money. It is especially good for those who might not have traditional collateral. If you want to apply, you should check the latest information for 2025. This includes the plan’s status, interest rates, and how to apply. Check the official CBN website and the approved training centers. Details can be updated.

Interest Rate and Loan Details

• Interest Rate: The extra money you pay on the loan is quite low. It is 9% each year [Source: CBN AGSMEIS webpage].
• Loan Limits: The smallest amount you can get is N3 million. The largest is N2 billion. This amount might change.
• Loan Tenor: You have between one and seven years to pay back the loan. The time depends on what you choose and what your project needs.
• Moratorium: You might be able to get one to two years where you do not have to start paying back the loan yet. This gives you a grace period before you need to make payments.

Eligible Activities

The scheme gives money for all business types that can make money. It does not support buying and selling just to make a quick profit. It prefers farming businesses, making things, moving goods, and processing farm products.

How to Apply for an AGSMEIS Loan

The application process has several steps:

1. You must attend training. It is required and is with a training center approved by the CBN.
2. You apply for the loan through these training centers. The application goes to NIRSAL Microfinance Bank (NMFB).
3. NMFB will look at your application and talk with you.
4. If they approve, you will get the money.
5. You will get help with your business.
6. You pay back the loan.

You can start the application online through the official NMFB AGSMEIS application portal.

What are the Eligibility Requirements for AGSMEIS?

• Training: You must complete the required training with an approved center.
• Business Plan: You must give them a business plan after the training. It needs to show that your project can work and make money.
• Collateral: You usually do not need to provide traditional collateral like land or buildings. This makes it an option for those looking for collateral free agricultural loans Nigeria.
• Guarantors: You need two trusted people to promise they will pay if you cannot.
• Asset Acquisition: If you use the loan to buy something valuable, like equipment, that item itself will be used as collateral [Source: Enugu SME Centre webpage].
• BVN: You need your Bank Verification Number to apply.

The CBN has said they have given out over N95 billion through AGSMEIS [Source: CBN AGSMEIS webpage]. This shows that many people, including those in farming, have received money from this plan.

Who is AGSMEIS Best Suited For?

AGSMEIS is good for very small, small, and medium-sized farming businesses. This includes small farmers who want to grow, young people starting in farming, and those who process farm products or work in other parts of the farming business. It helps those who might not have big things to use as collateral.

What Makes it Hard to Apply for AGSMEIS?

Common problems include finishing the required training, writing a business plan that is convincing, finding people to be your guarantors, and sometimes waiting a long time because many people are applying.

Common Reasons for Rejection

• Not passing the required training program.
• Giving a business plan that is not convincing or not complete.
• Not meeting the requirements for guarantors.
• The business idea is not in the types of businesses the plan supports. Or it is not seen as able to make money.
• The person applying or their guarantors have a bad history with paying back loans.

More details are available on the CBN website – AGSMEIS Page.

3. Agricultural Credit Guarantee Scheme Fund (ACGSF): Agric Business Loans in Nigeria You Can Apply for in 2025

The Agricultural Credit Guarantee Scheme Fund (ACGSF) is a fund set up by the government. The CBN manages it. Its goal is to help banks feel safer about lending money to farming businesses. It does this by promising to pay back part of the loan if the farmer cannot. It does not lend money directly. It helps reduce the risk for banks. If you want to apply, you should check the latest rules, the highest amount guaranteed, and the list of banks that are part of the plan for 2025. Check with the CBN and the banks.

Guarantee Details

• Guarantee Coverage: If a farmer cannot pay back a loan, the fund promises to pay 75% of the amount that is still owed. This is after anything valuable used as security is sold [Source: CBN ACGSF webpage]. This makes banks much more willing to give money for farming.
• Interest Rate: The ACGSF itself does not set the interest rate. The bank that gives you the loan will decide the rate. It depends on the market and their own rules.
• Maximum Guaranteed Amount: The fund will promise to cover up to N100,000 for loans where you do not provide collateral. For loans where you do provide collateral, it will cover up to N50 million [Source: CBN ACGSF webpage].
• Loan Tenor: The time you have to pay back the loan is agreed upon between you and the bank that gives the loan. The guarantee lasts for the whole time of the loan.

Eligible Activities

The ACGSF covers loans for many farming activities. These include:

• Growing or producing crops.
• Starting or managing large farms with trees (plantations).
• Raising animals.
• All steps in getting a farm product from the farm to the customer.

How to Apply for a Loan Under ACGSF

To apply, you need to ask for a loan from a bank that is part of the plan. This includes both big banks and microfinance banks. The bank will look at your loan request using their own rules. If your request fits the ACGSF rules, the bank will ask the CBN for the guarantee. You fill out the application forms. The bank signs and stamps them. Then they send them to the CBN. You do not have to pay a fee to apply for the guarantee. You must check the current way to submit applications with the bank you choose and the CBN.

Interest Drawback Program (IDP)

A helpful part of this plan is the Interest Drawback Program (IDP). If you pay back your loan (the main amount and the interest) fully and on time, you can get back 40% of the interest you paid [Source: CBN ACGSF webpage].

Who is ACGSF Best Suited For?

The ACGSF is good for small and medium-sized farmers and businesses that process farm products. It helps them get loans from banks. This is especially true if they find it hard to provide all the collateral banks usually ask for. The guarantee makes banks more likely to lend to them.

What Makes it Hard to Get an ACGSF-Backed Loan?

Farmers still need to meet the bank’s rules for giving loans. This might mean providing some collateral. The guarantee helps lower the risk for the bank, but some collateral might still be needed. You also need to show that your project can make money. Sometimes, farmers and even bank workers do not know enough about this plan, which can be a problem.

Common Reasons for Rejection

• By the bank: The person applying has a bad history with paying back loans. Or they do not have enough collateral (for loans over the guaranteed amount). Or the bank thinks the project will not make enough money.
• For the guarantee: The application is not complete. Or it does not meet the rules of the plan set by the CBN.

Studies show that ACGSF has helped farming in Nigeria a lot. It has helped banks lend more money to farming, especially for animals, crops, and fish [Source: Riset Press International, 2021 research analyzing data up to 2021]. You can find the official details on the CBN website – ACGSF Page.

4. Bank of Agriculture (BOA) Credit Products: Agric Business Loans in Nigeria You Can Apply for in 2025

The Bank of Agriculture (BOA) is a special bank. It was set up by the government. Its main job is to provide money help to the farming sector all over Nigeria. They are a main place to get different kinds of farming loans. They help small farmers and bigger farming businesses. If you are thinking about applying, you should check the official BOA website or visit a branch. Do this to get the newest loan types, interest rates, and what you need for 2025. You cannot apply online right now.

Interest Rate and Loan Details

• Interest Rates: The extra money you pay on BOA loans is usually better and lower than what commercial banks charge. They want to make getting money for agribusiness affordable. The exact rate changes. It depends on the loan type, who is getting the loan (like a person, a group, or a company), and the market situation.
• Loan Amounts: You can get small loans (starting from over N250,000). You can also get large loans (from over N50 million up to N1 billion for one person or company) [Source: BOA Website].
• Loan Tenor: How long you have to pay back the loan is different for each loan product and project. It is planned to match the farming seasons.

What You Can Use the Money For and What Loans They Offer

BOA gives money for many farming activities. This includes:

• Growing crops.
• Raising animals.
• Fishing.
• Processing farm products.
• Services that use farming machines.
• Buying and selling farming supplies.

They have different loans for different needs. This includes small loans for individual farmers and larger loans for medium and large farming businesses. They also work with states, groups, and cooperatives to lend money.

How to Apply for a BOA Loan

To apply for a loan from BOA, you usually need to:

1. Fill out a loan application form. You can get this at a BOA branch. Online applications are not available yet.
2. Provide a plan for your business. You need a more detailed one for bigger loans.
3. Have a certain amount of money in a savings account. This is for some loan products.
4. Find two trusted people to be your guarantors.
5. Show your BVN so they can check who you are.
6. Sign a special instruction. This allows the bank to take money from your other accounts if you do not pay back the loan.

As of the latest information, you cannot apply for BOA loans online. Visit your nearest BOA branch to apply.

What You Can Use as Collateral for BOA Loans

What you can use as collateral depends on the loan product and how much money you are borrowing. It can include:

• Buildings or land you own.
• A promise from another bank to pay if you cannot.
• A special payment order from the government.
• A promise from a person to pay if you cannot.
• For smaller loans, your farming group or cooperative might be able to promise to pay if you cannot.

There are reports that the Nigerian government plans to finish putting more money into BOA by early 2025. This could mean the bank will be able to lend more money to small farmers soon.

Who are BOA Loans Best Suited For?

BOA loans are good for many people in farming. This includes individual small farmers, farming groups, and medium and large farming businesses. This is because they have many different loan products.

What Makes it Hard to Apply for BOA Loans?

People applying might find it hard to meet the specific rules for each loan type. Providing enough acceptable collateral for the amount they want to borrow can also be a challenge. There can be delays in the process. Sometimes BOA branches are not close by in faraway areas.

Common Reasons for Rejection

• The application is not complete or has mistakes.
• The business plan is not convincing or does not show the business can make money.
• Not enough or not the right kind of collateral for the loan amount.
• The person applying or their guarantors have a bad history with paying back loans.
• Not meeting the specific rules for the loan product they want.

You can see what loans they offer and where their branches are on the Bank of Agriculture official website.

5. National Agricultural Development Fund (NADF) Loans: Agric Business Loans in Nigeria You Can Apply for in 2025

The National Agricultural Development Fund (NADF) helps get money to the farming sector. It aims to help farming grow and change. It does this by making it easier to get money and supporting key farming projects. NADF received a good amount of money in the 2025 government budget. A large part of this money is for a program to help with fertilizer [Source: Food Business Africa Magazine, Mar 2025]. NADF announces specific plans, what they focus on, who can get money, and when you can apply for 2025 at different times. If you are interested, you MUST check official NADF places for the newest information and how to apply.

Interest Rate and Funding Approach

• Interest Rate: NADF provides money through banks and other financial groups. They offer “appropriate soft terms“. The exact rates for 2025 plans are still being shared. But the goal is to provide low-cost money to help farming grow.
• Funding Mechanism: They provide money through banks, including microfinance banks, farming groups, and other organizations. These groups then lend the money to individual farmers and companies. NADF might also give money directly to special projects that fit the country’s farming goals.
• Loan Amounts and Tenor: The exact amount of money you can get and how long you have to pay it back for 2025 plans are still being shared. These details will be different for each plan that NADF announces.

Eligible Activities and Focus Areas

NADF supports many farming activities. These include growing crops, raising animals, fishing, and processing farm products. They also help with research, training, and getting information about the market. Recently, they have helped with problems like a ginger disease through plans like GRATE. They have also worked with others to get tractors to make farming more modern. To get money from NADF, you often need to be part of a specific plan they are supporting.

How to Apply for NADF Funding

NADF usually announces how to apply for their money on their official website and social media. If you are interested, you should actively look for announcements about specific plans and how to apply for them. Applications are usually sent in through certain banks or groups that are working with NADF. Check the official NADF website for announcements about 2025 plans and how to apply for them.

Working with Others

NADF is actively asking private companies to work with them more. They are also looking at ways to mix private and government money. This shows they want private businesses to invest more in farming.

Who is NADF Funding Best Suited For?

NADF money is best for farmers, farming groups, and agribusinesses. Their projects should match the country’s main farming goals and the specific areas that NADF announces they will support.

What Makes it Hard to Apply for NADF Funding?

It can be hard to know about new NADF plans and when you can apply. These times can change each year. Meeting the specific rules for each plan can also be hard. Many people apply for popular plans, which makes it competitive.

Common Reasons for Rejection

• Not meeting the specific rules of a particular plan announced by NADF.
• Giving an application or plan that is not complete or convincing. It might not clearly fit what the plan wants to do.
• The project is not seen as able to make money. Or it is outside the areas NADF is focusing on right now.

Keeping an eye on announcements from NADF about their specific programs and how to apply for them for 2025 on their official website is a good idea. Do this if your project fits with the country’s farming development goals.

6. Commercial Bank Agricultural Loan Offerings: Agric Business Loans in Nigeria You Can Apply for in 2025

Besides the special plans and banks, the main Commercial Banks in Nigeria also offer loans for farming businesses. These banks have special desks or teams that focus on providing money for agribusiness. They often lend to businesses that have been around for a while. These businesses usually have a good history and can handle bigger loans. The specific loan products, interest rates, who can get them, and how to apply are very different for each commercial bank. Applicants MUST ask each bank directly for their offers and requirements for 2025.

Interest Rate and Loan Details

• Interest Rates: The extra money you pay on loans from commercial banks is usually higher than from government-backed plans. The rate changes a lot. It depends on the bank, the type of loan, how good you are at paying back loans, how much collateral you provide, and the overall market situation. The rates are typically set by the market.
• Loan Amounts: There are usually no set smallest or largest amounts for loans from all commercial banks. Each bank decides how much they will lend. This is based on how risky they think it is. It also depends on how much you can pay back and the value of what you offer as collateral.
• Loan Tenor: How long you have to pay back the loan is different for each bank and loan type. It might be shorter compared to some government plans. But they might offer payment plans that fit farming seasons.

Eligible Activities

Commercial banks give money for many farming activities. They often focus on businesses that are already doing well. These businesses should show they can make money in different parts of the farming business.

Which Banks Offer Agricultural Loans in Nigeria?

Main commercial banks in Nigeria that have special teams for farming money include Access Bank, First Bank, Zenith Bank, UBA, and Stanbic IBTC, among others. You should ask each bank to find out what specific loans they offer.

How to Apply for a Commercial Bank Agricultural Loan

To apply, you need to go to the farming desk at a commercial bank. Talk about your project. Then give them a formal loan application with the needed papers. This usually includes:

• Papers showing your business is registered.
• A full and well-written plan for your business.
• Detailed reports about your business’s money (past and expected).
• Papers for the collateral you can offer that the bank will accept.
• Your BVN and other ID.
• Bank statements.

A major problem for farmers with commercial banks is that they often need traditional collateral. This means things like land papers that can be easily used. This is especially true in cities or nearby areas. Many small farmers in the countryside do not have these. Banks are also careful because farming can be seen as risky. This might mean they ask for more things. But commercial banks do help provide money for agribusiness.

For example, Sterling Bank says they have trained over 22,000 farmers and given out over N500 billion in farming money. They share stories from people who said it helped their farming businesses and harvests [Source: Sterling Bank webpage]. FirstBank also talks about the big help they give through the CACS plan. They also help state governments with plans for small farmers [Source: First Bank of Nigeria webpage].

Who are Commercial Bank Loans Best Suited For?

Loans from commercial banks are usually best for farming businesses that are already set up. They are good for medium to large-sized businesses. These businesses should have strong money records, a lot of collateral, and a history of doing well.

What Makes it Hard to Apply for Commercial Bank Agricultural Loans?

Challenges include meeting strict collateral requirements. Interest rates can be higher compared to government plans. The application process can be detailed and sometimes long. You also need to show you have enough money history and expected income to meet the bank’s risk checks.

Common Reasons for Rejection

• Not enough or not the right kind of collateral based on the bank’s rules.
• A bad history with paying back loans for the person or business.
• A business plan or money plans that are not convincing or well-supported.
• The bank’s check of how risky the specific project or type of farming is.
• Paperwork that is not complete or has mistakes.
• Having too much debt compared to what the business is worth.

Building a good relationship with your bank and asking specifically about their farming loan products is important. You can often find information about farming money on the websites of each bank.

7. State Government Agricultural Loan Schemes: Agric Business Loans in Nigeria You Can Apply for in 2025

Many states in Nigeria have their own State Government Agricultural Loan Schemes. These plans help farmers and agribusinesses in their state. These plans are often made for the specific types of farming and goals that are important in that state. They are key for providing money to farmers and agribusinesses locally. If you want to apply, you MUST check with your state’s Ministry of Agriculture or other related offices. Do this to get the newest details for 2025. This includes if money is available, who can get it, interest rates, and how to apply. These details change a lot for each state.

Interest Rate and Loan Details

• Interest Rate: The rate changes depending on the state and the specific plan. Some states, like Oyo State, have said they plan to offer single-digit interest rates for their 2025 farming loan plans to help grow more food. The rates are often lower than commercial banks because the government helps pay for them.
• Loan Amounts and Tenor: How much money you can get and how long you have to pay it back are very different. It depends on the specific plan, how much money the state has for farming, and the size and type of the project. The time to pay back is often set to match when you harvest your crops or sell your products.

Eligible Activities

The farming activities that are allowed usually focus on the crops, animals, or types of farming businesses that are important for that state’s farming plan and making sure the state has enough food.

How to Apply for State Government Agricultural Loans

Information about these programs is usually available from the state’s Ministry of Agriculture, farming development groups in the state, or other state farming offices. The application process and requirements are also very different for each state. But they often include:

• Proof that you live in the state.
• ID papers.
• A business plan that fits with what the state is focusing on in farming.
• Possibly a guarantor or a promise from your farming group (especially for plans for small farmers).
• You might need to be a member of a registered farming group or cooperative for some plans.
• Proof that you own the land or have the right to use land in the state.

A big problem seen with the Oyo State plan was that many people who received loans did not pay them back on time. This shows how important it is to pay back loans on time in state plans. It can also affect if these plans are available in the future. Stories about people doing well with state plans might only be known locally. But these programs are very important for getting money to farmers in their local areas. They also help the state’s farming goals.

Who are State Government Schemes Best Suited For?

State government plans are best for farmers and agribusinesses working in that specific state. Their projects should fit with the state’s farming goals. They are often made to help small farmers and local projects. To be able to get money from state plans, you often must live in that state or work on specific projects the state is promoting.

What Makes it Hard to Apply for State Government Agricultural Loans?

Challenges include finding out about new state plans and when you can apply. These times can change every year. Possible unfairness in choosing who gets the money can be a problem. There might be less money available compared to national plans. The plan might also stop. Many people not paying back loans can also make it harder to get money in the future.

Common Reasons for Rejection

• Not meeting strict rules about living in the state.
• Applications that are not complete or filled out correctly.
• A business plan or idea that is not convincing or does not fit with what the state wants to do.
• A bad history with paying back previous state loans.
• Not having the needed papers. Or not being able to meet the rules for guarantors or collateral (which are different for each plan).
• Not enough money available for the plan. This could be because too many people applied or the budget is small.

A good place to start for information about bigger farming plans from the national government is the Federal Ministry of Agriculture and Food Security website.

So, there you have it – a look at the main ways to get farming money in Nigeria in 2025. We’ve included details about what they offer, what you need, what can be hard, and links to help you find out more. We also looked at how they are helping. Each one gives a different way to get the money you need. It is about finding the one that is the best fit for what you need and how big your farming business is.

Quick Comparison: Main Agric Business Loans in Nigeria (2025)

Here’s a table that simply shows the main things about key agric business loans in Nigeria so you can easily compare them:

Loan Scheme	Interest Rate (Around)	Who it Helps Most	Highest Loan Amount (Around)	How Long to Pay Back (Around)	Main Farming Activities It Covers	Common Reasons Applications Are Turned Down
Commercial Agriculture Credit Scheme (CACS)	Single-digit (up to 9%)	Big commercial farms, State governments	N2 Billion (N1 Billion for States)	Changes by project	Growing, processing, storing (crops, animals, fish)	Business plan not convincing, not enough collateral, bad loan history, project doesn’t fit
AGSMEIS (Farming Part)	9%	Small & medium farming businesses	N2 Billion	1-7 Years	Growing, processing, moving goods, making things, etc.	Not passing training, bad business plan, no guarantors, business type not allowed
Agricultural Credit Guarantee Scheme Fund (ACGSF)	Set by the bank	Small & medium farmers, Food processors	N100k (no collateral), N50M (with collateral)	Set by the bank	Growing, raising animals, all steps in farming business	Bad loan history (by bank), not enough collateral (by bank), application not complete
Bank of Agriculture (BOA) Loans	Usually Good	People, Farming groups, Companies	Up to N1 Billion	Changes by what you borrow	Growing crops, raising animals, fishing, processing, etc.	Application not complete, business plan not convincing, not enough collateral, bad loan history
National Agricultural Development Fund (NADF) Loans	Good, easy terms	Farmers, Farming groups, Organizations	Changes by plan	Changes by plan	Growing, raising animals, fishing, processing	Not meeting plan rules, plan not convincing, project doesn’t fit what they want to do
Commercial Bank Farming Loans	Market rate (Higher)	Established farming businesses	Changes by bank	Changes by bank	Different farming business steps	Not enough collateral, bad loan history, business plan not strong, bank thinks it’s too risky
State Government Farming Loans	Changes (some single-digit)	Farmers/Farming businesses in the State	Changes by state	Changes by state	Farming important to that state	Not living in the state, application not complete, plan not convincing, bad history with state loans

Note: Interest rates, loan amounts, and how long you have to pay back can change based on new rules and the market. Always check with the official sources for the newest details.

What You Need and If You Can Get Agric Business Loans in Nigeria (2025)

Knowing the general things you need and who can get farming money is very important before you apply. The exact details are different for each plan and bank. But getting these common things ready will make applying much easier.

Here are the main things you will likely need and reasons you can get the loans:

• Business Registration: Most lenders need your business to be properly registered with the government office (Corporate Affairs Commission or CAC). This shows your business is real. But, for the AGSMEIS loan, you do not need to register your business before applying. This is a key point for smaller or new farming businesses.
• Business Plan/Feasibility Study: This is probably the most important paper. It shows your idea, how you understand the market, your money plans for the future, and how you will pay back the loan. A good plan that is written well shows you know what you are doing and makes banks trust you more. For plans like AGSMEIS, you must give them this plan after you finish the training.
• Bank Verification Number (BVN): This is a normal number used for money in Nigeria. You need it for BOA loans and AGSMEIS.
• Proof You Own or Can Use Land: You usually need to show papers that prove you own the land or have the right to use it. Land is often used as collateral for farming loans in Nigeria.
• Tax Returns/Compliance: You might be asked to show that you pay your taxes.
• Collateral: What you need for collateral is very different. It can be land, buildings, tools, life insurance, stocks, shares, a personal promise to pay, or a promise from your farming group. AGSMEIS generally doesn’t need traditional collateral but needs two guarantors. If you are looking for collateral free agricultural loans Nigeria, AGSMEIS or some small loan options might be good to check. But always ask about the exact rules.
• Credit History: Lenders will look at how you have managed money you borrowed before. Having a good history is very important. If you had problems before, you should talk about them honestly and show how you have gotten better at managing money.
• Guarantors: Some plans, like AGSMEIS, need people to promise they will pay back the loan if you cannot.
• Minimum Savings Balance: For some BOA loan products, you need to have a certain amount of money in a savings account.
• Residency: For state government plans, you often must prove you live in that state to be able to get the loan.

Remember, the exact things you need can be different for each lender and plan. Always check the specific rules for the loan you are interested in. But having these points in order are great starting points if you are looking for farming money in Nigeria.

Tips for Getting Agric Business Loans in Nigeria Successfully

Applying for farming loans in Nigeria can feel like a big task. But if you do it the right way, you can greatly increase your chances of getting the money. Here are some helpful tips to think about when you are looking for agribusiness finance in 2025:

1. Do Your Homework: Look into different plans and banks very carefully. Find the best one for what you need and how big your farming business is. Understand their rules, interest rates, what farming activities they support, and who they want to help. Check the official websites linked in this guide. Do this to get the most correct and newest details on how to apply for agric loans in Nigeria for each specific plan.
2. Write a Detailed and Real Business Plan: This is a very important step. Your plan should clearly show what your project is about. Include market analysis, your farming plan, and money plans (costs, money coming in, and how money moves). Also, include a clear plan for how you will use the loan money and pay it back. Be careful with your money guesses. Be real about problems that might come up. This plan is key to showing that your farming business can work and make money.
3. Make Sure All Your Papers are Complete and Correct: Incomplete or incorrect paperwork is a very common reason for delays or being turned down. Double-check all the papers you need many times. This includes your CAC documents (if needed), land papers or agreements to use land, permits, money records, ID (including BVN), and any other papers the bank asks for. Knowing exactly what documents needed for agric loan Nigeria for the plan you choose is very important.
4. Build a Good Relationship with Banks You Might Borrow From: If you are applying through a commercial bank or BOA, visit their local offices. Talk with the people who work with farming businesses. Discuss your project with them before you officially apply. What they tell you can be very helpful. Having a good relationship can sometimes help make the process smoother. For AGSMEIS, work closely with the approved training center.
5. Understand the Rules and What You Are Agreeing To: Before you sign any loan paper, make sure you fully understand everything. This includes the interest rate (check if it is a single digit interest agricultural loan). Also understand the repayment schedule, any fees or extra costs, and what happens with the collateral you provide. Ask questions if anything is not clear.
6. Deal with Problems from Your Money History Right Away: If you are worried about how you managed money you borrowed in the past, be ready to talk about it openly and honestly with the bank. Explain any past problems. Show what you have done to get better at managing money. Paying back loans well is very important to banks. Knowing what happens if you do not pay back (like not being able to get loans later, as seen with the Oyo State loan is necessary.

By following these tips, you are not just sending in an application. You are showing strongly why your farming business is a good and safe place to invest. It is about showing you are ready, professional, and serious about doing well in your farming business.

Other Ways to Get Money for Agric Business in Nigeria

We have talked a lot about the main farming loan plans and bank offers for 2025. But it is good to know that there are other ways to get money for agribusiness. Looking at a mix of options or thinking about other choices can be helpful. It depends on what you need and how big your business is.

Besides the main loan programs, think about:

• Agricultural Grants: Sometimes, the government, international groups that help countries, or non-profit groups (NGOs) offer money that you do not have to pay back. These grants often help with specific things. This could be research, training, or helping farmers who need extra help. You do not have to pay back grants. But many people apply for them, so it is hard to get one. They also have strict rules. Keep an eye on the Federal Ministry of Agriculture and Food Security website and the websites of international groups for news about grants.
• Farmer Cooperatives: Joining or starting a farming group or cooperative can be a smart step. By putting money together and promising to help each other, groups can sometimes get loans or money chances that individual farmers might not be able to get alone. They can also give helpful support, training, and help with selling products. The Bank of Agriculture (BOA), for example, works with cooperatives to lend money to their members.
• Private Investors: If your agribusiness is bigger and has a good chance to grow a lot, you might be able to get money from private people or companies. This could mean talking to people who invest their own money (angel investors). It could also mean talking to companies that invest in new businesses (venture capitalists). Or companies that invest in businesses that are already doing well (private equity firms) who are interested in farming. This usually means you will give them a part of your business. The National Agricultural Development Fund (NADF) is actively asking private companies to work with them more. They are also looking at ways to mix private and government money. This shows that private money is becoming more interested in farming.

Looking into these other options can give you more ways to get the money you need. They can be used instead of or together with the farming loans we have talked about. This can help you put together the right money plan for your agribusiness to do well. It is all about being smart and looking at every way to get agribusiness finance in Nigeria.

Frequently Asked Questions (FAQs)

Conclusion: Getting the Money Your Agric Business Needs in Nigeria

Getting the right money for your agribusiness is a very important step. It helps you make your farm bigger, use modern ways of farming, and make sure your business does well in the future. It is like the fuel that can help your business grow. It also helps you deal with the challenges in farming.

We have looked at the main farming money plans. These include CACS, AGSMEIS, ACGSF, BOA loans, NADF money, offers from commercial banks, and state government plans. Each one offers a possible way to get the money you need for your farming business.

Ready to take the next step? Do not just stop here! I strongly suggest you visit the official websites we have linked in this guide. These include the Central Bank of Nigeria, Bank of Agriculture, and National Agricultural Development Fund. Do this to get the newest and most exact details for each loan plan. What you need and if they are available can change. So, getting the information right from the source is key. Start getting your papers ready. Make your business plan. Get in touch with the right banks or groups. Your journey to getting agribusiness finance in Nigeria starts with knowing these things and taking the first informed step!

Remember the main points: do your research, make a solid business plan, get your papers in order, and understand the rules. This includes the details about collateral and paying back the loan. Getting agribusiness finance in Nigeria takes time. But it is worth it. With the right money help, farming in Nigeria has a huge chance to grow and do well.

What do you think about these loan options? Have you applied for any of them before? Share what you know or ask any questions in the comments below! Let us keep talking and help each other do well in the important work of providing food for our country.

Disclaimer: Important Information – Please Read Carefully

This guide provides general information only and does NOT constitute financial advice.

Loan details (like interest rates, who can get loans, if they are available, and how to apply) can change. The groups that manage these loans might update this information. The details here might be different from what is currently offered.

Readers are ONLY responsible for checking all information with the official sources (like the CBN, BOA, NADF, government offices, and banks that give the loans). Readers are also responsible for any money choices they make.

We are not connected to any of the loan plans or groups mentioned. We do not handle loan applications.