Agriculture is the backbone of Nigeria's economy — employing over 35% of the workforce — yet farmers consistently cite lack of affordable credit as their biggest constraint. The good news in 2026 is that multiple government-backed schemes offer single-digit interest rates to farmers and agribusinesses who know how to access them. This guide maps every available scheme and tells you exactly how to apply.
- CBN Anchor Borrowers' Programme: 9% p.a. — for smallholder farmers linked to commodity processors
- NIRSAL MFB: 9% p.a. — for farmers and agricultural value chain businesses
- BOI Agric Fund: 7–9% p.a. — for medium-scale agric enterprises with structured plans
- ACGSF (Agricultural Credit Guarantee Scheme Fund): partial guarantee scheme enabling commercial bank agric loans
- State government agric loan schemes: vary by state; some offer 0–5% interest to registered farmers
- LAPO MFB and LAPO Microfinance: group agric loans for smallholder farmers from 2%/month
Agricultural Loan Programmes: Full Comparison 2026
| Scheme / Lender | Interest Rate | Max Loan | Target Borrower | Collateral Needed? | How to Apply |
|---|---|---|---|---|---|
| CBN Anchor Borrowers (ABP) | 9% p.a. | Varies by commodity | Smallholder farmers | None (group/offtaker guarantee) | Via Anchor company or participating bank |
| NIRSAL MFB | 9% p.a. | ₦50,000–₦50M | Farmers + agric SMEs | Partial / NIRSAL guarantee | niraslmfb.com or any branch |
| BOI Agric Fund | 7–9% p.a. | ₦500K–₦500M | Medium-large agric businesses | Required above ₦5M | boi.ng or BOI state offices |
| ACGSF (via banks) | 15–20% p.a. | Up to ₦50M | Agric businesses | 75% guaranteed by FGN/CBN | Apply at commercial bank with ACGSF form |
| Access Bank Agric Finance | 18–22% p.a. | ₦1M–₦100M | Established agric businesses | Required | Any Access Bank branch |
| Zenith Bank Agric Loan | 20–24% p.a. | ₦1M–₦50M | Registered agric businesses | Required | Any Zenith Bank branch |
| LAPO MFB Group Loan | 2–4%/month | ₦50,000–₦500,000 | Smallholder farmers (groups) | Group guarantee | Any LAPO branch |
| FairMoney Agric (fintech) | 3–6%/month | Up to ₦500,000 | Small farmers with BVN | None | FairMoney app |
The Anchor Borrowers' Programme: How It Works
The ABP is one of the most impactful agricultural financing schemes in Nigerian history. Here is how the value chain works: an Anchor company (e.g., Flour Mills of Nigeria for wheat, Dangote Rice Mills for paddy rice) enters into an agreement with the CBN. The Anchor then recruits smallholder farmers in its sourcing area. The CBN provides subsidised loans (9% p.a.) through participating banks to these farmers — disbursed as a combination of inputs (seeds, fertiliser, equipment) and cash. At harvest, farmers repay in kind or in cash, with the Anchor acting as an offtaker at a pre-agreed price.
State Government Agricultural Loan Schemes
- Lagos State: LASAA agricultural support — check the Lagos State Ministry of Agriculture portal
- Ogun State: Ogun State Enterprise Development Agency (OEDA) agric grants up to ₦500,000
- Kaduna State: KADIRS agricultural intervention at 5% p.a. for registered farmers
- Kano State: Kano State Government annual agric support — apply at KNARDA (Kano State Agricultural and Rural Development Authority)
- Cross River: Cross River State Agric Investment Agency — access the online portal for application
- Always check your state Ministry of Agriculture website — new programmes launch regularly
- Join a registered farmers' cooperative — cooperative membership significantly improves your approval chances
- Get a CAC registration for your farm as a business — even a business name registration helps
- Open a dedicated business bank account for farm proceeds and keep it active for 6+ months
- Document your land rights — either a Certificate of Occupancy, land purchase receipt, or formal lease agreement
- Link up with an Anchor company in your commodity area before applying for ABP — they navigate the process for you
- Contact your state's NIRSAL office for guidance — they offer free pre-application advisory sessions
Compare all agricultural financing options available to Nigerian farmers and agribusinesses.
Explore Agricultural Loan Options →Frequently Asked Questions
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