In a renewed effort to boost food production and empower key players in the agricultural sector, the Kwara State Government has partnered with the Bank of Agriculture (BOA) to provide collateral-free loans to farmers, agribusinesses, and enterprises led by women and youths.
The initiative, spearheaded by the Ministry of Agriculture and Rural Development, was formalized during a working visit by the Commissioner, Dr. Afees Alabi, to the BOA branch in Ilorin. Dr. Alabi met with the Branch Manager, Alhaji Tomori Mahruf, to finalize the details of the collaboration.
With preparations for the 2025 planting season underway, the loan scheme is aimed at removing financial barriers and encouraging wider participation across the agricultural value chain.
The programme offers two loan categories:
•Micro Loans (₦250,000 and below): Designed for smallholder farmers, backyard growers, processors, and agri-SMEs. These loans require no collateral, have minimal documentation, and are intended for quick-impact ventures.
•Macro Loans (up to ₦1 million): Targeted at more established agribusinesses and include three tailored sub-programmes:
1. YARN (Youth Agricultural Revolution in Nigeria) – for young entrepreneurs in mechanized farming, agri-tech, and related enterprises.
2. GEM (Grow and Earn More) – for general farmers aiming to scale operations.
3. WAE (Women Agricultural Enterprise) – for women involved in any aspect of the agricultural chain, from production to distribution.
Civil servants are also eligible for these facilities through salary-backed arrangements.
Describing the initiative as timely and inclusive, Dr Alabi stated that the AbdulRahman AbdulRazaq-led administration remains committed to strengthening food systems, supporting local economies, and expanding access to credit for underserved groups.
Lantana Nasir
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