The Kwara State Government is working with the Bank of Agriculture (BOA) to offer loans to farmers, agribusiness owners, and businesses owned by women and young people. These loans do not require collateral; their goal is to increase food production and support important people in agriculture.

The Ministry of Agriculture and Rural Development led the campaign, which got a boost when Commissioner Dr. Afees Alabi visited the BOA branch in Ilorin. During this working visit, Dr. Alabi and Branch Manager Alhaji Tomori Mahruf established the framework for their partnership.

As the 2025 planting season approaches, the loan program aims to remove financial barriers and encourage greater participation throughout the agricultural value chain.

The program offers two primary types of assistance;

1. Micro Loans (₦250,000 and below): Small-scale farmers, backyard growers, processors, and agro-based small businesses. These loans require no collateral, involve minimal paperwork, and are designed for immediate-impact ventures.
2. Macro Loans (up to ₦1 million):  Larger agribusinesses and structured into three sub-programmes:

• Youth Agricultural Revolution in Nigeria (YARN): Tailored for young individuals engaged in mechanised farming, agricultural technology, and related sectors.
• Grow and Earn More (GEM): Created for general farmers looking to expand their operations.
• Women Agricultural Enterprise (WAE): Focused on supporting women across all segments of the agricultural chain, from production to marketing.

Civil servants also have salary-backed loan options. 

Dr. Alabi stressed that the program reflects the AbdulRahman AbdulRazaq administration’s dedication to strengthening local economies, creating resilient food systems, and making credit available to traditionally marginalised populations.

Source: AgroNigeria

Image Credit: High Profile