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First Bank Commercial Agriculture Credit Scheme – Register Now

First Bank Recruitment

The Scheme is a special credit intervention fund of originally N200billion created by the Federal Government of Nigeria to fast-track the development of the agricultural sector economy by providing credit facilities to commercial agricultural enterprises at a single-digit interest rate.

The key agricultural commodities covered under the Scheme are:

Production:
- Cash Crops: Cotton, Oil Palm, Fruit Trees. Rubber, Sugar Cane, Jatropha Curcas, and Cocoa.
- Food Crops: Rice, Wheat, Cassava, Maize/Soya, Beans/Millet, Tomatoes, and Vegetables
- Poultry: Broilers and Eggs Production
- Livestock: Meat, Dairy, and Piggery
- Aquaculture: Fingerlings and Catfish
Processing: Feed-mills Development, Threshing, Pulverisation, and other forms of transmutation for value addition.
Storage: Commodities, Agrochemicals, and Warehousing.
Farm Input Supplies: Fertilizers, Seeds/Seedlings, Breeder Stock, Feeds, Farm equipment & Machinery.
Marketing: Agricultural commodities under the focal investment areas

Features

Single-digit interest rate (9% all-in, max).
Single obligor limit of up to an N2billion for medium and large-scale private sector enterprises and N1billion for state governments.
The participating private sector entity must have a minimum farm asset base of a million (excluding farmland).
Irrevocable Standing Payment Order (ISPO) is required in the case of State Governments.
Fund available till 2025.
Loan tenor of up to 5 years.

Value Proposition & Gain

Funding is provided at a cheap cost.
The longer tenor of the loan.
Funding targeted specific agricultural production.

Target Market

Medium or Large Scale Commercial Farms involved in the cultivation of crops, rearing of livestock, fisheries, etc.
Limited Liability Companies involved in agricultural production, storage, processing, marketing, and enterprise development.
State Governments and the FCT (for on-lending/special intervention to small-scale farmers).