Farmers are very important in nation building because the feeding of the country, solely relies on their output. The government realizes that, and have set up several schemes to aid and improve agricultural jobs in Nigeria.
Months ago, the government launched the P-AADs loan for farmers. And here is what the P-AADS loan is all about.
About P-AADS Loan
P-AADS whose acronym is “Private Sector-Led Accelerated Agriculture Development Scheme” is another Federal government of Nigeria farmers loan amongst other agricultural loan, targeted at aiding farmers or start up farmers to increase food production and provide food security in Nigeria.
Objective Of P-AADS Loan
The specific objectives are to:
- Fast track land clearing for primary production of agricultural commodities;
- Promote food security through the provision of large contiguous land for
agricultural production across all states;
- Collaborate with agro-processors engaged in backward integration by providing financing for extended land clearing in proximal locations for cultivating commodities for supply of industrial raw materials;
- Support other capable stakeholders interested in unlocking land for agriculture through appropriate financing; and
- Engender job creation for individual farmers that will cultivate on the cleared land.
- Agro-processors of agricultural commodities engaged in backward integration;
- Prime anchors and commodity associations participating under the Anchor Borrowers’ Programme (ABP) with evidence of contiguous land readily available for clearing and cultivation of agricultural commodities; and
- Other companies and individuals with evidence of ownership of contiguous land readily available for clearing and cultivation of agricultural commodities.
- Survival Fund Registration Portal
- NPower Recruitment
- Npower Registration
- Nigeria Police Shortlisted Candidates
- WAEC Recruitment
- NPower News
- INEC Recruitment
- Nigeria Immigration Recruitment
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- Nigerian Air Force Recruitment
- Nigerian Navy Recruitment
- Nigerian Army Recruitment
Annual crops: Maximum tenor of six (6) years with six (6) months moratorium.
Perennial crops: Maximum tenor of ten (10) years with one-year moratorium.
Collateral Requirement: The collateral to be pledged by participants under the Scheme shall be title of the cleared land and other acceptable collateral prescribed under the ABP. CBN shall bear 50% of the credit risk in the event of default by the participant.
Agricultural commodities eligible for consideration under the Scheme are:
x. Oil Palm
xiii. Any other commodities as may be listed by the CBN from time to time.
Prospective P-AADS participants must:
i. be existing or new firms engaged in agricultural production with proven capacity
and bankable proposal
ii. possess acceptable title for contiguous lands of not less than 20 hectares;
iii. have good credit record
iv. be able to provide the required collateral for participation and
v. Provide evidence of capacity to cultivate a focal commodity directly or engagement
of farmers, including youths as in-growers or out-growers to cultivate on the land
The Private Sector-Led Accelerated Agriculture Development Scheme (P-AADS) shall be funded from the Anchor Borrowers’ Programme (ABP).
Other Required Details
You can check out the full required details from the official portal BY:
- Use an adobe reader enabled device.
- Log into the CBN Guideline Portal.
- Read up the Pdf copy of the information posted there and apply now.