In a strategic move to enhance food production and empower key stakeholders in agriculture, the Kwara State Government has partnered with the Bank of Agriculture (BOA) to offer collateral-free loans to farmers, agribusiness operators, and enterprises led by women and youths.
The initiative, driven by the Ministry of Agriculture and Rural Development, was solidified during a working visit by the Commissioner, Dr. Afees Alabi, to the BOA branch in Ilorin. During the visit, Dr. Alabi and Branch Manager Alhaji Tomori Mahruf finalized the framework for the partnership.
As preparations for the 2025 planting season gain momentum, the loan programme seeks to eliminate financial constraints and promote broader involvement across the agricultural value chain.
The scheme provides two main categories of support:
* Micro Loans (₦250,000 and below): Intended for small-scale farmers, backyard growers, processors, and agro-based small businesses. These loans require no collateral, involve minimal paperwork, and are designed for ventures with immediate impact.
* Macro Loans (up to ₦1 million): Aimed at larger agribusinesses and structured into three sub-programmes:
1• YARN (Youth Agricultural Revolution in Nigeria): Tailored for young individuals engaged in mechanized farming, agricultural technology, and related sectors.
2• GEM (Grow and Earn More): Created for general farmers looking to expand their operations.
3• WAE (Women Agricultural Enterprise): Focused on supporting women across all segments of the agricultural chain, from production to marketing.
Civil servants can also access the loans through salary-backed options.
Dr. Alabi emphasized that the initiative reflects the AbdulRahman AbdulRazaq administration’s commitment to building resilient food systems, boosting local economies, and ensuring accessible credit for traditionally underserved groups.
