In a major boost to agribusiness in Kwara, the state government has struck a strategic deal with the Bank of Agriculture (BOA) to provide collateral-free loans to farmers, women-led ventures, youth-owned agribusinesses, and civil servants.
The initiative, spearheaded by the Ministry of Agriculture and Rural Development, was sealed during a visit by Commissioner Dr. Afees Abolore Alabi to BOA's Ilorin Branch. The goal: break financial barriers ahead of the 2025 planting season.
The scheme offers two categories of funding:
Micro Loans (₦250,000 and below): For smallholder farmers, processors, and agro-SMEs no collateral required.
Macro Loans (up to ₦1 million): Targeting youth (YARN), women (WAE), and general farmers (GEM), with flexible repayment options.
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Civil servants can also access these loans via salary-backed plans.
Dr. Alabi called it "a bold step to democratize access to agricultural credit," while BOA's Branch Manager, Alhaji Tomori Mahruf, assured full support and guidance for applicants.
This initiative underscores Kwara's commitment to food security, rural growth, and inclusive agribusiness.
For enquiries, reach out to the Kwara Ministry of Agriculture Help Desk.
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