Are you in search of the P-AADS Farmers Loan Registration Portal or how to apply for the loan? Don’t worry because we’ve got you covered. The P-AADS loan also known as the Private Sector-Led Accelerated Agriculture Development Scheme (P-AADS) is a programme initiated by the Central Bank Of Nigeria (CBN).
If you are a farmer who is in need of a loan to improve the production of your products, then below is all you need to know about the ongoing P-AADS loan AKA farmers loan.
P-AADS Farmers Loan Registration Portal
The main aim of creating the Private Sector-Led Accelerated Agriculture Development Scheme (P-AADS) is to boost the private sector staple food production, support food security, industrial raw materials, job creation and economic diversification.
The scheme was introduced by the Central Bank of Nigeria (CBN) in order to reduce youth unemployment challenges and address food security across the country. The aim is to engage 370,000 youth in agricultural production, in collaboration with the state governments.
Requirements for the P-AADS Farmers Loan
Prospective participants of the P-AADS Loan must:
- Be either new or existing firms engaged in agricultural production with a bankable proposal and proven capacity.
- Have an acceptable title for contiguous lands which must not be less than 20 hectares.
- Possess a good credit record and be able to provide the required collateral for participation.
- Show evidence of capacity to cultivate a focal commodity directly or engagement of farmers, including youths as out-growers or in-growers to cultivate on the land after clearing.
What Is The Interest Rate?: The interest rate under the intervention is 5.0% p.a. (all-inclusive) up to the 28th February 2021. Nevertheless, from the 1st of March 2021 interest on the facility will be 9% p.a. (all-inclusive).
Eligible Commodities for the P-AADS Loan
Below are the agricultural commodities eligible for consideration under the P-AADS Scheme:
- Oil Palm
- Any other commodities as may be listed by the CBN from time to time
OTHER GOVERNMENT GRANTS & LOANS
How Do I Apply For P-AADS Farmers Loan
If you are interested in applying for the P-AADS Farmers Loan, then simply visit www.cbn.gov.ng/p-aads to acquaint yourself with the application registration guidelines. We will release a new link for the registration officially soon.
Please click on the RED BELL ICON on the Right-Hand in order to get a notification when the new link is provided. Thanks for stopping by.