Divisi
Bank of Agriculture credit facilities
Credit / finance · Nigeria · also called BOA, Bank of Agriculture Limited
Nigeria's government-owned agricultural bank. It lends to individual farmers, cooperatives, women, youth groups and agribusinesses for growing, processing and marketing crops and livestock, through 110 branches nationwide.
What to know
| Administered by | Bank of Agriculture Limited — 60% owned by the Ministry of Finance Incorporated (MOFI) and 40% by the Central Bank of Nigeria (CBN) |
|---|---|
| Who qualifies | A farmer must open and keep an account at the BOA branch nearest the farm and hold it for at least three months before a micro loan can be considered; a lien deposit (20% of the loan for micro loans, 10% for the youth and women loans) and two guarantors are also required. |
| What you get | Loan facilities for individuals, farmers, women, youth, SMEs, cooperatives and corporates — Production Loans at 9% interest, Processing Loans at 12% and Marketing Loans at 20%, plus a 0.5% appraisal fee, 0.5% commitment fee and 1% annual management fee. |
| How to register | Open an account at the nearest BOA branch, then submit the Bank's Loan Application Form there together with a business plan or feasibility study, guarantor forms, valid ID and BVN, and — for larger loans — financial statements and security documents. |
| Contact | Tel: +234 704 020 2222 / +234 704 226 2222. Email: info@boanig.com. No 1 Yakubu Gowon Way, P.M.B 2155, Kaduna, Nigeria. |
Plan your season on your own field
Divisi covers input programmes, extension agencies and shows alongside what to plant, when to plant it, and what to do each week on your own field. Free for farmers, works offline.
