• Developed to finance agricultural productions and Agro-allied activities.
• Loan volume ranges from above N250,000.00 to a maximum of N50,000,000.00.
• Limit of N5,000,000.00 to individual persons.
• Above N5,000,000.00 to corporate organisations.
• Loan tenor not exceeding 5 years.
• Disbursement both cash and kind.
• For both individuals and cooperate bodies.
• Staggered disbursement .
• Backed up with viable, profitable and bankable business proposal.
• Agro-business must be a clause in the Memart of the company for corporate applicants.
• Security acceptable to BOA requirement
• Interest rate 14% for agricultural production and agro-processing while commodity marketing is 20%.
• Current tax clearance certificate required.
• Last 3 years audited statement of account or statement of affairs required.
• Consent to mortgage of the landed property being pledged as security for the loan required.

• Developed to finance large agricultural production and Agro allied activities.
• Loan volume ranging from above 50 million to a maximum of 1 billion for a single obligor.
• Accessed by corporate bodies only.
• Loan tenor not exceeding 5 years
• Disbursement both cash and kind.
• Staggered disbursement.
• Backed up with viable, profitable and bankable business proposal.
• Agro-business must be a clause in the Memart of the company for corporate applicants.
• Security acceptable to BOA requirement.
• Interest rate 14% for agricultural production and agro-processing while marketing is 20%.
• Current tax clearance certificate required.
• Last 3 years audited statement of account or statement of affairs required.
• Consent to mortgage of the landed property being pledged as security for the loan required.

• Developed to encourage Nigerian Youths to key into agriculture and take it as an investment or business.
• The maximum loan limit under this product is N1 million per beneficiary.
• The beneficiaries must be small holders as defined under the Nigeria Incentive Risk Sharing for Agricultural Lending (NIRSAL) guidelines.
• To facilitate unhindered access by these target groups, the beneficiaries need not have collaterals but must provide acceptable guarantors.
• The loans are accessible by individuals or groups. The individuals in the group can get N1 million each subject to technical determination of scope and financial requirements of the project.
• The loans can be access by individuals and groups in line with NIRSAL Credit Risk Guarantee (CRG) and Interest Draw Back Program (IDP).
• Loan period, Grace or Moratorium on the products will be determined based on the project type.
• NIRSAL provides 75% credit guarantee.
• Interest Rate 12%.

• Developed to encourage Nigerian women to key into agriculture and take it as a business.
• The maximum loan limit under these products is N1million per beneficiary subject to technical determination of the scope and the input requirements.
• The beneficiaries must be small holders with the required land for cultivation or any of the value chain products.
• To facilitate unhindered access by these target groups, the beneficiaries need not have collaterals. In lieu of this, there will be collateral substitutes such as adequate and acceptable guarantors with verifiable income, NIRSAL Credit Risk Guarantee to cover 75% of loan delinquency.
• The loans are accessible by individuals or groups. The individuals in the group can get N1 million each subject to technical determination of scope and financial requirements of the project.
• Loans Period, Grace or Moratorium on the products will be determined based on the project type and the gestation of the project.
• Interest Rate is 12%.

Provision of security which could be collateral security or irrevocable standing payment order (ISPO).
Provision of viable profitable and bankable business plan.
Interest rate negotiable.
On-lending organization responsible for recovery of the loan inclusive of the accrued interest.
Reduces cost of loan administration.
Allows reaching many customers.

The new product/approach has brought about a paradigm shift in the agricultural sector with a primary objective of focusing on agriculture as an investment or as a business instead of a developmental project. This has therefore given birth to what is now known as Agricultural Transformation Agenda (ATA) of the Federal Government of Nigeria.

• Purchase of breeders seeds from Research Institutes.
• Supply these inputs to their out-growers.
• Pay for the labour services to be provided by the out-growers.
• Pay for the extension services.
• Buyback the seeds from the out-growers as certified seeds to be sold to farmers as improved seeds to enhance productivity which is a limiting factor to Nigeria farmers.
• Fertilizer companies will require this type of facility to enable them.
• Import fertilizers.
• Establish new fertilizer blending plants.
• Resuscitate existing moribund or dead fertilizer blending plants.

This involves the establishment of formal relationship with a third party for the purpose of implementing agricultural credit projects jointly. It is another strategy through which the Bank reaches clientele at the grassroots. Some of the Bank’s collaborating partners are: Federal, States and Local Government Agencies, NGOs, Micro-Finance Banks, Micro-finance Institutions, Financial Co-operatives etc.

• Formal expression of interest to collaborate with the bank.
• Submission of collaboration proposal
• Appraisal of the proposal by the bank.
• Terms and Conditions worked out.
• Preparation of Memorandum of Understanding (MOU).
• Executed MOU must be forwarded to implementing zones and branches for proper implementation and monitoring.
• Interest Rate Negotiable.
• Reduces cost of loan administration.
• Allows reaching many customers.

BOA is driving the Private Sector ATA Mechanization Intervention Programme of the Federal Ministry of Agriculture and Rural Development.
The pilot programme is intended to establish 80 Agricultural Hiring Centres nationwide. Each centre will be equipped with five(5) tractors along with the implementation and other agricultural machineries and equipment.

• Must be a limited liability company duly registered with Cooperate Affairs Commission.
• Agro-business must be clause in the Memart.
• Board resolution to access facility from bank of agriculture .
• Provision of viable, profitable and bankable business plan/feasibility study.
• Must be duly registered with the National Agricultural Seed Council (NASC) in the case of seed companies.
• Evidence of quality control unit in the case of fertilizer companies.
• Agricultural machineries and equipment to be financed must be certified by the National Centre for Agricultural Mechanization (NCAM) in the case of Agricultural Service Provider Operators.
• Recent tax clearance certificate required
• Last 3 years statement of audited account or statement of affairs in the case of new companies required.

Warrant age or Inventory Credit Facility. Here farmers will be given credit for dry season income generating activities after the harvest of their produce, while their harvests will be kept in stores and serve as collateral for the credit extended.

Features include:

Involves farmers, collateral managers and the bank
The commodities must be inspected and certified by collateral managers
The commodities must be discounted by 30%
It finances a short conversion cycle project
Goods in the warehouse are insured

Component of Agricultural Value Chain:
To ensure National Food Security and reduce post-harvest losses, the Bank has developed a credit product known as “Agro-processing Facility”.
The facility will provide funds to existing or potential private investors who desire to establish an urban or cottage agro-processing industry
The existing or potential private investors might require one or all of the following:

For limited liability companies
Companies duly registered with Cooperate Affairs Commission (CAC)
Agro-business to be a clause in the Memart of the company
Board resolution to access facility from bank of agriculture
Provision of viable, profitable and bankable business plan/feasibility study.
Evidence of registration with NAFDAC
Recent tax clearance certificate required
Last 3 years statement of audited account or statement of affairs in the case of new companies required.

This credit facility is developed to support private investors who are engaged in transportation of agricultural goods. The facility to be accessed by these investors will be used to procure trucks or other types of vehicles as the needs dictate.

For limited liability companies
Companies duly registered with Cooperate Affairs Commission (CAC)
Agro-business to be a clause in the Memart of the company
Board resolution to access facility from bank of agriculture
Provision of viable, profitable and bankable business plan/feasibility study.
Recent tax clearance certificate required
Last 3 years statement of audited account or statement of affairs in the case of new companies required.

The Federal Government of Nigeria in its efforts to boost sugar production and regain its lost glory in sugar production has conceptualised a programme tagged “The Nigerian Sugar Master Plan”. Presently, the Bank in collaboration with the National Sugar Development Council (NSDC) is driving the implementation of this laudable initiative of the Federal Government.

For financing the entire Sugar Value Chain
For both individual and cooperate body players in the sugar industry

The bank in its efforts to support the National Food Security introduced a credit product called “Ranching Development Credit Facility”.
The introduction of this facility will go a long way to arrest the current incessant clashes between the Crop farmers and headsmen.

• For limited liability companies.
• Companies duly registered with Cooperate Affair Commission (CAC).
• The company must include Agro-business as a clause in its Memart.
• Board resolution to access facility from bank of agriculture.
• Provision of viable, profitable and bankable business plan/feasibility study.
• Recent tax clearance certificate is required.
• Last 3 years statement of audited account or statement of affairs in the case of new companies is required.

Hides and skin was one of the major sources of foreign exchange earnings in Nigeria before the discovery of oil in the late 1960s.
Sequel to the discovery of oil, this very important industry was abandoned with resultant negative effects namely: reduction in foreign exchange earning and job creation.
In an attempt to reverse this unpleasant development the Bank has introduced a credit product named Hides and Skin Revival Credit Facility. This is to assist governments and potential private investors to access funds from the Bank to accomplish the following

For limited liability companies
Companies duly registered with Cooperate Affairs Commission (CAC)
The company must include Agro-business as a clause in its Memart
Board resolution to access facility from bank of agriculture
Provision of viable, profitable and bankable business plan/feasibility study.
Recent tax clearance certificate required
Last 3 years statement of audited account or statement of affairs in the case of new companies required.

This product is in line with the Federal Government’s initiative to hasten economic development by encouraging job creation and improving the present dismal balance of trade in Nigeria hence easing pressures on scarce foreign exchange presently deployed to the importation of food commodities and other items

It is a short term facility under this program, BOA provides credit financing at pre-shipment and invoice discounting of confirmed orders at the post-shipment stage; thereby assisting Nigerian exporters in making sales that might not otherwise occur. The product provides direct credits to exporters for production or procurement at pre-shipment and avails invoice discount at post-shipment on the bases of payments due from foreign banks under confirmed letters of credit (LCs) to Nigerian exporters. It is the Nigerian exporter who must request for a confirmed letter of credit and bear the cost of confirmation. As such, the exporter may factor this cost into the selling price prior to the contract negotiation process. The post shipment discount covers up to 70 percent of the export proceeds while pre-shipment financing shall be 70 percent of verifiable export off-take contract.

This product was developed to make agricultural produce readily accessible to all at competitive prices while ensuring strict adherence to international standards, certifications and regulations applicable to food processing.
This product program is part of the plan to ensure consumption of locally produced food stuffs in line with the Federal Government’s resolve to encourage the conservation of scarce foreign exchange presently deployed to the importation of food commodities, while at the same time creating valuable jobs in the agricultural sector.

The CFFP envisages the direct supply of foodstuff to families through registered Cooperatives that meet the qualifying criteria in order to reduce the prices, taking advantage of economies of large scale supplies. In addition, it will provide credit facilities to enable Cooperative members’ access foodstuff for ninety (90) days with only a 40% down payment and the direct sourcing of food stuffs from local primary producers and processors. This would assure quality and reduce incidences of contamination arising from poor handling. With food issue settled on the home front, it is expected that productivity of beneficiaries would improve even at work, while their overall well-being is expected to also improve. The target customers are as follows;

• Corporate organizations or co-operatives that are able to guarantee a minimum of 1,0000 staff/members capable of paying back N40,000.00 – N60,000.00 over 3 months (quarterly) from their salaries or income at a ratio of 40% (Month 1): 30% (Month 2): 30% (Month 3).
• Independent working class with an income of not less than N50,000 Monthly willing to register with recognized cooperative bodies (e.g. Abuja Cooperative Financing Agency and Lagos State Cooperative Federation)
• Existing registered members of these cooperative bodies (Abuja Cooperative Financing Agency and Lagos State Cooperative Federation)

This product will contribute to the success in agricultural business and also impact on economic and job growth.
According to the Policy and Strategy Document of the Federal Ministry of Agriculture and Rural Development (FMARD) with respect to “The Agriculture Promotion Policy (2016-2020)”, the two key gaps in agriculture confronting Nigeria today are an inability to meet domestic food requirements and an inability to export at quality levels required for market success. The document further tied the former problem to productivity challenge driven by an input system and farming model that is largely inefficient. Some of the inefficiencies are not unconnected with the crude model of farming which this product program seeks to address by providing access to mechanized farming input to improve on productivity levels.

The minimum documentation requirement for the target beneficiaries, however, additional documents may be required as the need arises based on the transaction in focus:

• Formal application letter requesting for the facility from qualifying Lessees.
• Certificate of registration/incorporation from Lessee’s firm.
• Regulatory Certificates for regulated products from relevant regulatory agencies like NAFDAC and SON Certifications.
• The Article and Memorandum of Association of the Lessee.
• Credit Proposal Memorandum.
• Commitment/ Offer Letter.
• Executed Lease Agreement.
• The Sale Agreement.
• Purchase Agreement.
• Lessee’s unqualified audited accounts for 3-5 years immediately preceding the application.
• Six months or more bank statements of the lessee immediately preceding the request letter.
• Financial Projection of the Lessee during the lease period.
• Profile of the Board of Directors and Management Team of Lessee.
• Description of the business of the Lessee, including but not limited to information on market share, sources of raw materials and other inputs, manufacturing processes and operating cycle, major suppliers and buyers including off-take agreements or supply contracts, other relevant information that could impact on the decision of the Lessor.
• Current invoice from approved vendors (attached appendix) on asset(s) to be leased.
• Detailed technical specifications of the asset, its year of manufacture, model, make, serial number, engine and chassis number (where applicable) and expected economic life of the asset.
• All outstanding debt obligations of the Lessee to creditors, including leases already undertaken which may be verified through enquiries.
• Clean credit report on the qualifying Lessee.
• Evidence of registration on the National Collateral Registry.
• Submission of list of members of the cooperative to benefit under a co-operative arrangement.