Have you heard about the CBN Accelerated Agriculture Development Scheme (P-AADS) Loan? Are you looking for steps on how to apply for the Accelerated Agriculture Development Scheme (P-AADS) Loan? Legit Portal got you covered. We will be given you information about all you need to know about the CBN Accelerated Agriculture Development Scheme (P-AADS) Farmers Loan.
CBN Private Sector-Led Accelerated Agriculture Development Scheme (P-AADS)
To address the food security and youth unemployment challenges across the country, the CBN introduced the Accelerated Agriculture Development Scheme (AADS) to engage 370,000 youth in agricultural production, in collaboration with state governments.
P-AADS Farmers Loan Interest Rate
Interest rate under the intervention shall be 5.0% p.a. (all inclusive) up to 28th February 2021.
Interest on the facility from 1st March 2021 shall be 9% p.a. (all inclusive).
Eligibile Commodities for P-AADS Loan Application
Agricultural commodities eligible for consideration under the P-AAD scheme are:
- Rice
- Maize
- Cassava
- Cotton
- Wheat
- Tomato
- Poultry
- Fish
- Sorghum
- Oil Palm
- Cocoa
- Livestock/Dairy
- Any other commodities as may be listed by the CBN from time to time.
P-AADS Loan Limit
The maximum loan accessible under the Scheme shall be N2 billion per obligor.The facility shall be repaid from the Economics of Production (EOP) for cultivating on the cleared farmland.
CBN Private Sector-Led Accelerated Agriculture Development Scheme (P-AADS)
The broad objective of the P-AADS is to facilitate increased private sector agricultural production of staple foods and industrial raw materials, as well as support food security, job creation and economic diversification.
Accelerated Agriculture Development Scheme (P-AADS) Funding
The Private Sector-Led Accelerated Agriculture Development Scheme (P-AADS) shall be funded from the Anchor Borrowers’ Programme (ABP).
SEE ALSO- How to Apply for Lagos State LSETF MSME Loan
How to register/apply for P-AADS Young Farmers Loan
For more details on how to apply or register for P-AADS Loan visit the link provided below
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