COMMERCIAL AGRICULTURE CREDIT SCHEME ESTABLISHMENT BILL

What Is This Policy?

A bill to formally establish the Commercial Agriculture Credit Scheme as a legal entity providing subsidized credit for commercial agricultural ventures.

Who Does It Target?

Commercial farmers, agribusinesses, banks, and agricultural value chain participants.

What Does It Aim to Achieve?

Provide affordable credit for large-scale agriculture, promote commercial farming, and enhance food security.

Key Features

Framework Standards: Establishes clear standards and guidelines Compliance and Oversight: Provides compliance and monitoring mechanisms Public Benefit: Designed to protect public interest and improve outcomes

Current Status

Rollout Stage: Active/Under implementation or legislative consideration Coverage: Nationwide Lead Agency: Relevant Federal Ministry or Agency

How to Access

Implemented through relevant government agencies. Guidelines and compliance information available through the responsible ministry or agency.

Impact & Metrics

Strengthens institutional, legal, and regulatory capacity in the relevant sector.

Official Resources

Website: nass.gov.ng Contact: Relevant Federal Ministry/Agency, Abuja

Legal Framework

Introduced under the legislative powers of the National Assembly vested by Section 4 of the 1999 Constitution (as amended) to formalize the CBN Commercial Agriculture Credit Scheme. Operates alongside the Agricultural Credit Guarantee Scheme Fund Act (Cap A13 LFN 2004), the Central Bank of Nigeria Act 2007, the Banks and Other Financial Institutions Act (BOFIA) 2020, and the Anchor Borrowers' Programme guidelines. Aligns with the National Agricultural Policy and ECOWAS Agricultural Policy (ECOWAP).