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The agricultural sector remains a vital component of Nigeria’s economy, contributing more than a fifth of the GDP and employing almost two-third of the total working population. The sector is, however, faced with a plethora of challenges, which continues to stifle production and productivity, thereby resulting in declining food self-sufficiency, as reflected in increased food and industrial raw material imports.

Lack of access to finance from traditional banks remains a major challenge to agricultural development in Nigeria, with less than 5% of banks’ credit granted to the sector. In realization of the strategic importance of the agricultural sector to its role of macro-economic development and price stability, the Central Bank of Nigeria (CBN) through its various focused interventions, leverages private sector partnership, commercials banks and other financial institutions to create countrywide impact and resilience in the sector.

The Bank’s interventions in the sector were designed and implemented with the core objectives of increasing agricultural productivity, enhancing food self-sufficiency and promoting food security, strengthening the agricultural value chain, creating jobs and reducing the food import bill, thereby conserving the nation’s foreign exchange The Bank’s core intervention initiatives in agriculture include Commercial Agriculture Credit Scheme (CACS); Anchor Borrowers’ Programme (ABP); National Food Security Programme (NFSP); Paddy Aggregation Scheme (PAS); Maize Aggregation Scheme (MAS); Accelerated Agricultural Development Scheme (AADS); and Private Sector-led Accelerated Agricultural Development Scheme (P-AADS).

Agricultural Credit Guarantee Scheme Fund (ACGSF) Commercial Agriculture Credit Scheme (CACS) Paddy Aggregation Scheme (PAS) Maize Aggregation Scheme (MAS) Rice Distribution Facility (RDF) Anchor Borrowers’ Programme (ABP)     -- Commodity Development Initiative Accelerated Agricultural Development Scheme (AADS)