Maize Aggregation Scheme (MAS)
Development Finance | Agriculture | Manufacturing | MSMEs | Health | Energy/Infrastructure | Financial Inclusion | National Collateral Registry | Export
The MAS was established in June 2019 for feed millers, poultry farmers, silos and warehouse operators and confectionery companies to have access to affordable credit for the purchase of home-grown maize.
The objectives of the scheme are to:
- Stabilize price of maize and make its production profitable for farmers
- Increase local production of maize
- Provide credit facilities to companies using maize as their major component
- Enhance national food security.
How to Apply
All applications for loans under the Scheme are made through the Participating Financial Institutions(PFI). See Guidelines for further information.
| Questions | Responses | |
|---|---|---|
| 1 | How do I apply for MAS? | All applications are though deposit money banks |
| 2 | What kind of projects are funded under MAS? | The loan is strictly for purchase of locally grown paddy by integrated maize millers |
| 3 | Can individuals and enterprises access MAS? | No. Only limited liability companies can access MAS |
| 4 | Do I need collateral to be able to access MAS loan? | Yes. MAS loans require acceptable collateral by the Deposit Money Bank (DMB) |
| 5 | Can a company borrow under MAS for a start up? | Yes. MAS loans are for start-up and existing eligible projects |
| 6 | What is the tenor of MAS loans? | 12 months |
| 7 | Can MAS be used for maize cultivation? | No |
| 8 | Can MAS be used for importation of rice? | No. |
| 9 | Is there a moratorium under MAS? | No |
| 10 | What is the loan limit for MAS? | N2 billion |
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