Agri-Business Small Medium Enterprises Investment Scheme

The Bankers' Committee on 9 February 2017 approved the AGSMEIS, to support Federal Government's efforts at promoting agricultural businesses and small and medium enterprises as a vehicle for sustainable economic development and employment generation. The Scheme requires all banks to set aside 5% of their Profit after Tax (PaT) annually for its funding.

Objectives

  • Ensure access to finance for Small and Medium Enterprises (SMEs)
  • Generate much needed employment opportunities in Nigeria
  • Develop agricultural value chain and ensure sustainable agricultural practices
  • Boost the managerial capacity of Agri-Business/ SMEs.

Managing Agent

The Scheme has a Board of Directors (BoD) which is constituted by the Bankers' Committee. The Board is comprised of eight members:
  • Five from the Bankers' Committee (Top contributing banks to the Scheme)
  • Two representatives of the CBN
  • The BoD shall select a Chairman for the Board
  • The Managing Director/CEO of the Special Purpose Vehicle (SPV) shall be appointed by the BoD

How to Apply

  • Interested applicants can visit the AGSMEIS portal: Click here to visit AGSEMEIS portal
  • Create an account and start the application process
  • Applicants are required to undergo a mandatory training programme with an accredited Entrepreneurial Development Institute (EDI) and also submit a Business plan before proceeding to the loan application stage
  • On completion of training, applicants submit loan applications through EDIs to NMFB

Frequently Asked Questions on AGSMEIS

    Why was AGSMEIS introduced?
  • For the promotion of agricultural businesses and small/medium enterprises (SMEs)
    • What is the maximum amount for term loan which can be currently applied for under the AGSMEIS?
  • N3Million. This limit is subject to periodic management review
    • What is the maximum amount for Equity Investment which can be currently applied for under the AGSMEIS?
  • N2 Billion. This limit is subject to periodic management review
    • Which financial institution is the managing agent for AGSMEIS?
  • NIRSAL Microfinance Bank.
    • How Do I Access the Loan?
  • Get trained by first selecting a CBN-Certified Entrepreneurship Development Institute (EDI) to guide you through the loan application process and ensure that all your documents are complete.
    • Do I Need Collateral?
  • No, this loan scheme does not require a collateral
    • How can I apply for AGSMEIS?
  • To apply for AGSMEIS, please visit our portal

Loan Eligibility

  • Registered business name (Enterprise or Limited Liability)