The Central Bank of Nigeria (CBN), in support of government’s policy to promote agricultural businesses, micro, small and medium enterprises (MSMEs) for economic development and employment generation, introduced the Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS).

The objectives of the scheme, which gives collateral free loans of up to N10,000,000 to small businesses, are as follows:

To improve access to affordable and sustainable finance by Agri-businesses, Micro, Small and Medium Enterprises (MSMEs).
Create employment opportunities.
Boost managerial capacity in agri-businesses and MSMEs, and grow them in line with the Federal Government agenda to develop the real sector and promote inclusive growth.
Development Bank 699 x 90

The sectors currently covered by the scheme include:
Businesses in the entire agriculture value chain, including production, inputs supply, storage, processing, logistics and marketing.
MSMEs in the real sector, including manufacturing, mining and petrochemicals.
MSMEs in the service sector, including information and communication technology (ICT) and the creative industry.

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