₦airaland Forum

Why is it hard to get federal or state agriculture loan?
I have been farming for about 15 years now , geting a loan to increase the farm size is a problem.
Last time I think around 2020 or so I try apply for NIRSAL loan. They took my application money up till now I never here from them.is a shame that government are not supporting real farmers.
However I have been able to farm over 55 acres of casava farm, 5 acres of plantain farm and 10, acres of palm farm without loan from anyone.
We are heading for a new season to start farming. I will appreciate if government can give me loan.
I went to other private microfinance bank for loan but what they are willing to give me for a start is very poor.
Honestly I am bigger than a loan of 500k or 1m.

eddy2farm:
Why is it hard to get federal or state agriculture loan?
I have been farming for about 15 years now , geting a loan to increase the farm size is a problem.
Last time I think around 2020 or so I try apply for NIRSAL loan. They took my application money up till now I never here from them.is a shame that government are not supporting real farmers.
However I have been able to farm over 55 acres of casava farm, 5 acres of plantain farm and 10, acres of palm farm without loan from anyone.
We are heading for a new season to start farming. I will appreciate if government can give me loan.
I went to other private microfinance bank for loan but what they are willing to give me for a start is very poor.
Honestly I am bigger than a loan of 500k or 1m.

Bros Avoid Nigerian loan of every category. Use Blue Ocean Strategy to raise your needed fund

eddy2farm:
Why is it hard to get federal or state agriculture loan?
I have been farming for about 15 years now , geting a loan to increase the farm size is a problem.
Last time I think around 2020 or so I try apply for NIRSAL loan. They took my application money up till now I never here from them.is a shame that government are not supporting real farmers.
However I have been able to farm over 55 acres of casava farm, 5 acres of plantain farm and 10, acres of palm farm without loan from anyone.
We are heading for a new season to start farming. I will appreciate if government can give me loan.
I went to other private microfinance bank for loan but what they are willing to give me for a start is very poor.
Honestly I am bigger than a loan of 500k or 1m.

You have tried on your own. 55 acres of Cassava and 5 acres of plantain. You be Oga o. I don't even have an acre of anything yet. Just starting out on my one plot of land. I pray to go into serious farming next year. Cheers.

Ynix:
Bros Avoid Nigerian loan of every category. Use Blue Ocean Strategy to raise your needed fund

This blue ocean strategy . What is it about? Can you explain, please?

Redman44:
This blue ocean strategy . What is it about? Can you explain, please?

https://www.youtube.com/watch?v=sYdaa02CS5E?si=K1uE4oD7MTla994y

What is blue ocean strategy?

Ynix:
Bros Avoid Nigerian loan of every category. Use Blue Ocean Strategy to raise your needed fund

Honestly I really want to increase my capacity to around 170 to 200 acres but I don't have the money l.



Okay I will take your advice

Tanks so much.

eddy2farm:
Honestly I really want to increase my capacity to around 170 to 200 acres but I don't have the money l.



Okay I will take your advice

Tanks so much.

First don't put yourself under unnecessary pressure, second create a plan and see if it worth it, think on paper about the 170 to 200 acres.
3. Think of ways of generating the money and research about the best options and the worst options.

Ynix:
First don't put yourself under unnecessary pressure, second create a plan and see if it worth it, think on paper about the 170 to 200 acres.
3. Think of ways of generating the money and research about the best options and the worst options.

Thank for the advice.
I have actually put all this on paper.

I really want go big this time around. The bigger the better for profit which can enable me leave as normal human being in this hard time.
I want to fulfill my wish because I am getting older.
My plan is to take my family out this country.

Imagine all till now I am still looking for money and the right connection, which is a shame to me already.

eddy2farm:
Thank for the advice.
I have actually put all this on paper.

I really want go big this time around. The bigger the better for profit which can enable me leave as normal human being in this hard time.
I want to fulfill my wish because I am getting older.
My plan is to take my family out this country.

Imagine all till now I am still looking for money and the right connection, which is a shame to me already.

Study, think and plan considering alternative perspectives, all you are seeking for at your fingertip if you can just dig deeper in search of knowledge. Yoruba will say there are many routes to get to the market

eddy2farm:
Why is it hard to get federal or state agriculture loan?
I have been farming for about 15 years now , geting a loan to increase the farm size is a problem.
Last time I think around 2020 or so I try apply for NIRSAL loan. They took my application money up till now I never here from them.is a shame that government are not supporting real farmers.
However I have been able to farm over 55 acres of casava farm, 5 acres of plantain farm and 10, acres of palm farm without loan from anyone.
We are heading for a new season to start farming. I will appreciate if government can give me loan.
I went to other private microfinance bank for loan but what they are willing to give me for a start is very poor.
Honestly I am bigger than a loan of 500k or 1m.

eddy2farm:
Honestly I really want to increase my capacity to around 170 to 200 acres but I don't have the money l.


Okay I will take your advice

Tanks so much.

I believe what you are asking for is a grant and not a loan. You don't repay a grant back.

Oga, government in Nigeria operates on the basis of priorities set by political godfathers. This is what is killing us. In any case, presidents Obasanjo, Yaradua, and Jonathan attempted to provide single-digit loans to farmers but were unsuccessful. Farmers collected the money and japa. You have already demonstrated this intention in your post below:

eddy2farm:
Thank for the advice.
I have actually put all this on paper.

I really want go big this time around. The bigger the better for profit which can enable me leave as normal human being in this hard time.
I want to fulfill my wish because I am getting older.
My plan is to take my family out this country.

Imagine all till now I am still looking for money and the right connection, which is a shame to me already.

The desperation in this post raises a red flag. You feel you are getting old. You need to make it fast. You need to move your family out. Lol....To be honest, the government is correct in discontinuing loan and grant programs for new and non well established farmers. Lol.

To get a loan, you must show that you have assets to use as collateral. If you can demonstrate that you have N300 million in assets, you can obtain a loan ranging from N100 million to N200 million. This is how it works. You japa or you default in paying interest, you forfeit your assets.

How many farmers are well-established and can demonstrate beyond a reasonable doubt that they will put the money to good use?

The probability is high that you are presently working on leased land. You are thinking of expanding to 200 acres on rented land and with loan. I laugh in Swahili.

My recommendation
If you sell raw cassava, stop it. Process it to garri, store, and sell gradually. You will make more profit from 55 acres selling garri than selling 200 acres raw cassava harvest.

If you are already selling garri, find a way to brand it and retail everything. You will make 20 times more of what 200 acres raw cassava will give you.

Tinubu's new VAT applied to you. They want you to go into processing because that is where money is. And find a way to brand your products. 55 acres of land is enough to make more than enough to send your family to anywhere you want to.

Judging by all I have read here, oga...you no qualify at all for any loan or grant. If you need suggestions on how to go about my recommendations, ask for help in this forum. Search the threads for old threads. Tons of information you can use.

Like you are advised...you can apply blue ocean strategy too. Can you process your cassava into something useful that no one is thinking of doing in your area?

Goodluck!

epainos:
I believe what you are asking for is a grant and not a loan. You don't repay a grant back.

Oga, government in Nigeria operates on the basis of priorities set by political godfathers. This is what is killing us. In any case, presidents Obasanjo, Yaradua, and Jonathan attempted to provide single-digit loans to farmers but were unsuccessful. Farmers collected the money and japa. You have already demonstrated this intention in your post below:


The desperation in this post raises a red flag. You feel you are getting old. You need to make it fast. You need to move your family out. Lol....To be honest, the government is correct in discontinuing loan and grant programs for new and non well established farmers. Lol.

To get a loan, you must show that you have assets to use as collateral. If you can demonstrate that you have N300 million in assets, you can obtain a loan ranging from N100 million to N200 million. This is how it works. You japa or you default in paying interest, you forfeit your assets.

How many farmers are well-established and can demonstrate beyond a reasonable doubt that they will put the money to good use?

The probability is high that you are presently working on leased land. You are thinking of expanding to 200 acres on rented land and with loan. I laugh in Swahili.

My recommendation
If you sell raw cassava, stop it. Process it to garri, store, and sell gradually. You will make more profit from 55 acres selling garri than selling 200 acres raw cassava harvest.

If you are already selling garri, find a way to brand it and retail everything. You will make 20 times more of what 200 acres raw cassava will give you.

Tinubu's new VAT applied to you. They want you to go into processing because that is where money is. And find a way to brand your products. 55 acres of land is enough to make more than enough to send your family to anywhere you want to.

Judging by all I have read here, oga...you no qualify at all for any loan or grant. If you need suggestions on how to go about my recommendations, ask for help in this forum. Search the threads for old threads. Tons of information you can use.

Like you are advised...you can apply blue ocean strategy too. Can you process your cassava into something useful that no one is thinking of doing in your area?

Goodluck!

Getting loan from the government have nothing to do with me sending my family abroad.
It is my choice.
The government should hide their head in shame because they can not recovered loan given to farmers .
I can assure you they give out those loan base on man no man not on merits.
Before concluding ask questions
Any body can rent 200 acres of land to farm. is not a must you must own a land before farming.
Beside did you no if this land I am farming on is my own?
So if I don't have property value 300m I can't
access loan now I see the reason why thing are hard here in Nigeria.
Listen my friend I don't need free money from any body. All need is loan to increase my farming.
Advised the government to start investing in agriculture via loan to real farmers not political farmers.
It is normal for individual to present reasonable document or collateral before getting a loan.
Last time I checked the one I submitted to nisal or whatever they call themselves they never get back to me. Yet they collect my money for application.

You talk as if you no my farm . My friend I have a mini factory for gari and fufu production.
How much did you think one can make from 55 acres of casava farm ? I don't do paper farming. Reality will come in after thinking you will make millions in just 3 acres as mentioned in one of the tread here.
You forget you will feed pay bill from this same farm. But you quickly say 55 acres profits will take my family anywhere in the world.







Honestly I don't have energy to type.

Folks I want you all to understand the reason I mentioned government loan was because of low interest rate as compared to commercial bank.
Somebody is already saying the reason I need the loan is because I said I want to send my family abroad.funny him.
By God grace I have property to secure a reasonable loan to increase my farm to 200 acres from commercial bank.
I ran away because of high interest rate.
Give me sure link for low interest rate and see if I will not submit their requirements

eddy2farm:
Getting loan from the government have nothing to do with me sending my family abroad.
It is my choice.

If you feel offended with my post, I apologise. However, the truth is the truth....and it is what you are reading. If you refuse to accept reality and rethink your strategy, best of luck. You are a fully grown adult who cannot be forced to do anything. As an adult, you will bear the consequences of your actions and reactions. Of course, consequences can be positive or negative.

Having said that, I am telling you that from the past, over 90% who took loan ...japa. Around 10 years ago or more in Lagos, there is a program called "Yes Agric". Lagos State trained farmers and put them in farm villages. One is in Epe. The first set were given money after training, and they almost all took off to different countries. Lol. The next set were not giving money, but they were set up in the farm villages and given all assets they need with installment payment of expenditure. Even the loan Dr Adeshina (Minister ot Agric during Jonathan's tenure) gave out to farmers, they didn't give out money for all. They had vendors who supplied farmers all assets, and they gave farmers current expenditure instalmentally. So, think about that. I don't even recommend going for this kind if the opportunity arises again because those vendors supplied fake products. Lol. And some of them started going to loan takers to collect some percentage and they gave them the money instead of supplying them with assets. Lol. See how disgusting Nigerians are. Government had to go again...spend more money to start checking vendors. Checking corruption is an unnecessary waste. When the money already allocated finished, they stopped the program and did not put it in the budget again. That's how they killed that too. Lol. Na government kill am or na people kill am?

Oga...except you have an asset, no one will give you loan. It is not only about bad government but about bad citizens too. And since you have shown the intention to japa, if I was in charge, I would NEVER give you. Read this statement again and again. I don't hate you...but it's only a stupid person in charge of loan that will grant someone in your situation. No asset, no way to pay back if you default, and you have shown the intention to japa.

The government should hide their head in shame because they can not recovered loan given to farmers .
I can assure you they give out those loan base on man no man not on merits.

Both government and citizens should actually bury their heads in shame. Don't blame the government alone. I have highlighted your own issues too. Most Nigerians are mad set of species.

Yes, you are right...there is "man know man" loan system. Let me shock you. CBN initiated a loan via bank of industry one time and producers with equipment worth substantial amount can access loan for running their businesses. And they have for Agric too. Here is the trick. If you go to any bank for loan, they will ask around minimum of 25% per interest per year. And CBN decided to do single digit, meaning that the max is 9.9%. That's good news. Do you know what happened? CBN officials in charge of the loan started collecting 10% bribe from applicants. And they set out marketers who go about getting them anyone who can give 10% of what he is asking. So, the person pays 19.9% instead of 25% to 30% to commercial or merchant banks. Lol. Even the person is not qualified due to his nature of business, those guys have guys in CAC and they can quickly set up a business for the person and bla bla bla. Na so oil and gas boys took all the loans that aren't meant for them becos it pays them. That's why they are even stronger and the cabals are stronger daily.

Is government the CBN workers? Is government the marketers set out to do the illegal runs. Is government the bad people in CAC. See, Nigeria is a messed up nation. Everyone is almost mad here. Period.

Before concluding ask questions
Any body can rent 200 acres of land to farm. is not a must you must own a land before farming.
Beside did you no if this land I am farming on is my own?

You wan collect millions from government to farm on a rented land. Lol. Oga, you need to go to school and learn how to operate business. I laugh oooo. Na waooo. And you are bold to say this. Even you. ....can you loan someone who you know cannot or might not pay back money? You will better off give such person. It's why I said, it's a grant you meant to say. You don't pay grants back. But you must show you are the best to get grants.

There is a case study I was just teaching my team recently about how Chase Bank in the US used predictive analysis to know who is likely to default in their mortgage payment or quickly pay back so they can quickly sell such to other banks. And they were able to make over half a billion dollars in profit doing that a year after the program started. My point is that loan givers always try to find ways to eliminate those who are likely not to pay back. I want to believe our government is presently using analytical methods to do this, but no one needs to use any statistical methodology to know you are not qualify.

So if I don't have property value 300m I can't
access loan now I see the reason why thing are hard here in Nigeria.

See question. Lol. I will reply you. Yes. I will personally deny you based on that. I'm telling you. You can fight me all you can...insult me...but I'm telling you the truth.

Listen my friend I don't need free money from any body. All need is loan to increase my farming.
Advised the government to start investing in agriculture via loan to real farmers not political farmers.

My friend, if you don't require free money, you will put down something worth 2 to 5 times of the money you want to collect. Since you are sure you will pay back, you should have no problem. You don't have, you work towards it. You don't need to expand exponentially if you don't have the source. Oga, if you sit down and restrategise, and you are sure that you can do well with this venture...I am sure (100% sure), you can come up with a better option. And I challenge you cos I know you can do it if only if you are successful with 55 acres. Yes, I'm confident of what I am writing here.

It is normal for individual to present reasonable document or collateral before getting a loan.
Last time I checked the one I submitted to nisal or whatever they call themselves they never get back to me. Yet they collect my money for application.

Cos Nigeria is messed up. NISRAL or whatever they are called ooo farmers oooo, workers ooo, pastors oooo, imams oo, babalawo ooo, they are all potential huspuppies. Period. Most are Invictus Obi waiting for the opportunity to strike. Gbam!

You talk as if you no my farm . My friend I have a mini factory for gari and fufu production.
How much did you think one can make from 55 acres of casava farm ? I don't do paper farming.

Go read my initial post and you will see where I made comment if you have such equipment for producing garri. Oga, your desperation isn't allowing you to even digest my comment. Lol. Walahi! You no qualify. Since you don't do paper farming and you are sure you.arent doing well, you are not qualified. You are the judge of your case if you don't know, I am telling you know. The earlier you accept this fact and look for a better alternative, the better for you instead of chasing how to build a floating skyscrapers in the sky.

Reality will come in after thinking you will make millions in just 3 acres as mentioned in one of the tread here.
You forget you will feed pay bill from this same farm. But you quickly say 55 acres profits will take my family anywhere in the world.

Lol! Exactly my point. I don't need to visit your farm with all you have written here to know you are not qualified. Your reality is the truth and I based my comments of it, and this is it: your business isn't making enough profit. Na you imply so...not me.

Oga, loans aren't meant for those struggling. That's the rule. Loans are meant for people who are already making it big. If you don't know, get it into your skull today. This is why rich people are richer. And it's like this all over the world. If Dangote decides to do that same cassava, all banks will line up begging him to come take from them. This is the truth. Who wants to give a struggling business man loan?

Go abroad and understand the principle of credit score. This allows you to gain a better understanding of debt. The poor always have a low credit score, which prevents them from obtaining additional credit, whereas the wealthy deliberately borrow and repay in order to gain access to additional credit. Think about this. It means that the moment you show you are not doing so well, you aren't qualified. Period. You have to show that you don't desperately need the money, but you just want to take it as a leverage. If not, you no qualify..

Honestly I don't have energy to type.

I do not have the energy to type for people like you either, but for the sake of readers who are learning from your story, I can write a longer epistle and come up with different case studies to back up my story, so let's go there.

Again...I repeat....if you are willing to find a way out, you will ask for help here. So, it's your choice...you can keep nagging about the loan you are not qualified for, or you think out of the box to find a better alternative.

Goodluck!

epainos:
If you feel offended with my post, I apologise. However, the truth is the truth....and it is what you are reading. If you don't want to accept it and restrategise, goodluck to you. You are a full grown up adult who no one can force to do anything. And as an adult, you will face the consequences of your actions and reactions. Of course, consequences can be positive or negative.

Having said that, I am telling you that from the past, over 90% who took loan ...japa. Around 10 years ago or more in Lagos, there is a program called "Yes Agric". Lagos State trained farmers and put them in a farm village. One is in Epe. The first set were given money after training, and they almost all took off to different countries. Lol. The next set were not giving money, but they were set up in the farm villages and given all assets they need with installment payment of expenditure. Even the loan Dr Adeshina (Minister ot Agric during Jonathan's tenure) gave out to farmers, they don't give out money for all. They have vendors who supply farmers all assets, and they give farmers current expenditure instalmentally. So, think about that. I don't even recommend going for this because those vendors supply fake products. Lol. And some of them started going to loan takers to collect some percentage and they give them the rest instead of supplying them. Lol. See how disgusting Nigerians are. Government had to go again...spend more to start checking vendors. When the money already allocated finished, they stopped the program and did not put it in the budget again. That's how they killed that too. Lol. Na government kill am or na people kill am?

Oga...except you have an asset, no one will give you loan. It is not only about bad government but about bad citizens too. And since you have shown the intention to japa, if I was in charge, I would NEVER give you. Read this statement again and again. I don't hate you...but it's only a stupid person in charge of loan that will grant someone in your situation. No asset, no way to pay back if you default, and you have shown the intention to japa.


Both government and citizens should actually bury their heads in shame. Don't blame the government alone. I have highlighted your own issues too. Most Nigerians are mad set of species.

Yes, you are right...there is "man know man" loan system. Let me shock you. CBN initiated a loan via bank of industry one time and producers with equipment worth substantial amount can access loan for running their business. And they have for Agric too. Here is the trick. If you go to any bank for loan, they will ask around minimum of 25% per interest per year. And CBN decided to do single digit, meaning that the max is 9.9%. That's good news. Do you know what happened? CBN officials in charge of the loan started collecting 10% bribe from applicants. And they set out marketers who go about getting them anyone who can give 10% of what he is asking. So, the person pays 19.9% instead of 25% to 30% to commercial or merchant banks. Lol. Even the person is not qualified due to his nature of business, those guys have guys in CAC and they can quickly set up a business for the person and bla bla bla. Na so oil and gas boys took all the loans that aren't meant for them becos it pays them. That's why they are even stronger and the cabals are stronger daily.

Is government the CBN workers? Is government the marketers set out to do the illegal runs. Is government the bad people in CAC. See, Nigeria is a messed up nation. Everyone is almost mad here. Period.


You wan collect millions from government to farm on a rented land. Lol. Oga, you need to go to school and learn how to operate business. I laugh oooo. Na waooo. And you are bold to say this. Even you. ....can you loan someone who you know cannot or might not pay back money? You will better off give such person. It's why I said, it's a grant you meant to say. You don't pay grants back. But you must show you are the best to grants.

There is a case study I was just teaching my team recently about how Chase Bank in the US used predictive analysis to know who is likely to default in their mortgage payment or quickly pay back so they can quickly sell such to other banks. And they were able to make over half a billion dollars in profit doing that a year after the program started. My point is that loan givers always try to find ways to eliminate those who are likely not to pay back. I want to believe our government is presently using analytical methods to do this, but no one needs to use any statistical methodology to know you are not qualify.


See question. Lol. I will reply you. Yes. I will personally deny you based on that. I'm telling you. You can fight me all you can...insult me...but I'm telling you the truth.



My friend, if you don't require free money, you will put down something worth 2 to 5 times of the money you want to collect. Since you are sure you will pay back, you should have no problem. You don't have, you work towards it. You don't need to expand exponentially if you don't have the source. Oga, if you sit down and restrategise, and you are sure that you can do well with this venture...I am sure (100% sure), you can come up with a better option. And I challenge you cos I know you can do it if only if you are successful with 55 acres. Yes, I'm confident of what I am writing here.


Cos Nigeria is messed up. NISRAL or whatever they are called ooo farmers oooo, workers ooo, pastors oooo, imams oo, babalawo ooo, they are all potential huspuppies. Period. Most are Invictus Obi waiting for the opportunity to strike. Gbam!


Go read my initial post and you will see where I made comment if you have such equipment for producing garri. Oga, your desperation isn't allowing you to even digest my comment. Lol. Walahi! You no qualify. Since you don't do paper farming and you are sure you.arent doing well, you are not qualified. You are the judge of your case if you don't know, I am telling you know. The earlier you accept this fact and look for a better alternative, the better for you instead of chasing how to build a floating skyscrapers in the sky.


Lol! Exactly my point. I don't need to visit your farm with all you have written here to know you are not qualified. Your reality is the truth and I based my comments of it, and this is it: your business isn't making enough profit. Na you imply so...not me.

Oga, loans aren't meant for those struggling. That's the rule. Loans are meant for people who are already making it big. If you don't know, get it into your skull today. This is why rich people are richer. And it's like this all over the world. If Dangote decides to do that same cassava, all banks will like up begging him to come take from them. This is the truth. Who wants to give a struggling business man loan?

Go abroad and understand the principle of credit score. If you do this, you can understand debts better. The poor always have bad credit score and that prevents them from accessing more credits, while the rich deliberately borrow and pay back again and again so they have more access to more credit. Think about this. It means that the moment you show you are not doing so well, you aren't qualified. Period. You habe to show that you don't desperately need the money, but you just want to take it as a leverage. If not, you no qualify..


I have no energy to type for people like you too but for the sake of readers who are learning from your story, I can write a longer epistle and come up with different case studies to back up my story, so, let's go there.

Again...I repeat....if you are willing to find a way out, you will ask for help here. So, it's your choice...you can keep nagging about the loan you are not qualified for, or you think out of the box to find a better alternative.

Goodluck!

Thank you for your concern.
One more thing

Give me link on agriculture loan with a low interest rate and see if I will not provide all the documents required of me to secure the loan I need.

Government should be shame for not getting their loan back from loan applicants.
Commercial bank do everything to get there loan back.
Traveling abroad is not enough reason to denied me loan not when I meet up to the required documents to secure such loan

I can't hide my plan because I want loan .
I am happy with my progress and profit sofar from my farm. I only want more which is not bad

Honestly appreciate your input
I believe we both misunderstood ourselves from the post.
Thank you so much

eddy2farm:
Thank you for your concern.
One more thing

Give me link on agriculture loan with a low interest rate and see if I will not provide all the documents required of me to secure the loan I need.

Government should be shame for not getting their loan back from loan applicants.
Commercial bank do everything to get there loan back.
Traveling abroad is not enough reason to denied me loan not when I meet up to the required documents to secure such loan

I can't hide my plan because I want loan .
I am happy with my progress and profit sofar from my farm. I only want more which is not bad

Honestly appreciate your input
I believe we both misunderstood ourselves from the post.
Thank you so much

I repeat, your desperation is not allowing you to reason well. I said I could NEVER give you a loan because you have shown the intention to japa, and here you are asking me. Don't you read well to assimilate deeply?

After everything written, and seeing the odds against you...yet asking for a single digit agricultural interest loan in Nigeria.

My prayer is that you don't delay your progress looking for what you can't get. You think many of us don't require loan to leverage? Keep on with the ultimate search.

A man who is told a half word but meditates on it to become a whole inside him will go far in life..