To support the Federal Government of Nigeria’s National Food Security Programme, the Paddy Aggregation Scheme (PAS) provides Integrated Rice Millers and Large Scale Aggregators with the opportunity to purchase locally cultivated rice paddy at a single digit interest rate (NFSP).
It is to promote local rice production in order to affect reduce prices and improve national food security by offering financing facilities to Integrated Rice Millers and Large Scale Rice Paddy Aggregators at a single digit interest rate.
Features
-A one-digit interest rate (5% maximum all-in)
-For loans with a 12-month term, the loan must be repaid in full after 12 months.
-There is no obligor limit in place.
-The applicant must own a working silo.
-A loan term of 24 months.
Gain or Value Proposition
-The following businesses shall be eligible to participate in this Scheme for its intended purposes:
-Rice mills that are integrated (new and existing beneficiaries under PAS)
-Concessionaires of operational silos owned by the Federal Government are qualified aggregators.
-Qualified aggregators with silos they own privately
Target Market
-Financing is offered at a low price.
-Reasonable loan term.
-Funding aimed at a particular type of agricultural production (Rice).
How to Register
By clicking this link, interested parties can register.