FMAFS and ACGSF Partner to Boost Agricultural Credit Access

The Federal Ministry of Agriculture and Food Security, led by Sen. Abubakar Kyari, is collaborating with the Agricultural Credit Guarantee Scheme Fund (ACGSF), chaired by Dr. Olusegun Oshin, to improve access to agricultural credit for Nigerian farmers. This partnership aims to support food sovereignty and economic diversification in Nigeria.

During a recent meeting in Abuja, Kyari emphasized the need for a credible national farmer registry to ensure legitimate farmers and agribusiness entrepreneurs can access credit facilities. Sen. Dr. Aliyu Abdullahi, the Minister of State for Agriculture and Food Security, also highlighted the importance of establishing a robust foundation for agricultural finance.

The ACGSF is tasked with providing guarantees for loans and grants to banks for agricultural purposes, with a focus on increasing bank credit to the agricultural sector. The scheme, established under Decree No. 20 in 1977, became operational in April 1978 and is managed by the Central Bank of Nigeria.