August 18, 2023



The Scheme provides guarantee cover (up to 75% of any outstanding balance upon default) in respect of loans granted to the agricultural sector by banks and also has a farmer-friendly scheme called “Interest Drawback Program” (IDP) of up to 40% interest refund upon liquidation of the facility.


  1. Individual farmers
  2. Cooperative Societies
  3. Corporate Bodies

General Requirements

  1. Must be a farmer with verifiable investment in the enterprise of interest
  2. Ability to bear the cost of agricultural insurance cover by NAIC
  3. Must have a current account for the servicing of loan interest
  4. Should provide acceptable collateral in the form of landed property with adequate title, shares, life assurance policy, or third party guarantee supported by assets (for requests over N1million)
  5. Activities to be sponsored MUST be during the season and within the list of eligible enterprises
  6. Insurance policy by the Bank’s nominated insurance company on all assets purchased, noting Sterling Bank as first loss payee beneficiary
  7. Maximum Credit: N1m for Individual and N10m for Corporate and Cooperative Societies
  8. Maximum Tenor: 2 years (inclusive of moratorium)
  9. Pricing: Commercial rate


This product is intended to offer credit facilities to Nigerian Agro Input Dealers (Seeds Companies and Fertilizer Agro Dealers) under the Federal Ministry of Agriculture Transformation Agenda.


This product is targeted at Agro Input Dealers in Nigeria who are engaged in the distribution of Farm Inputs such as Fertilizers and Seeds. They must be registered on the Cellulant Platform and assigned codes and National Seed Council (NASC) of the Federal Ministry of Agriculture and Rural Development.

General Requirements

  1. The product is available to Seed Companies certified by Nigerian Agricultural Seed Council (NASC) and Primary Agro Dealers trained and accredited by International Fertilizer Development Centre (IFDC).Customer must open an account with the Bank
  2. Interest rate of 18% (inclusive of insurance cost) is broken down as follows; Interest Rate 16.5%. CRG Fee 1%. Insurance 0.5% 50% IDP. 75% NIRSAL Guarantee.
  3. The bank Guarantees buy-back of 30% unsold stock from the Agro Dealers and Seed Companies
  4. Equity contribution of 10%
  5. Tenor is 6 months for both Seed Companies and Fertilizer Agro Dealers
  6. Borrower must have an Insurance Policy from Nigeria Agricultural Insurance Corporation (NAIC) or other approved NAICOM agents
  7. Tripartite warehousing agreement or Equitable Mortgage as collateral
  8. Monitoring of the project by the supply chain managers appointed by the Federal Ministry of Agriculture
  9. Maximum Credit: Fertilizer-N400m Seed Companies-Open ended
  10. Maximum Tenor: 6 months for both Seed Companies and Fertilizer Agro Dealers
  11. Pricing: All in rate of 18% inclusive of Insurance

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