Nigerian commercial banks are shunning the N50 billion Agricultural Credit Guarantee Scheme, raising fresh concerns about farm financing and food security as the planting season advances
Written by S David Prince
About 90 per cent of Nigeria’s commercial banks refuse to lend to agriculture despite a government guarantee scheme covering 75 per cent of loan defaults, the All Farmers Association of Nigeria has warned, as the CBN acknowledges agriculture receives less than five per cent of total bank lending.
