Why Is It Hard To Get Agric Loan From Government
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market_access_offtakersknowledge_transferfraud_scamcapital_credit_grants
page 0 · 16 posts · 4 participants
· discussion_qa
This thread is a heated debate where a farmer asks why government agricultural loans are inaccessible, while a skeptical commenter argues that the farmer's desire to emigrate ('japa') and lack of collateral disqualify him. The discussion highlights the friction between aspiring farmers seeking capital and the harsh realities of Nigerian banking, including high interest rates, corruption, and the difficulty of proving credibility without significant assets.
Pain points:
no_creditdefraudedtransport_cost
Credibility signals:
naming farm size and land ownershipciting years of experiencementioning existing processing facilitiesreferencing specific government programs and historical failures
“I have been farming for about 15 years now , geting a loan to increase the farm size is a problem.”
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“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.”
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“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.”
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“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.”
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