The President of the All Farmers Association of Nigeria, Mohammed Magaji, has raised concerns over limited access to agricultural financing, blaming commercial banks for their reluctance to support farmers despite the existence of the Agricultural Credit Guarantee Scheme Fund.
Speaking on the issue, Magaji told newsmen that the scheme does not directly disburse funds to farmers. 
He lamented that a vast majority of commercial banks are unwilling to lend to the agricultural sector. 
Magaji further noted that the stringent lending conditions imposed by banks have made it nearly impossible for smallholder farmers to access credit. 
He further explained that the collateral requirements were often excessive and time-consuming to meet. 

 

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