The Paddy Aggregation Scheme (PAS) is for Integrated Rice Millers and Large Scale Aggregators to enable them purchase home-grown rice paddy at a single digit interest rate to promote the Federal Government of Nigeria’s National Food Security Programme (NFSP).

It is to provide credit facilities to Integrated Rice Millers and Large scale rice paddy aggregators at single digit interest rate to increase local production of rice towards effecting lower prices and enhancing national food security.

Features

• Single digit interest rate (5% all-in, max)         

• Bullet loan repayment after 12 months for loans that have 12 months tenor .                             

•  No obligor limit applicable           .

• Applicant must have a functional silo.                    

• 24 months loan tenor.

For the purpose of this Scheme, the following enterprises shall be eligible to participate under the Scheme:  

• Integrated rice millers (new and existing beneficiaries under PAS)
• Qualified aggregators that are concessionaires of functional Federal Government’s silos
• Qualified aggregators with privately-owned silos

•  Funding provided at cheap cost.
•  Reasonable tenor of loan.
• Funding targeted to specific Agricultural production (Rice).