A new $5 billion credit scheme, called the Assured Invest Cooperative Trust Fund, has been launched in Abuja to empower farmers’ groups and SMEs with affordable loans, reports the Guardian.
Spearheaded by MAIS Limited, Maistrade Multipurpose Cooperative Society, and Terra Industries, the scheme offers single-digit interest rates, a one-year moratorium, and a ten-year repayment term.
The demand-driven model is backed by foreign investors contributing $20 for every $1 raised by cooperatives, with over 252,000 members participating across 32 states. Half of the fund is protected by annuity insurance.
In parallel, a National Drone Surveillance Programme was unveiled to monitor 40,000 hectares of farmland, initially in Kogi State, enhancing agricultural security and supporting over 20,000 rice farmers.
