How to get a loan from the Bank of Agriculture (BOA)

The Bank of Agriculture (BOA) is a government sanctioned bank with the aim to provide help and finance to the Agriculture sector in Nigeria. Popularly called “the farmers bank,” the bank provide loans, guidance and banking for farmers across Nigeria. Restructured in 2000 as the Bank of Agriculture, the bank has been in existence under different names since 1972.

Currently, the bank has branches all over Nigeria. It is continually giving loans and support to Nigerians. The bank is owned majorly by the Central bank of Nigeria (CBN) and the Federal ministry of finance. All of which are government agencies.

The bank is supervised by the Ministry of Agriculture and regulated by the Central bank of Nigeria. It plays a big role in the SME sector of the Nigerian economy.


Types of loans provided by the Bank of Agriculture (BOA)

The Bank of Agriculture provides the following types of loans:

  1. Agricultural micro loans
  2. Non-agricultural micro loans
  3. SME loans
  4. Cooperative & farmers group loans
  5. On- lending loans
  6. Agri- business loans
  7. Collaboration –funded & guaranteed collaborations


Loan conditions


Agriculture micro loans

  • The micro loans scheme is a service that avails credit facilities for financing both Agriculture and Non-Agricultural initiatives and activities including traders, artisans, arable/field crops farmers, Fisheries, Horticulture, Agro-Processing, Livestock, Agric Produce Marketing, Tree Crop Production, etc
  • Micro credits are loans not exceeding N 250,000.00 for a period not exceeding two (2) years depending on the project type.
  • Under this scheme, loans can be granted to individuals and members of co-operative societies/groups.
  • Provision of two (2) acceptable guarantors & 20% lien deposit.


Grow and earn more-(GEM)

This loan is target at women across Nigeria.

  • Maximum loan limit of  N1 million per beneficiary @14% per year subject to variation.
  • All applicants must open and maintain account relationship with BOA  Office nearest to their project location for a minimum period of 12 weeks before purchase and processing of loan application
  • Loan and Grace periods on the products  depend on the project type.
  • Under this scheme, loans can be granted to individuals and members of groups.
  • It is non collateralized loan but two (2) acceptable guarantors
  • There must be 10% lien deposit in the savings account.
  • This is an opportunity for increasing woman access to finance to enhance the growth of Woman- Owned Business in Nigeria.
  • All Activities along the Agriculture value chain are covered.


SME loan application for individuals:

  • Individuals can access credit facility  up to maximum of a N 5,000,000.00 mainly for Agricultural Projects.
  • It is a collateralized loan


Collaboration on special credit:

  • Bank of Agriculture collaboration scheme is a partnership program that enables us to pool the resources of other agencies to grow the operations of our customers and our collaborative partners’ groups of interest.
  • We engage in collaborative ventures with international agencies, local agencies, Governments and NGOs.
  • Collaboration Loan/Special Credit Scheme to farmers involve an arrangement between BOA and Agencies of government/Groups/Individuals for disbursement of fund to identified groups or individuals at a determined interest rate which can be varied according to the market rate.
  • The condition for this type of collaboration is usually specified in a memorandum of understanding (MOU) in addition to the subject of the targeted group and in line with BOA lending conditions.



There are different requirements to open an account with the Bank of Agriculture and have access to loans.



These are the requirement for individuals who wants to open an account with BOA:

  • Completed and signed Account Opening  Form
  • Completed Mandate / Signed Card
  • 3 (Three) recent passport photographs
  • A recent copy of Utility bill ( PHCN, Water ,etc.), photocopy only required
  • Signed Letter to the Bank
  • Signed Letter Of Set-Off
  • A photocopy of means of identification (National I.D Card, International Passports or Driver License)
  • At least, a minimum of N3, 000.00 as Initial Deposit.


Companies, cooperate societies, clubs, groups and its like

These are the requirement for Companies, cooperate societies, clubs, groups and its like:

  • Completed and Signed Account Opening Form
  • Completed Mandate / Signed Card
  • Three (3) recent passport photographs each from the Executives
  • A recent copy of Utility bill ( PHCN, Water etc), photocopy only required, to be submitted by the each of the Executive
  • Resolution to open Account with the Bank
  • Copy of Rules or Constitution ( Original copy to be sighted)
  • Memo and Articles of Association( Original copy to be sighted)
  • Certificate of Registration / Incorporation( Original copy to be sighted)
  • At least, a minimum of N10, 000.00 as Initial Deposit.


Bank of Agriculture interest rate

The interest rates varies on different metrics. Here is a picture of the rates:

  • 14% per annum for SME Agricultural production
  • 14% per annum for SME Agro-processing
  • 20% per annum for SME Agriculture Marketing
  • 12% per annum for Micro Credit Loans agric
  • 20% per annum for Micro credit loan (Non Agric)
  • 14% per annum for YARN & GEM products


How to get a loan from the Bank of Agriculture

Follow these steps to get a loan from the Bank of Agriculture (BOA):


1. Get your document ready

The first step towards getting a loan from BOA is to ensure that you have all requirement ready. If you check above, we have listed the requirements.


2. Visit any BOA branch near you

You can then take your documents to the nearest BOA branch or approved bank near you. Unfortunately, their website have been down, so it is not possible to apply via the Bank of industry website at the moment. You can check location of Bank of Agriculture branches near you here.

3. Submit your document

Once there. Let them know why you are there. Follow instructions, submit your documents.


Bank of Agriculture (BOA) Head office address

No, 1 Yakubu Gowon Way, P.M.B 2155, Kaduna, Nigeria.


Bank of Agriculture customer (BOA) care phone number

The customer care phone number is +234 7040202222


Bank of Agriculture (BOA) customer care email

The customer care email is


Bank of Agriculture website

The website is


For other loan options, check our page: Loans


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Editorial staff

Editorial staff is a platform that connects people with ideas, opportunities and latest trends in personal finance growth online and offline. It is the most read personal finance platform in Nigeria

Articles: 171


  1. Thank you so kindly for this piece of information, it’s a perfect one I’ve been looking for. Probably the best information I’ve read on this topic. I love the way you convey the message and how you Care to keep it smart.
    Thanks a lot, I will bookmark this blog so I can read articles in the future.

  2. Good morning,how can a non civil servant or working in any government parastatal apply

  3. how long it will take before agric loan will approve and what is collateral require before loan will approve.


  5. I think this is no longer farmers bank, is turned to be bank of friends and family, I applied for a micro loan at Kano city branch and after almost 2 years of struggle to meet the requirements they refused to consider my application, no reasonable response from them and sometimes when I go to the branch to check the status of my application people there told me that I have to know someone before I can get this loan.

  6. Am very please to play along with BOA my company is Somex Interglobal Ltd,the company will like to have an account based on Agro-Procesing.

    Ceo/Somex Interglobal Ltd
    Olusegun Somoye

  7. The Managing Director,
    Bank of Agriculture
    No.1 Yakubu Gowon Way,
    P.M.B 2155.
    Kaduna 8th July 2021
    Dear Sir,
    Re: #5 Million SME LOAN.
    I am a farmer and customer of your bank,Iwo Isin Branch Kwara state.
    I applied for 5 Million Naira Loan for cassava cultivation since last year. I was reliably informed that my application has been forwarded to the headquarter for final approval.Sir,I want you to assist in the approval of the loan.
    1.Abdulrasaq Alabi Eletu
    2.SME Loan N5 Million
    3.Branch Iwo-Isin,Kwara state.
    I submitted all necessary requirements to back the loan application.
    Please assist me because I need the loan to expand the cultivation of cassava in my farm.
    Yours Faithfully.
    Alhaji Abdulrasaq Alabi Eletu

  8. BOA, is no more a reliable bank.
    The last time I collected a loan was in 2010, ever since then they’ve not been releasing loans.

  9. How can I get the loan please, I am a graduate and young farmer, who always cultivate Yam an Rice and I wish to improve more, but due to insufficient funds to do more, that’s why I need the loan from BOA. To enable me produce more and increase the GDP or economy of Nigeria, my location is Plateau State, thanks for your consideration.

  10. Every step is provided here if one is ready for a business, the page has provided all they need full. Thank you, more inks in your pen

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