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Free Content Finance for Small and Medium Enterprises: Nigeria's Agricultural Credit Guarantee Scheme Fund

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Abstract:

A major challenge facing many developing countries, especially in Africa, is devising appropriate development strategies that will capture the financial services requirements of farmers and small and medium entrepreneurs who constitute about 70 percent of the population. The Federal Government of Nigeria considers this segment critical for its development efforts to be fully realised. The Government has instituted various policies to achieve its aims, including a commercial bill financing scheme; regional commodity boards (later called national commodity boards); an export financing and rediscount facility (1987); the Nigerian Agricultural Cooperative and Rural Development Bank Ltd; community banks, People's Bank; the Agricultural Credit Guarantee Scheme Fund (ACGSF); and the Small and Medium Enterprises Equity Investment Scheme among others. These policies have contributed to improving the livelihoods of farmers and entrepreneurs.

Keywords: BANK; FARMER; FINANCE; GUARANTEE; SMALL & MICRO ENTERPRISES

Document Type: Research Article

Publication date: January 1, 2006

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