Cassava-bread-fund-nigeria

How To Apply For BOI Cassava Bread Fund in Nigeria

Last Updated on October 16, 2021 by Ope Quadri

The Bank of Industry (BOI) is a Federal Government-funded industrial financing institution. The bank has a wide range of loans to support industries that contribute to the Gross Domestic Product (GDP), one of such funds is Cassava Bread Development Fund.

More details on what to do to get loans from the Bank of Industry (BOI) can be found at https://infomediang.com/things-to-do-before-applying-for-boi-loans

NOTE: Before applying for this loan, we want to inform you that this fund is exclusively meant for those who interested in cassava processing. This isn’t for cassava plantations. The government is interested in the final product from cassava.

In this guide, InfomediaNG takes you through how to apply and be one of the beneficiaries of the N3.44billion set aside for cassava processors and bakers in Nigeria.

Objectives of the Cassava Bread Development Fund

1) It’s the brainchild of the Federal Government of Nigeria as part of the transformation policy in the agribusiness sector.

2) Nigeria is the number one producer of the commodity in the world, the Cassava Bread Fund is aimed at making sure that Nigeria produces what it consumes.

3) To reduce importation of agro foods

4) To ensure that the government saves some foreign exchange

5) To create jobs for Nigerians

Target Market

  • Cassava Processors
  • Cassava Bakers
  • High-Quality Cassava Flour (HQCF) processors
  • Working capital for Master Bakers

Tenor: 3 years

Moratorium: 6 months

Collateral: Debenture on items of equipment and stock, Irrevocable Personal Guarantee of the Chief Promoter

Method of Repayment: Payment shall be made from the company’s operation.

Fund limit: N3.44 Billion

How to apply for cassava bread loan:

  • Set up an account on the official website of Bank of Industry
  • Check inbox to activate your account
  • Fill in your details
  • Proceed to submit your application for the cassava bread fund at https://apply.boi.ng
  • Hit submit

That’s all, wait for feedback from the BOI.

 

 

5 thoughts on “How To Apply For BOI Cassava Bread Fund in Nigeria”

  1. Mairogo Paabu

    Am interested assist me please I have over 7hectres of cassava already planted,I need your guidance to help me be part of growing Nigeria economy

    1. Hello Paabu, the fund is for processors and bakers, not for growers. However, you can partner with any of them or apply for another loan suitable for your business.

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