SEIFAC Registration 2024 Form and How to Apply

SEIFAC Registration 2024 Form and How to Apply

SEIFAC Registration 2024 – SEIFAC is an acronym for Smallholder Economic Interest Farmers Agricultural Cooperative. The SEIFAC anchor borrowers program was originally announced in 2015 with the launch of the Central Bank of Nigeria Anchor Borrowers’ Programme and thousands of farmers have so far registered for the program since its launch.

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What is SEIFAC?

Launched in 2015 by former President Muhammadu Buhari, the Smallholder Economic Interest Farmers Agricultural Cooperative( SEIFAC) is intended to create a linkage between anchor companies involved in the processing and Small smallholder farmers (SHFs) of the required key agricultural commodities. The objective of the ABP is the provision of farm inputs in both kind and cash (for farm labor) to smallholder farmers to boost their production, stabilize inputs supply to Agro-processors, and address the country’s negative balance of payments on food. At harvest, the SHF supplies his/her produce to the Agro-processor (Anchor) who pays the cash equivalent to the farmer’s account.

Why SEIFAC?

The core objective of SEIFAC is to organize the Nigerian Smallholder Farmers who are scattered, confused, and ravaged by hunger and poverty, organize them as a community, and provide them with the requisite funding or labour to increase their productivity and increase the availability of food in the country.

The SEIFAC initiative was based on research conducted by a group of Smallholder Farmers who analyzed the worrisome situation of Nigerian Smallholder Farmers and came up with the strategy of cluster farming called Agricultural Production Cluster (Agro-PC) having studied the concept from developed and developing countries for a good number of years believe the adoption of the same in the Nigerian context shall proffer a lasting solution to the plights of the Smallholder Farmers. They domiciled the ownership of SEIFAC in its members. It is therefore the cooperative of the Smallholder Farmers, by the Smallholder Farmers and for the Smallholder Farmers.

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Benefits of SEIFAC/CBN Anchor Borrowers Programme to Members

Some of the benefits of being a registered member of the Smallholder Economic Interest Farmers Agricultural Cooperative include but are not limited to;

• Enjoy Agricultural Mechanization
• Farm up to 5ha with zero investment
• Access Finance for your Farm Enterprise
• Payback at Single Digit Interest (SDI) Rate
• Enjoy Group Dynamism from Cluster Farming
• Timely Disbursement and Inputs Distribution
• Enjoy Insurance Coverage for each Cropping Season
• Enjoy savings for the rainy day(s)
• Earn Gratuity and Pension as a Farmer
• Get Quick Mobility and Car Loans at SDI Rate
• Get quick loans for Shelter & Housing Projects
• Free Advisory and Extension Services Support
• HMO for all SEIFAC Farmers Medical Treatment
• Forward & Backward Enterprise Market Linkage
• Free Membership Registration

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Steps to Benefit From SEIFAC | SEIFAC Registration 2024

You can follow these simple steps if you want to benefit fromSEIFAC Programs

• Register online to become a member(offline application is available for those in rural areas. Ask in your LGA to know if it’s available)
• Open your SEIFAC Project account and enter your BVN if you already have one(this is a bank account with which you receive money for your farm)
• Submit your account online via the SEIFAC portal for verification
• Visit the SEIFAC website 120 days before the start of the next farming season to apply and select one(1) crop you wish to grow in the coming farming season.
• Get assigned to a cluster(group) in preparation for land distribution
• Get land assigned to you to grow your selected crop
• Get Funds disbursed to you to carry out your farming activities for the season and repay your loan amount after harvest and sales.

Who Is Eligible to Participate In SEIFAC | SEIFAC Registration

This program is open to all Nigerians who are between 18 to 60 years of age. Follow the outlined steps below to create your profile and complete the registration process to become a Member of SEIFAC to qualify for the SEIFAC/CBN Anchor Borrower Programme and other programs and services of SEIFAC.

How to Complete SEIFAC Registration 2024

To register for this program, the following steps are required:

1. Log on to the SEIFAC portal at https://www.seifac.org/
2. Create your SEIFAC profile
3. Register yourself as a farmer
4. Obtain your SIEFAC registration number
5. Apply for the cropping season of your choice

After registration, you are to log in to your profile to apply for your SEIFAC loan for this year’s 2024, farming season.

List of Crops Available Under the Programme

• Rice
• Yam
• Maize
• Sesame
• Cassava
• Soybean
• Sorghum
• Groundnut
• Bambaranut

Registration for this programme is continuous however, uploading of accounts for each farming season loan has a fixed deadline which is always stated on the registration portal mentioned above. More information here.