A cooperative group, in partnership with some foreign investors, has unveiled a $5 billion credit scheme to enable farmers’ associations, among other Small and Medium Enterprises, to obtain loans at single-digit interest rates and with a one-year moratorium.

The scheme, code-named ‘Assured Invest Cooperative Trust Fund’, was unveiled on Sunday in Abuja by Mais Limited in collaboration with Maistrade Multipurpose Cooperative Society and Terra Industries.

Chief Vision Officer of MAIS Limited, Mr. Benjamin Aduli, who launched the scheme during a media briefing at the weekend in Abuja, described the fund as the first demand-driven credit scheme in Africa.

He explained, “Unlike traditional financing models that are supply-driven, flooding the market with unsolicited capital, this fund responds only to verified cooperative demand.

“It is tailored to the real, structured needs of cooperative members—whether it’s a rice farmer in Lokoja, a housing cooperative in Enugu, an MSME cluster in Kaduna, or a youth cooperative in Abeokuta.”

According to him, the fund is backed by institutional capital, governed by cooperative law, and driven by clear cooperative use-cases: food production, mechanisation, housing, education, clean energy, and digital inclusion.

He disclosed that they have about 252,000 members across 32 states of the federation, and members are enjoined to have monthly savings of N5,000, saying the savings go directly into the fund.

He added that foreign investors have committed to invest $20 for every $1 invested by the cooperative, adding that the investors are allowed to bring in their funds based on terms and conditions of the society.

Aduli highlighted the terms and conditions to include a 12 percent interest rate annually (that is 1 percent monthly), a one-year moratorium, and a 10-year payback time.

He disclosed that the cooperative is contributing 6 to 12 percent of the funds, while the investors will provide the remaining counterpart funding, adding that half of the total fund will be secured through annuity insurance to guarantee that the investor recovers their capital at the end of 10 years.

He further explained that the fund is a public investment scheme— that is, a secured cooperative financing framework created by members, for members, and through members.

On the administration of the fund, Aduli assured that it would be administered transparently with the oversight of trustee banks, insurance underwriters, and cooperative federations—including their partners from Cooperative Financing Agency of Nigeria (CFAN), National Agricultural Cooperative Organisation (NACO), Cooperative Housing Federation of Nigeria (COHFON), and Akilaah National Cooperative Federation (Akilaah).

He also announced the launch of the National Drone Surveillance Programme for farmlands in Nigeria.

Speaking further on the launch of the National Drone Surveillance Programme for Nigerian farmlands, Mr. Nathan Nwachuku, Chief Executive Officer, Terra Industries, said it would “mark the beginning of a bold and necessary transformation in Nigeria’s agricultural security and national food systems.”

Nwachuku stated that the launch is not just ceremonial but a strategic intervention—one that recognises the urgent need to protect our food producers, safeguard agricultural assets, and ensure that the efforts of Nigeria’s farmers do not go to waste.

“Let us be clear: food insecurity is not just a rural problem; it is a national emergency. From climate-related threats to organized farm theft and communal disruptions, Nigerian farmers face daily risks that weaken our food chain and threaten our national stability.

“This drone program is our response—a fusion of technology, trust, and territorial protection.

“In the first phase of deployment, we are rolling out surveillance coverage across 40,000 hectares in Kogi State, protecting over 20,000 rice farmers operating under the MAIS Cooperative network.”

These drones, according to him, would deliver 24/7 aerial surveillance, persistent situational awareness, real-time threat detection and alerts, as well as data analytics to inform security decisions.

In her welcome remarks, Dr. Esther Audu, National President, Women in Agriculture Cooperative Federation Limited, said the event was “an awakening to the power of collective prosperity, of technological foresight, and of cooperative finance as a tool for development.”