Are you a broiler farmer in Lagos? The Lagos State Employment Trust Fund (LSETF) has a special program to help you get affordable funding. Here is everything you need to know and how to apply, explained in simple steps.

What is the offer?

You can get a loan of up to ₦5 million.

The interest rate is only 9% per year (which is broken down to 1.5% per production cycle).

Who is involved?

You and Your Cooperative: The group of farmers.

Cubeseed Africa: The company that will buy your birds (the “offtaker”) and help organize the program.

LSETF: The agency that provides the money for the loan.

What does the loan cover, and what are you responsible for?

To make it clear, the loan money is strictly for production inputs. 

Here is the breakdown:

The Loan Covers (Provided by LSETF)	The Farmer is Responsible For (You Provide)	Off-taker (Cubeseed)
Feed for the birds	Pen House (the building where birds are kept)	Finished Birds Transportation
Drugs (medications and vaccines)	Lighting (electricity or bulbs for the house)	Sales of birds
Day-Old Chicks (DOC)	Labour (workers to help on the farm)	Distribution of Inputs
Logistics for DOC & feed	Heat Source (e.g., charcoal for brooding)	Coordination of cooperatives
	Beddings (e.g., wood shavings for the floor)

Step-by-Step Application Process

Step 1: Check if you qualify.

You must be a broiler farmer living in Lagos State.

Step 2: Join a registered Cooperative.

You must be a member of a registered broiler farmers’ cooperative in your area.

The cooperative must have a minimum of 20 members.

If you are not in a cooperative yet, you need to join one immediately.

Step 3: Register your Cooperative with Cubeseed.

Your cooperative president will get an official form from Cubeseed to onboard the group. This is the first step to register your cooperative for the program. Afterwards, the membership form will be generated and issued to the president of the cooperative. Every member of the cooperative must upload their document on this form to apply.

Step 4: Gather and Submit Your Personal Documents.

Every member must submit copies of the following documents:

LASSRA ID (Lagos State Resident Registration Agency)

LIRS ID (Lagos State Internal Revenue Service)

6 months bank statement (from your personal account)

National ID (NIN)

Bank Verification Number (BVN)

Important: If you are missing any of these documents, speak to your cooperative president for advice. The agency can help new cooperatives get their LASSRA and LIRS registration done with a one-time cooperative visit.

Step 5: Get Your CAC Registered (if needed).

If you do not have a Corporate Affairs Commission (CAC) registration, Ecobank (in partnership with LSETF) is offering free CAC registration. Apply for this immediately.

Step 6: Credit Check and Vetting.

Once all documents are submitted, LSETF will run a credit check on each member.

Note: Anyone with a history of defaulting on a loan will not be allowed to proceed.

Step 7: Agreement and Inspection.

If your cooperative is approved, you will have a meeting with Cubeseed (the offtaker) to agree on:

The sales price for the birds.

The supplies (feed, drugs, and DOC) you will receive.

After the agreement, an MOU is signed. LSETF will inspect your farm facility to make sure you have the pen house, lighting, and other items you are responsible for ready for rearing.

Step 8: Receive Funds and Supplies.

Once everything is approved, the loan money will be released.

The money will be used only to buy your input supplies (chicks, feed, and drugs).

A delivery date will be confirmed, and you will prepare your brooding house with your own heat source and bedding to receive the birds.

What Happens During and After Production?

Step 9: Rearing and Monitoring.

After you receive the birds, you begin the brooding and rearing process using your own labour and utilities.

Throughout the cycle, extension agents and veterinarians will visit your farm for weekly inspections.

Step 10: Harvest and Sales.

When the birds are ready for harvest, Cubeseed will come to pick them up.

Cubeseed will sell the birds and send the payment directly to LSETF.

Step 11: Payment and Profit Sharing.

From the sales money, LSETF will deduct:

The 1.5% interest for that cycle.

The full cost of the input supplies (feed, drugs, and DOC – this money is kept for your next production cycle).

The remaining profit will be sent to your cooperative’s account and shared among the members.

Step 12: Repeat the Cycle.

This process continues for each production cycle until the end of the 12-month period.

Need More Information?

If you have any questions about this program, please contact the president of your cooperative directly.

Want to join a cooperative? Send a WhatsApp message to 09135365078

Information compiled by Cubeseed Africa.

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