Many studies over the years have examined the impact of the Anchor Borrowersˈ Programme on smallholder farmers. However, there seems to be a research gap on the impact of the scheme on the food security status of the target beneficiaries. Hence, the study was conducted to examine the impact of the Anchor Borrowers’ Programme on the food security of smallholder maize farming households in Kwara State, Nigeria. The data used for the study was gathered from 120 smallholder maize farming households selected via a two-stage sampling procedure. The study adopted descriptive statistics to examine their socioeconomic characteristics, Propensity Score Matching (PSM) and Average Treatment effect on Treated (ATT) to estimate the homogeneous effect of the scheme on the food security of the households, and to estimate the scheme’s heterogeneous impact on household food security, a multiple regression model was used. The research findings revealed that although the scheme improved the food security of the households benefitting from it, the effect varies with the heterogeneity in household characteristics. The outcome of this research informs the development of policy frameworks for improving the delivery system of the scheme and the food security of farming households in the study area.