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The Bank of Agriculture has partnered with the All-Farmers Association of Nigeria to provide financing for 400,000 farmers ahead of the 2026 dry-season cycle under the Renewed Hope Smallholder Support and Value Chain Fund.
The Bank of Agriculture has partnered with the All-Farmers Association of Nigeria to provide financing for 400,000 farmers ahead of the 2026 dry-season farming cycle.
BOA and AFAN Dry-Season Financing Initiative
The initiative is being implemented under the BOA Renewed Hope Smallholder Support and Value Chain Fund. It aims to support year-round food production and improve farmers access to agricultural inputs and irrigation equipment. The bank disclosed this in a statement issued on Friday. The statement was titled Bank of Agriculture, AFAN Partner to Expand Access to Dry Season Financing for 400,000 Farmers.
Under the partnership, AFAN will identify and present farmers within its national network. The association will provide details including their locations, commodities, farm sizes and proposed dry-season acreage. AFAN will also identify suitable Farmer Aggregation Companies with verifiable farmer networks and the capacity to coordinate participating farmers. Approved financing will be provided to eligible farmers through the suitable FACs.
The FACs will serve as obligors and coordinate the allocation of approved inputs and other production requirements. The programme will also provide irrigation toolkits and other irrigation equipment. This support is expected to enable farmers reduce their dependence on rainfall and sustain production during the dry season. It is also expected to help them maintain output beyond the main rainy season.
Supporting Production Beyond the Rainy Season
BOA Managing Director Ayo Sotinrin said the initiative would help farmers continue production beyond the main farming season. He said the bank was committed to ensuring farmers had access to the financing and productive assets needed to sustain production. Dry season farming allows us to keep production going beyond the main farming season, he said.
Our responsibility is to ensure that farmers who are ready and able to produce have access to the financing, inputs and irrigation equipment they need to do so. Sotinrin added that by supporting production throughout the year, the bank is supporting farmers livelihoods while contributing to a more reliable supply of food for every Nigerian. He said the partnership with AFAN would strengthen the banks ability to reach farmers at scale.
It would also help build a stronger pipeline for agricultural financing. The bank said participating farmers and aggregation companies would undergo verification, due diligence and credit assessment. This will be done in line with its policies and requirements. It added that participation would be subject to satisfactory assessment and approval by the bank.
Expanding Agricultural Production and Food Security
The bank said expanding agricultural production beyond the main rainy season could increase food availability. It said the move could also improve farmers incomes and strengthen the resilience of food supply chains. The partnership is part of BOA efforts to expand agricultural financing and support year-round farming. Farmers are contending with limited irrigation infrastructure and access to credit.
Addressing financing and irrigation constraints associated with dry-season farming would help increase food production. BOA said this would contribute to a more resilient Nigerian food system. The bank has also unveiled a N200b price guarantee scheme for food price stabilisation. It has also deepened support for women farmers as part of moves to close the input access gap.
The bank said its partnership with AFAN formed part of its broader efforts. These efforts include expanding access to agricultural finance, promoting year-round production and strengthening the productive capacity of Nigerian farmers. The programme is expected to boost year-round food production and improve farmers livelihoods. It is also expected to strengthen the supply of locally produced food to Nigerian households.
Building a Pipeline of Credible Farmers
Through the fund, the bank is developing a pipeline of farmers actively engaged in production. These farmers require financing to sustain or expand their operations during the dry season. Sotinrin said the partnership would strengthen BOA capacity to reach credible farmers at scale.
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MobilePunch:This story was compiled and edited by the HeadTopics newsroom and HT AI from the reports above.
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