BOA and UNDP Partner to Modernize Agricultural Financing

The Bank of Agriculture (BOA) has announced a strategic partnership with the United Nations Development Programme (UNDP) to modernize agricultural financing in Nigeria. The initiative, unveiled by Managing Director and Chief Executive Officer Ayodeji Sotinrin, aims to expand grassroots financial inclusion and accelerate agricultural transformation in line with the federal government's food security agenda.

The partnership will enhance the delivery of agricultural intervention programs and empower smallholder farmers across the country. BOA plans to strengthen its agricultural delivery architecture and collaborate with state-level delivery platforms, including licensed input suppliers and international development partners.

The partnership is expected to attract blended climate finance support for a million hectares of tree crop initiatives, which are presidential priorities aimed at boosting commercial agriculture, job creation, and export diversification. Furthermore, BOA is set to overhaul its verification framework to eliminate fraud and ensure that interventions reach genuine farmers.

Muhammad Magaji, President of the National Farmers Association of Nigeria, endorsed these verification measures to expedite loan disbursement to farmers.