BOA Launches Roadmap to Enhance Rural Finance and Food Security

The Bank of Agriculture (BOA) has announced a strategic roadmap to modernize its operations and expand grassroots financial inclusion, aligning with the federal government's food security agenda. Managing Director and Chief Executive Officer Ayodeji Sotinrin disclosed this initiative in a statement issued on Friday.

The BOA plans to implement operational upgrades and strategic partnerships to enhance the delivery of agricultural intervention programs, empowering smallholder farmers across Nigeria. A memorandum of understanding has been signed with the United Nations Development Programme (UNDP) to align with BOA's revitalization agenda.

The bank aims to attract climate finance support for a million hectares of tree crop initiatives, which are expected to boost commercial agriculture, job creation, and export diversification. The BOA is also overhauling its verification framework to eliminate fraud and ensure that interventions reach genuine farmers.

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