FG and BOA Partner to Boost Economic Opportunities

The Federal Ministry of Humanitarian Affairs and Poverty Reduction has established a strategic partnership with the Bank of Agriculture (BOA) to enhance economic opportunities for vulnerable citizens in Nigeria. This collaboration, formalized through a Memorandum of Understanding (MoU), aims to transition from humanitarian assistance to sustainable economic participation.

Dr. Bernard M. Doro, the Minister of Humanitarian Affairs and Poverty Reduction, emphasized the importance of leveraging social protection data and agricultural financing to bolster the resilience of vulnerable households.

The national social register, which includes data on approximately 20 million vulnerable households, is a key asset in this initiative. Doro noted that over 10 million individuals in the register have been validated using their National Identification Numbers (NIN).

The partnership will provide agricultural inputs, financing, and other interventions to increase productivity. BOA will also develop profiles for participating farmers to improve their access to finance through appropriate credit scoring mechanisms.