UNDP and BOA Sign MoU to Boost Nigeria's Agriculture

On Thursday, the United Nations Development Programme (UNDP) and the Bank of Agriculture (BOA) signed a memorandum of understanding (MoU) in Abuja to drive Nigeria's agricultural financing. The agreement aims to transform the agricultural financing architecture in Nigeria, launching a million-hectare tree crop program.

Ms. Elsie Attafuah, the UNDP Resident Representative, emphasized the importance of agricultural reforms in delivering tangible benefits to citizens and highlighted that agriculture is crucial for economic stability and social cohesion. The MoU will facilitate the transformation of BOA's institutional capacity and enhance its ability to deliver financial frameworks capable of attracting climate finance and private capital.

Mr. Ayodeji Sotinrin, BOA's Managing Director and Chief Executive Officer, stated that the partnership will be judged by its outcomes, focusing on measurable results such as farmer access to finance and job creation. The program aims to cultivate economically viable tree crops across Nigeria, with an initial phase targeting 200,000 hectares.