Bank of Agriculture Dispatches Farm Inputs to Half a Million Farmers

The Bank of Agriculture (BOA) has initiated a nationwide programme to supply essential agricultural inputs, including fertilisers, maize seeds, and crop protection products, to approximately 500,000 smallholder farmers. This intervention, operating under the Federal Government’s Renewed Hope Smallholder Support and Value Chain Fund, aims to bolster food security and uplift rural communities across Nigeria.

The programme is set to cover over 20 states, facilitating the cultivation of around 520,000 hectares of land and potentially yielding an additional 2.6 million tonnes of food for the nation.

Mr. Ayo Sotinrin, the Managing Director and Chief Executive Officer of the Bank of Agriculture, officially announced the launch of this significant agricultural support scheme during a flag-off event held in Karau-Karau, Giwa Local Government Area of Kaduna State. Mr. Sotinrin was represented at the occasion by Osho Adekunle, the bank’s Divisional Head of Finance and Strategy. Details of the event were confirmed in a statement released on Sunday by Adam Mohammed, Head of Operations Lead in the MD/CEO’s office.

Sotinrin highlighted that this intervention is integral to a broader national agricultural programme focused on enhancing Nigeria's food production capabilities. He was quoted saying, “The intervention formed part of a nationwide programme targeting nearly 500,000 farmers, who will cultivate about 520,000 hectares of farmland, with an expected output of at least 2.6 million tonnes of additional food for Nigeria’s food basket.”

The BOA chief further revealed that the initiative had already made substantial strides, with nearly 200,000 farmers nationwide having received financing. He added, “The programme has already recorded significant progress, with close to 200,000 farmers financed, while 1.8 million bags of fertiliser and 329,000 bags of quality, high-yielding seeds were being distributed through 20 Farmer Aggregation Companies in more than 20 states.”

Mr. Sotinrin also pointed out that women comprise over a third of the beneficiaries, underscoring the Federal Government's dedication to fostering inclusive agricultural growth under President Bola Tinubu's Renewed Hope Agenda. According to him, “This initiative is a concrete expression of the Renewed Hope Agenda of Mr President, a policy that moves beyond promises to deliver structure, funding and institutional support for agriculture. It tells every Nigerian farmer that they are not alone, as the government and its institutions stand with them from the soil to the market.”

He further affirmed the Bank of Agriculture's steadfast commitment to functioning as the primary channel for channeling the Federal Government's agricultural support directly to farmers across the country. While addressing the recipients of the aid, Sotinrin implored them to fully leverage this opportunity by utilizing the farm inputs judiciously, adhering to best agronomic practices, meticulously keeping farm records, and promptly reporting any issues that might arise during the planting season.

Representing the beneficiaries, Solomon Mathew extended gratitude to President Bola Tinubu's administration for the intervention. He praised the initiative as timely, noting its potential to alleviate the financial strain associated with purchasing expensive farm inputs. Mathew conveyed confidence that this assistance would empower smallholder farmers to cultivate more extensive areas of their land, thereby enhancing their productivity in the current farming season.