The Bank of Agriculture (BOA) has begun distributing fertilisers, maize seeds and crop protection products to about 500,000 smallholder farmers across Nigeria under the Federal Government’s Renewed Hope Smallholder Support and Value Chain Fund.
Demographics
The initiative is aimed at strengthening food security, increasing agricultural productivity and improving the livelihoods of rural farmers. It will cover more than 20 states and support the cultivation of approximately 520,000 hectares of farmland.
According to the Bank of Agriculture, the programme is expected to add at least 2.6 million tonnes of food to Nigeria’s food supply, helping to improve food availability while supporting the country’s agricultural value chain.
The Managing Director and Chief Executive Officer of the Bank of Agriculture, Ayo Sotinrin, announced the rollout during the official flag-off of the distribution exercise in Karau-Karau, Giwa Local Government Area of Kaduna State. He was represented by the bank’s Divisional Head of Finance and Strategy, Osho Adekunle.
Nigerian MSME support
Speaking at the event, Sotinrin described the intervention as part of a nationwide agricultural support programme designed to expand food production and empower smallholder farmers.
“The intervention forms 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,” he said.
Demographics
He also disclosed that the programme has already made significant progress, with nearly 200,000 farmers across the country already receiving financing through the initiative.
The support is expected to ease some of the financial burden faced by smallholder farmers by providing critical farming inputs, enabling them to increase production during the planting season.
For MSMEs operating across the agricultural value chain, including input suppliers, agro-processors, food manufacturers, transporters and produce marketers, the programme could create new business opportunities through increased farm output, greater demand for agricultural services and improved availability of raw materials. It may also contribute to stabilising food supply and strengthening rural economic activities if implemented effectively across participating states.