BOA, AFAN to finance 400,000 dry-season farmers - Punch Newspapers
The Bank of Agriculture has partnered with the All-Farmers Association of Nigeria to provide financing for 400,000 farmers ahead of the 2026 dry-season farming cycle. The initiative, being implemented under the BOA’s Renewed Hope Smallholder Support and Value Chain Fund, is aimed at supporting year-round food production and improving farmers’ access to agricultural inputs and irrigation equipment. The bank disclosed this in a statement on Friday, titled, “Bank of Agriculture, AFAN Partner to Expand Access to Dry Season Financing for 400,000 Farmers.” Under the partnership, AFAN will identify and present farmers within its national network, providing details including their locations, commodities, farm sizes and proposed dry-season acreage. The association will also identify suitable Farmer Aggregation Companies with verifiable farmer networks and the capacity to coordinate participating farmers.See more Punch stories on Google.Add Punch on Google According to the statement, approved financing will be provided to eligible farmers through the suitable FACs, which will serve as obligors and coordinate the allocation of approved inputs and other production requirements. The programme will also provide irrigation toolkits and other irrigation equipment to help farmers reduce their dependence on rainfall and sustain production during the dry season. The Managing Director of BOA, Ayo Sotinrin, said the initiative would help farmers continue production beyond the main farming season. First Trustees advocates stronger governance for farm financing Why food prices remain high despite increased production – Minister FirstBank, policymakers push for strategic agro-capital deployment “Dry season farming allows us to keep production going beyond the main farming season. “Our responsibility is to ensure that farmers who are ready and able to produce have access to the financing, inputs and irrigation equipment they need to do so. “By supporting production throughout the year, we are supporting farmers’ livelihoods while contributing to a more reliable supply of food for every Nigerian,” he said. Sotinrin added that the partnership with AFAN would strengthen the bank’s ability to reach farmers at scale and build a stronger pipeline for agricultural financing. The bank said participating farmers and aggregation companies would undergo verification, due diligence and credit assessment in line with its policies and requirements. It added that participation would be subject to satisfactory assessment and approval by the bank. The partnership is part of BOA’s efforts to expand agricultural financing and support year-round farming as farmers contend with limited irrigation infrastructure and access to credit. Princess Etuk Princess Etuk is a journalist at Punch Newspapers with over five years of experience covering national development and the economy. She focuses on public policy, infrastructure, agriculture, and related sectors, producing insightful features and exclusive reports. Princess’s work reflects a strong commitment to accountability journalism, sectoral development reporting, and informed public dialogue.
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