Bank of Agriculture Strengthens Support for Women Farmers to Close Input Access Gap in Nigeria

The Bank of Agriculture (BOA) in Nigeria has officially announced an expansion of its support for women farmers, aiming to improve their access to agricultural finance and inputs. This initiative is designed to boost production, strengthen livelihoods, and enhance the participation of women in the agricultural value chain. In a recent statement, the bank noted that women constitute up to 70% of Nigeria's agricultural workforce, yet their potential remains largely untapped due to structural barriers, including limited access to credit, technology, mechanization, and organized markets.

Citing evidence from the World Bank, the BOA emphasized that closing the gender gap in access to productive resources could significantly increase crop yields and overall agricultural output nationwide. The disparity in financial inclusion is stark, as only 3% of female farmers in Nigeria are formally enrolled in financial systems, compared to 10% of their male counterparts. The bank views this gap as both a significant challenge and an opportunity to broaden its reach and impact within the agricultural sector.

Ayodeji Sotinrin, the Managing Director and Chief Executive Officer of BOA, stressed that agricultural financing must go beyond simple credit disbursement. He argued that the bank's responsibility is to understand the specific needs of farmers to keep them productive. An effective support system must encompass the entire production cycle, ensuring that farmers have the tools, machinery, and market access necessary to transform financing into tangible output. The bank is currently working to build an ecosystem that integrates these essential services.

This approach is already being applied in the Bwari Area Council of the Federal Capital Territory, where the bank recently provided direct agricultural input support to a group of women farmers. This engagement served to help the bank gain a deeper understanding of the realities on the ground, allowing for more tailored interventions. One of the primary vehicles for this strategy is the 'Renewed Hope Smallholder Support & Value Chain Fund,' which works in collaboration with farmer aggregators to bring over two million smallholder farmers into a structured federal on-lending framework.

To further increase accessibility, the BOA is deploying a N250bn facility to provide single-digit financing for smallholders. Furthermore, the bank's planned N1.5tn recapitalization is expected to substantially enhance its capacity to reach more farmers and deepen lending activities. Through the 'Guaranteed Minimum Price Aggregation Programme,' the bank is also connecting producers to accredited warehouses and guaranteed offtake arrangements. These efforts aim to minimize market uncertainty and ensure that women farmers can fully capitalize on their productive potential while contributing to Nigeria’s broader food security goals.