BOA, AFAN partner to finance 400,000 farmers for dry season farming

Bank of Agriculture (BOA) has partnered with the All-Farmers Association of Nigeria (AFAN) to expand access to financing for about 400,000 farmers preparing for the 2026 dry season farming cycle.

The initiative, being implemented under BOA’s Renewed Hope Smallholder Support and Value Chain Fund (RH-SSVCF), is aimed at supporting year-round agricultural production and improving the availability of locally produced food across the country.

Under the partnership, the bank will provide financing not only for agricultural inputs but also irrigation toolkits and other associated equipment to enable farmers sustain production during the dry season.

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The initiative is expected to help reduce farmers’ dependence on rainfall while allowing them to cultivate beyond the main rainy season, thereby improving farm incomes and strengthening food supply chains.

The partnership comes amid longstanding challenges around access to agricultural finance and irrigation infrastructure, which have limited the ability of many Nigerian farmers to sustain production throughout the year.

Under the arrangement, AFAN will identify and present credible farmers within its national network to the BOA, providing details including their locations, commodities, farm sizes and proposed dry-season acreage.

The association will also assist in identifying suitable Farmer Aggregation Companies (FACs) with verifiable farmer networks and the capacity to coordinate participating farmers.

Through the Farmer Allocation Model, approved financing will be channelled to eligible farmers through selected FACs, which will serve as obligors and coordinate the allocation and deployment of approved inputs and other production requirements.

The model is designed to link farmers with financing, production inputs and irrigation equipment while ensuring that funds are deployed through credible structures with identifiable farmer networks and clear production plans.

Speaking on the initiative, Managing Director of the BOA, Ayo Sotinrin, said the bank was focused on ensuring that farmers who are ready to produce beyond the rainy season have access to the resources required to sustain their operations.

“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,” Sotinrin said.

He added that supporting agricultural production throughout the year would help improve farmers’ livelihoods while contributing to a more reliable food supply for Nigerians.

According to him, the partnership with AFAN would strengthen the bank’s capacity to reach credible farmers at scale and develop a stronger pipeline for agricultural financing.

Following the submission of information on farmers and FACs, BOA will conduct verification, due diligence and credit assessments in accordance with its applicable policies and requirements.

Participation in the programme will be subject to satisfactory assessment and approval by the bank.

The bank said the partnership with AFAN forms part of its broader efforts to expand agricultural financing, support year-round production and strengthen the productive capacity of Nigerian farmers.

By addressing some of the financing and irrigation constraints associated with dry-season agriculture, the initiative is expected to support increased food production and contribute to a more resilient food system in Nigeria.