The Bank of Agriculture has unveiled a strategic roadmap aimed at modernising its operations, expanding grassroots financial inclusion, and accelerating agricultural transformation in line with the Federal Government’s food security agenda. The Managing Director and Chief Executive Officer of the bank, Ayodeji Sotinrin, said in a statement issued on Friday that the institution was implementing operational upgrades and forging strategic partnerships to improve the delivery of agricultural intervention programmes and empower smallholder farmers across the country.
According to the statement, the BOA said it was strengthening its agricultural delivery architecture by expanding collaborations with state-level delivery platforms, licensed input suppliers, and international development partners. The bank said a key component of the strategy was its recently signed Memorandum of Understanding with the United Nations Development Programme, which aligns its revitalisation agenda with the UNDP’s Integrated Smart States Programme.
It noted that the partnership would help transform Nigeria’s agricultural sector into an investment-ready system capable of attracting blended and climate finance while supporting the One Million Hectare Tree Crop Initiative, described as a presidential priority expected to boost commercial agriculture, job creation, and export diversification.
Sotinrin said, “Our vision for the Bank of Agriculture is to deploy capital in an intelligent, smart, and highly efficient way to reposition the institution as a catalyst for food security and rural prosperity. We are bringing everyone into the financial net, especially the youthful population of farmers in our hinterlands, to create a new, resilient food system for Nigeria.” The bank also disclosed that it had overhauled its verification framework to eliminate fraudulent beneficiaries and ensure interventions reached genuine farmers.
Related News BOA unveils roadmap to expand rural finance, boost food security 30,000 Lagos primary pupils to benefit from school feeding initiative ‘Financial inclusion requires grassroots trust’ According to the statement, the new credit profiling process incorporates Bank Verification Number checks, Know Your Customer protocols, and GPS farm mapping to strengthen transparency and accountability in loan disbursement.
Commenting on the initiative, the National President of the All Farmers Association of Nigeria, Muhammad Magaji, endorsed the verification measures while urging quicker loan disbursement. He said, “The All Farmers Association of Nigeria recognises the critical role the Bank of Agriculture plays in shielding our farmers from exorbitant commercial interest rates.
While we continuously advocate for faster disbursement cycles to match planting seasons, we stand with the BOA on the need for strict verification. “It is the only way to ensure that these interventions reach the genuine smallholder farmers who actually till the soil, rather than ‘political farmers.’ We remain committed to working closely with the BOA management to fine-tune this delivery framework.” The BOA further said it was modernising its nationwide operations by deploying digital farmer systems, agency banking models, and solar-powered infrastructure across its 110 branches to improve service delivery in rural communities.
The Managing Director and Chief Executive Officer of the bank, Ayodeji Sotinrin, said in a statement issued on Friday that the institution was implementing operational upgrades and forging strategic partnerships to improve the delivery of agricultural intervention programmes and empower smallholder farmers across the country.
The bank said a key component of the strategy was its recently signed Memorandum of Understanding with the United Nations Development Programme, which aligns its revitalisation agenda with the UNDP’s Integrated Smart States Programme. It noted that the partnership would help transform Nigeria’s agricultural sector into an investment-ready system capable of attracting blended and climate finance while supporting the One Million Hectare Tree Crop Initiative, described as a presidential priority expected to boost commercial agriculture, job creation, and export diversification.
The bank also disclosed that it had overhauled its verification framework to eliminate fraudulent beneficiaries and ensure interventions reached genuine farmers. Related News BOA unveils roadmap to expand rural finance, boost food security 30,000 Lagos primary pupils to benefit from school feeding initiative ‘Financial inclusion requires grassroots trust’ According to the statement, the new credit profiling process incorporates Bank Verification Number checks, Know Your Customer protocols, and GPS farm mapping to strengthen transparency and accountability in loan disbursement.