BOA, AFAN roll out dry-season funding for 400,000 farmers

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 season.

The initiative is being implemented under the BOA’s Renewed Hope Smallholder Support and Value Chain Fund to boost year-round food production and improve farmers’ access to agricultural inputs and irrigation equipment.

The bank disclosed this in a statement issued 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 eligible farmers through its nationwide network and submit details including their locations, crops, 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.

The BOA said approved financing would be channelled to eligible farmers through the selected FACs, which would serve as obligors and coordinate the distribution of approved inputs and other production requirements.

The programme will also provide irrigation toolkits and other equipment to enable farmers to sustain production during the dry season and reduce their dependence on rainfall.

The Managing Director of BOA, Ayo Sotinrin, said the initiative would enable farmers to continue production beyond the main farming season.

“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 said the partnership with AFAN would also strengthen the bank’s ability to reach farmers on a larger scale and develop a stronger pipeline for agricultural financing.

The bank said participating farmers and aggregation companies would undergo verification, due diligence and credit assessment in accordance with its policies and requirements.

It added that participation in the programme would be subject to satisfactory assessment and approval.

The partnership is part of the BOA’s efforts to expand access to agricultural finance and promote year-round farming amid challenges including limited irrigation infrastructure and inadequate access to credit.