Bank of Agriculture and Afreximbank Forge $1 Billion Pact to Empower Nigeria’s Smallholder Farmers
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In a landmark move to bolster Nigeria's agricultural sector, the Bank of Agriculture (BOA) and the African Export-Import Bank (Afreximbank) have joined forces through a historic agreement to launch a $1 billion financing programme. Announced at the International Agriculture Trade Fair (IATF) in 2025, this initiative aims to underpin the Bank of Agriculture’s National Smallholder Farmers Fund with substantial funding and strategic partnership.
The programme seeks to provide crucial financial support to Nigerian smallholder farmers, enabling them to access credit facilities that have traditionally been beyond their reach. This will empower farmers to invest in productivity-enhancing inputs and technology, ultimately increasing agricultural output and strengthening Nigeria’s food security.
Afreximbank’s involvement not only brings financial muscle but also technical expertise, creating a more enabling environment for agricultural development. The agreement underscores a shared commitment to sustainable economic growth driven by Nigeria’s rural economy and agricultural value chains.
At the heart of the collaboration is the recognition that smallholder farmers form the backbone of Nigeria’s agriculture. By facilitating access to affordable financing, strengthened market linkages, and capacity-building opportunities, the partnership aspires to elevate millions of farms from subsistence practices to commercial viability.
This venture aligns with Nigeria’s broader agricultural reform agenda and aims to catalyse a transformation that will ripple across socio-economic strata, uplifting rural livelihoods, creating jobs, and enhancing export potential.
This substantial financing programme opens vast prospects for agro-input suppliers, equipment manufacturers, and agritech enterprises targeting Nigeria’s booming smallholder market. Investors can tap into emerging opportunities in crop production, processing, logistics, and value addition. Public-private partnerships stand to benefit from expanding financing instruments tailored to rural farmers’ unique needs, fostering innovation and improving supply chain efficiency across the sector.
