By Tech and Biz News NG
The Bank of Agriculture (BOA) has reaffirmed its commitment to strengthening Nigeria’s food security and transforming agricultural productivity through the launch of the Renewed Hope Smallholder Support and Value Chain Programme, an initiative designed to support two million smallholder farmers across the country.
Speaking at the official flag-off of the programme in Zaria, Kaduna State, the Managing Director and Chief Executive Officer of the Bank of Agriculture, Ayo Sotinrin, said Nigeria’s quest for sustainable food security depends on empowering millions of farmers to increase productivity, improve incomes, and contribute more meaningfully to the national economy.
According to Sotinrin, addressing Nigeria’s food security challenges requires more than increasing agricultural output. He noted that the country must build efficient systems that enable farmers to produce at scale, gain reliable access to markets, and derive sustainable value from their agricultural activities.
“The challenge before us is not only increasing production but also building the systems that enable farmers to produce at scale, access markets, and create sustainable value from their efforts,” he said.
He explained that under the Renewed Hope Smallholder Support and Value Chain Programme, the Bank of Agriculture will provide a comprehensive support framework that combines structured agricultural financing with quality farm inputs, extension services, and a Guaranteed Minimum Price (GMP) mechanism aimed at reducing market uncertainty and protecting farmers from volatile commodity prices.
Sotinrin stated that these interventions are designed to provide a more predictable pathway for farmers from production through to market, thereby improving productivity, enhancing profitability, and strengthening Nigeria’s agricultural value chains.
The programme is being implemented in collaboration with Arzikin Noma Africa, the programme’s Anchor Farmer Aggregator, to ensure effective coordination and delivery of support to participating farmers.
The launch ceremony attracted key stakeholders from across the agricultural sector, including the Minister of Agriculture and Food Security, Senator Abubakar Kyari, government officials, development partners, and private sector participants, all united in advancing Nigeria’s food security agenda.
With a target of reaching two million smallholder farmers nationwide, the initiative represents one of the country’s significant collaborative efforts to build a more resilient, productive, and inclusive agricultural ecosystem capable of driving rural development and economic growth.
Reaffirming the Bank’s mandate, Sotinrin emphasized that the institution remains committed to providing innovative agricultural financing solutions that empower farmers, strengthen agribusinesses, and support the Federal Government’s broader objective of achieving sustainable food security and economic development.
The Renewed Hope Smallholder Support and Value Chain Programme aligns with ongoing national efforts to improve agricultural productivity, strengthen value chains, increase rural incomes, and reduce Nigeria’s dependence on food imports through strategic investments in local food production.
