BOA, AFAN to finance 400,000 dry-season farmers

The Bank of Agriculture (BOA) has teamed up with the All-Farmers Association of Nigeria (AFAN) to offer financing to 400,000 farmers for the 2026 dry-season farming cycle. This initiative, part of BOA's Renewed Hope Smallholder Support and Value Chain Fund, aims to support year-round food production and enhance farmers' access to agricultural inputs and irrigation equipment.

The bank announced the partnership in a statement on Friday, emphasizing its role in improving farmers' livelihoods and ensuring a stable food supply for Nigerians. AFAN will identify and present eligible farmers within its network, providing details such as their locations, commodities, farm sizes, and proposed dry-season acreage.

The association will also identify suitable Farmer Aggregation Companies with verified farmer networks and the capacity to coordinate participating farmers. Approved financing will be distributed through these FACs, who will serve as obligors and coordinate the allocation of inputs and other production requirements. The BOA's Managing Director, Ayo Sotinrin, highlighted that the initiative will help farmers continue production beyond the primary farming season by providing irrigation toolkits and equipment to reduce dependence on rainfall.