FG, Bank of Agriculture Partner to Empower Women Farmers with Affordable Loans, Modern Equipment
Oru Leonard
The Federal Government has partnered with the Bank of Agriculture (BOA), to expand access to affordable agricultural financing, modern farming equipment, improved inputs and guaranteed markets for Nigerian women farmers under the Renewed Hope Women Agro-Value Expansion (RH-WAVE) Programme.
The partnership was formalised through the signing of a Memorandum of Understanding (MoU) by the Federal Ministry of Women Affairs and Social Development and the Bank of Agriculture in Abuja.
Speaking at the signing ceremony, the Minister of Women Affairs and Social Development, Hajiya Imaan Sulaiman-Ibrahim, described the agreement as a major milestone in addressing the long-standing exclusion of women from formal agricultural finance.
She said the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to promote inclusive economic growth by ensuring women, particularly those at the grassroots, have access to economic opportunities.
According to the Minister, the RH-WAVE Programme is the Ministry’s flagship initiative aimed at transforming women from subsistence farmers into productive, commercially viable agribusiness entrepreneurs.
Under the agreement, women farmers will benefit from three major interventions, including access to concessional agricultural loans at interest rates below 10 per cent annually, establishment of women-led agricultural hubs equipped with tractors, solar-powered dryers and processing facilities, as well as structured aggregation channels that guarantee market access and fair prices for farm produce.
The programme will initially support 10,000 women with affordable financing, including a dedicated greenhouse financing window to encourage year-round climate-smart farming.
The Minister said the partnership targets three million women farmers over the next three to five years across Nigeria’s six geopolitical zones.
Implementation will commence in Plateau, Kaduna, Katsina, Kano, Sokoto, Bauchi and Nasarawa states before expanding nationwide.
She noted that the collaboration combines the Ministry’s nationwide network of women farmers with BOA’s financial expertise to make women-led agriculture more sustainable and commercially attractive.
Addressing women farmers, the Minister assured them of the Federal Government’s commitment to supporting their contributions to national food security and economic development.
The MoU also establishes a Joint Steering Committee, Programme Management Unit and State Coordination Nodes to oversee implementation, monitor progress and ensure accountability.
Managing Director and Chief Executive Officer of the Bank of Agriculture, Mr. Ayodeji Sotinrin, said the initiative aligns with the bank’s mandate to expand agricultural financing while increasing women’s participation across the agricultural value chain.
He disclosed that BOA would begin by supporting 200,000 women farmers, with plans to scale up through the partnership.
According to him, beneficiaries will have access to single-digit interest loans, improved seeds, modern farming equipment and subsidised tractors with flexible repayment plans spanning three to five years.
Sotinrin added that the programme will leverage Farmer Aggregation Companies to strengthen credit delivery, improve monitoring and ensure loan repayment, making the initiative sustainable and enabling more women to benefit over time.
Earlier, the Permanent Secretary of the Federal Ministry of Women Affairs and Social Development, Mrs. Esuabana Nko Asanye, described the partnership as a significant step towards advancing women’s economic empowerment, boosting agricultural productivity, improving food security and supporting Nigeria’s broader economic transformation.
