The Bank of Agriculture (BOA) and the Federal Ministry of Women Affairs have commenced plans to establish a financing framework aimed at improving access to credit and productive resources for women farmers across Nigeria.
The initiative emerged following a meeting between the management of the BOA and the Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, in Abuja on Wednesday. The discussions focused on strengthening agricultural empowerment programmes and increasing women’s participation in the agricultural sector.
Speaking during the visit, BOA Managing Director, Mr Ayo Sotinrin, highlighted the significant contribution of women to agricultural production in the country. He noted that women account for nearly half of participants in the rice value chain and constitute as much as 80 per cent of rural farmers.
According to him, an estimated 35 million to 50 million women are actively engaged in agriculture nationwide, making it imperative to provide targeted financial support that can enhance productivity, reduce poverty and improve food security.
Sotinrin explained that the bank was moving beyond traditional microcredit schemes towards structured financing models that support smallholder farmers and agricultural value chains. He said the approach was designed to provide sustainable funding and long-term economic benefits for farmers.
He cited the Renewed Hope Smallholder and Value Chain Programme, developed in partnership with the Presidency, as one of the bank’s key interventions. The programme offers beneficiaries access to financing, training, agricultural inputs and market opportunities through aggregation companies and state-supported funding arrangements.
The BOA chief added that women, youths, internally displaced persons and persons with disabilities remain central to the bank’s inclusion-driven programmes aimed at fostering economic growth and rural development.
Sotinrin further disclosed that the bank had introduced technology-based lending systems that digitally profile farmers, build credit records and gradually ease collateral requirements for borrowers in the agricultural sector.
He expressed the bank’s willingness to collaborate with the ministry on initiatives such as the Women’s Agricultural Value Empowerment (WAVE) Programme and the Nigeria for Women Project Scale-Up.
In her response, Sulaiman-Ibrahim stressed the importance of improving women’s access to finance, land and agricultural inputs, describing them as critical factors for boosting productivity and strengthening livelihoods.
The minister revealed that more than 33,000 women had indicated interest in accessing financing under the WAVE Programme within a month of its launch, demonstrating the growing demand for women-focused agricultural support.
She noted that women have consistently demonstrated strong repayment records in credit schemes, making them dependable beneficiaries of agricultural financing programmes.
According to her, establishing sustainable funding mechanisms would ensure that repaid loans can be recycled to support more women farmers, thereby extending the impact of empowerment initiatives across communities.
“Women do not need handouts; they need opportunities and the right financial products to succeed,” the minister stated.
Both parties agreed to set up technical committees to develop a pilot implementation framework within one week while also exploring solutions to land ownership and access challenges facing women farmers nationwide.
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