Reported by Ariajegbe Sylvia Esezobor
The Bank of Agriculture has partnered with the All Farmers Association of Nigeria to expand access to financing for approximately 400,000 farmers preparing for the 2026 dry-season farming cycle, in an initiative aimed at supporting year-round agricultural production, improving food availability and strengthening the resilience of Nigeria's food supply chains.
The partnership, disclosed in a statement issued in Abuja on Friday, October 2, 2026, is being implemented under the bank's Renewed Hope Smallholder Support and Value Chain Fund, a facility through which the bank is building a credible pipeline of farmers actively engaged in production and requiring financing to sustain or expand their operations during the dry season. Beyond agricultural inputs, the financing will cover irrigation toolkits and other associated irrigation equipment, enabling farmers to reduce their dependence on rainfall and maintain production through the dry season. The bank said expanding agricultural production beyond the main rainy season could increase food availability, improve farmers' incomes and livelihoods, and contribute to more resilient food supply chains across the country.
Under the arrangement, AFAN will identify and present credible farmers within its national network for consideration under the programme, providing information on their locations, commodities, farm sizes and proposed dry-season acreage. The association will also help identify suitable Farmer Aggregation Companies with verifiable farmer networks and the capacity to coordinate participating farmers. Through the Farmer Allocation Model, approved financing will be channelled to eligible farmers through suitable FACs, which will serve as obligors and coordinate the allocation and deployment of approved inputs, irrigation equipment and other production requirements. The model is designed to link farmers with the financing, productive assets and equipment they need to cultivate during the dry season, while ensuring that funds are deployed through credible structures with identifiable farmer networks and clear production plans.
Following the submission of farmer and FAC information by AFAN, the Bank of Agriculture will conduct verification, due diligence and credit assessments in line with its applicable policies and requirements. Participation in the programme will be subject to satisfactory assessment and approval by the bank. The initiative forms part of BOA's broader efforts to expand access to agricultural finance, promote year-round production and strengthen the productive capacity of Nigerian farmers.
Speaking on the initiative, the Managing Director of the Bank of Agriculture, Ayo Sotinrin, said the bank was focused on ensuring that farmers who are ready and able to produce have access to the resources required to sustain their operations beyond the main farming season. "Dry season farming allows us to keep production going beyond the main farming season. Our responsibility is to ensure that farmers who are ready and able to produce have access to the financing, inputs and irrigation equipment they need to do so," Sotinrin said. He added that supporting agricultural production throughout the year would help improve farmers' livelihoods while contributing to a more reliable food supply for Nigerians. According to him, the partnership with AFAN would strengthen the bank's capacity to reach credible farmers at scale and build a stronger pipeline for agricultural financing.
The initiative comes amid longstanding challenges around access to agricultural finance and irrigation infrastructure, which have limited the ability of many Nigerian farmers to sustain production throughout the year. Nigeria's agricultural sector remains largely rain-fed, with the dry season accounting for a significantly smaller share of national food output. Expanding irrigation and providing farmers with the financial resources to cultivate during the dry months is widely seen as essential to reducing seasonal food shortages, stabilising prices and improving the productivity of smallholder farmers. The Federal Government has prioritised agricultural development under the Renewed Hope Agenda, with initiatives targeting improved access to credit, inputs, mechanisation and irrigation.
The partnership also reflects a broader pattern of collaboration between the Bank of Agriculture and AFAN to address the financing constraints that have historically hindered smallholder farmers. In September 2026, the Nigeria Commodity Exchange, in strategic partnership with BOA and AFAN, launched the Guaranteed Minimum Price Programme, designed to protect over 500,000 farmers from price volatility and secure 400,000 metric tonnes of essential grains through structured warehousing and transparent commodity trading systems. The programme is aimed at stabilising food prices and ensuring farmers receive a fair return for their produce. The latest dry-season financing initiative complements that effort by addressing the production side of the equation, ensuring that farmers have the capital and equipment they need to grow crops outside the main rainy season.
For Nigerian farmers, the initiative offers access to financing that has historically been difficult to obtain, particularly for smallholders who lack collateral or formal credit histories. The inclusion of irrigation equipment in the financing package addresses a critical constraint that has limited dry-season cultivation in many parts of the country, where access to water for irrigation remains inadequate. For the wider economy, increased dry-season production could help reduce reliance on food imports, stabilise prices during the lean season and strengthen the country's food security. For AFAN, the partnership reinforces its role as the primary interface between the government and farmers, positioning the association as a key partner in the implementation of agricultural financing programmes.
The bank said the partnership with AFAN forms part of its broader efforts to expand agricultural financing, support year-round production and strengthen the productive capacity of Nigerian farmers. By addressing some of the financing and irrigation constraints associated with dry-season agriculture, the initiative is expected to support increased food production and contribute to a more resilient food system in Nigeria. As Sotinrin put it, the bank's responsibility is to ensure that farmers who are ready and able to produce have access to the financing, inputs and irrigation equipment they need. With the 2026 dry-season cycle approaching, the partnership between BOA and AFAN will be tested by whether the 400,000 farmers identified through the programme receive the financing and equipment required to cultivate, and whether the harvest that follows vindicates the promise of a more reliable food supply for Nigerians.
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