Jigawa State, Nigeria – The Bank of Agriculture (BOA), in partnership with WACOT Limited, has flagged off the distribution of agricultural inputs to smallholder farmers in Jigawa State under the Renewed Hope Smallholder Support and Value Chain Programme, reaffirming its commitment to improving food security, increasing agricultural productivity, and enhancing the livelihoods of farmers across Nigeria.

The initiative, implemented under the Federal Government’s Renewed Hope Agenda, introduces an integrated approach to agricultural financing that combines affordable credit, quality farm inputs, extension services, agronomic support, and structured market access. The programme is designed to empower farmers with the resources and technical support required to increase yields while strengthening agricultural value chains.

Speaking during the flag-off ceremony, the Executive Director, Operations and Technology of the Bank of Agriculture, Mr. Hakeem Oluwatosin Salami, who represented the Managing Director/Chief Executive Officer, Mr. Ayo Sotinrin, described the programme as a new model for agricultural financing driven by strong collaboration between government, financial institutions, and the private sector.

He explained that the intervention goes beyond the traditional distribution of farm inputs by providing farmers with a comprehensive support system that improves productivity from planting through harvest and market access.

“Our objective is not only to provide farm inputs but also to significantly improve farmers’ productivity and profitability. Through access to hybrid seeds, quality fertilisers, agronomic support, and structured financing, we expect participating farmers to double or even triple their crop yields,” he said.

Supporting Smallholder Farmers Across Nigeria

The Renewed Hope Smallholder Support and Value Chain Programme is one of the Federal Government’s flagship agricultural initiatives aimed at strengthening food production by supporting over two million smallholder farmers nationwide.

Under the programme, farmers receive quality seeds, fertilisers, agrochemicals, technical advisory services, and guaranteed off-take opportunities through accredited Farmer Aggregation Companies, including WACOT Limited. The intervention also promotes structured financing that enables farmers to access essential agricultural inputs at the beginning of the production cycle while repaying after harvest.

According to Mr. Salami, more than 10 million bags of fertiliser, improved seeds, and structured financing packages will be deployed across more than 20 states, with over one-third of the beneficiaries being women.

He added that approximately 200,000 farmers are expected to benefit during the current wet season, with the target increasing to 500,000 farmers during the dry season.

Affordable Financing to Increase Productivity

The programme provides participating farmers with input packages valued at approximately ₦500,000, comprising improved seeds, two to three bags of fertiliser, and approximately 20 litres of agrochemicals.

Unlike grant programmes, the intervention operates as a single-digit loan facility with an interest rate of 9 per cent, made possible through Federal Government intervention funds. The loans are channelled through accredited Farmer Aggregation Companies, ensuring efficient implementation and stronger value chain coordination.

The repayment period is nine months, allowing farmers to repay after harvest while sustaining a revolving financing model that enables additional farmers to benefit in future farming seasons.

Mr. Salami encouraged beneficiaries to repay their loans promptly, noting that timely repayment is essential to expanding the programme’s reach and ensuring long-term sustainability.

Expanding Irrigation and Year-Round Farming

Beyond seasonal farming support, the Bank of Agriculture is also exploring opportunities to expand irrigation infrastructure that will enable farmers to cultivate throughout the year.

By promoting dry-season farming and multiple planting cycles, BOA aims to reduce dependence on rainfall, improve food production, and strengthen the resilience of Nigeria’s agricultural sector against climate-related challenges.

The Bank believes that improved access to irrigation, combined with quality inputs and modern agronomic practices, will significantly increase farm productivity while creating additional income opportunities for farming households.

WACOT Reaffirms Commitment to Farmers

Also speaking at the event, the Managing Director of WACOT Limited, Mr. Naveen Chaurasia, reaffirmed the company’s commitment to supporting farmers through the provision of quality agricultural inputs, improved farming practices, and structured out-grower programmes covering sesame, rice, and soybean production.

He noted that poor-quality farm inputs and inadequate agronomic practices remain major constraints to agricultural productivity and emphasised the importance of ensuring that farmers receive both quality inputs and the technical knowledge required to maximise their use.

He urged beneficiaries to embrace modern farming techniques and make effective use of the support provided under the programme to improve yields and household incomes.

Strengthening Jigawa’s Agricultural Economy

Representing the Gumel Emirate Council, Alhaji Musa Ayuba described the initiative as a major boost to farming communities across the emirate, particularly for sesame farmers whose produce contributes significantly to Nigeria’s agricultural exports.

He commended the partnership between BOA and WACOT Limited and called for sustained access to affordable agricultural financing and expanded agricultural insurance to protect farmers against production risks arising from climate-related events and other unforeseen challenges.

The traditional council also pledged to mobilise farmers across the emirate to participate actively in the programme and ensure prompt loan repayment, thereby enabling more farmers to benefit from future interventions.

BOA’s Commitment to Agricultural Transformation

The partnership between the Bank of Agriculture and WACOT Limited reflects BOA’s continued commitment to supporting the Federal Government’s agricultural transformation agenda through innovative financing, strategic partnerships, and sustainable agricultural development.

By combining affordable finance, quality agricultural inputs, extension services, and structured market access, the Renewed Hope Smallholder Support and Value Chain Programme provides a comprehensive model for improving agricultural productivity, increasing farmers’ incomes, and strengthening food security across Nigeria.

As Nigeria’s foremost agricultural development finance institution, BOA remains dedicated to empowering farmers, supporting agribusinesses, and driving inclusive economic growth through sustainable investments in agriculture.