The Managing Director and Chief Executive Officer of the Bank of Agriculture, Ayo Sotinrin
The Bank of Agriculture has begun the nationwide distribution of fertilisers, maize seeds and crop protection products to about 500,000 smallholder farmers under the Federal Government’s Renewed Hope Smallholder Support and Value Chain Fund, as part of efforts to boost food security and improve rural livelihoods.
The initiative, which targets farmers across more than 20 states, is meant to support the cultivation of about 520,000 hectares of farmland and generate an estimated 2.6 million tonnes of additional food for the country.
The intervention was disclosed by the Managing Director and Chief Executive Officer of the Bank of Agriculture, Ayo Sotinrin, during the flag-off of the distribution exercise in Dutse, the Jigawa State capital. He was represented at the event by the bank’s Divisional Head of Finance and Strategy, Osho Adekunle, according to a statement issued on Sunday by the bank’s Head of Operations Lead, Office of the Managing Director/Chief Executive Officer, Adam Mohammed.
Sotinrin said the initiative forms part of a nationwide agricultural support programme designed to strengthen the country’s food production capacity.
He said, “The intervention formed part of a nationwide programme targeting nearly 500,000 farmers, who will cultivate about 520,000 hectares of farmland, with an expected output of at least 2.6 million tonnes of additional food for Nigeria’s food basket.”
The BOA boss disclosed that the programme had already recorded significant progress, with close to 200,000 farmers already financed across the country.
He stated, “The programme has already recorded significant progress, with close to 200,000 farmers financed, while 1.8 million bags of fertiliser and 329,000 bags of quality, high-yielding seeds were being distributed through 20 Farmer Aggregation Companies in more than 20 states.”
Sotinrin noted that more than one-third of the beneficiaries are women, describing the initiative as evidence of the Federal Government’s commitment to inclusive agricultural development under President Bola Tinubu’s Renewed Hope Agenda.
He said, “This initiative is a concrete expression of the Renewed Hope Agenda of Mr President, a policy that moves beyond promises to deliver structure, funding and institutional support for agriculture.
“It tells every Nigerian farmer that they are not alone, as the government and its institutions stand with them from the soil to the market.”
Furthermore, he said that the Bank of Agriculture remained committed to serving as the vehicle for delivering the Federal Government’s agricultural intervention directly to farmers nationwide.
While addressing beneficiaries, Sotinrin urged them to maximise the opportunity by making proper use of the farm inputs, adhering to recommended agronomic practices, maintaining accurate farm records and promptly reporting any challenges encountered during the farming season.
Speaking on behalf of the beneficiaries, Solomon Mathew commended the President Bola Tinubu-led administration for the intervention, describing it as timely and capable of easing the burden of acquiring costly farm inputs.
He was hopeful that the support would enable smallholder farmers to cultivate larger portions of their farmland and improve productivity during the current farming season.
