President Bola Tinubu has mandated the Bank of Agriculture (BOA) to disburse N30 billion to clear debts owed to agro-dealers and suppliers under the National Agricultural Growth Scheme and Agro-Pocket.
Announced on September 24, 2025, this follows funding from the African Development Bank.
Supporting Farmers
The BOA, now overseeing all agricultural funding programs, aims to strengthen Nigeria’s food supply chain.
Spokesperson Judith Ekwebelem stated that payments will be made within 24 hours using a digital wallet system, with weekly progress reports.
Funding Details
The N30 billion, the second tranche from the African Development Bank, targets unpaid dues from the 2024 dry and wet season initiatives.
Finance Minister Wale Edun prioritized the process, which began with data transfer on September 18, 2025.
BOA’s Pledge
Ayo Sotinrin, BOA’s Managing Director, called the directive a pivotal moment.
“This is about securing food for Nigeria. We’re speeding up payments to agro-dealers to help farmers thrive,” he said.
Payment Requirements
Eligible agro-dealers must register for a free BOA account online to receive funds. Sotinrin warned that delays in compliance could slow the process, urging swift action.
Global Ambitions
In talks with Brazil’s President Luiz Inacio Lula Da Silva, Tinubu vowed to eliminate obstacles to enhance agriculture.
He emphasized reforms to position Nigeria’s farming sector for global competitiveness and food self-sufficiency.
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