The Bank of Agriculture (BOA), in partnership with WACOT Limited, has begun distributing agricultural inputs and providing financing to smallholder farmers in Jigawa State under the Federal Government’s Renewed Hope Smallholder Farmer Support and Value Chain Programme.
The initiative is aimed at increasing agricultural productivity, strengthening food security and improving the incomes of farmers across the state.
Speaking at the flag-off ceremony in Jigawa, BOA Executive Director of Operations and Technology, Tosin Salami, who represented the bank’s Managing Director, Ayo Sotinrin, said the programme marked a new approach to agricultural financing through collaboration between government, financial institutions and the private sector.
According to him, the programme combines the provision of farm inputs with financing, extension services, agronomic support and access to structured markets.
Beneficiaries will receive improved seeds, fertiliser, agrochemicals and technical support, while arrangements have also been made to provide guaranteed markets for their produce.
Salami said the nationwide programme was expected to reach more than two million smallholder farmers across over 20 states, with more than 10 million bags of fertiliser, improved seeds and financing to be distributed. Women are expected to account for more than one-third of the beneficiaries.
He disclosed that about 200,000 farmers would benefit during the current farming season, with the number expected to rise to 500,000 during the dry season.
“Our goal is not only to provide inputs but also to double and even triple farmers’ yields,” Salami said.
He explained that while many farmers currently produce between one and one-and-a-half tonnes per hectare, the use of hybrid seeds, quality inputs and improved farming techniques could raise yields to between three and five tonnes per hectare.
The BOA executive director also said the bank was working to expand irrigation support to enable farmers to cultivate throughout the year instead of relying solely on rainfall.
Under the scheme, each beneficiary will receive improved seeds, between two and three bags of fertiliser and approximately 20 litres of agrochemicals.
The intervention is structured as a loan rather than a grant, with a single-digit interest rate of nine per cent, supported by Federal Government intervention funds.
Each farm input package is valued at approximately ₦500,000, while farmers are projected to generate about ₦1.5 million in income by the end of the farming season. The loans have a nine-month repayment period and are disbursed through accredited farmer aggregation companies, including WACOT.
Salami urged beneficiaries to repay the loans promptly to ensure that the revolving fund remains available to support other farmers in subsequent farming seasons.
He commended the Jigawa State Government under Governor Umar Namadi for its investments in agricultural extension services, irrigation and climate-smart farming.
WACOT Managing Director, Naveen Chaurasia, said the company remained committed to helping farmers improve their productivity through quality inputs, modern agronomic practices and structured out-grower schemes covering sesame, rice and soybean production.
Chaurasia identified poor-quality farm inputs and inadequate farming practices as major challenges affecting agricultural productivity.
He urged farmers to adopt modern farming methods and ensure that agricultural inputs were properly applied to achieve better yields and higher incomes.
A representative of the Gumel Emirate Council, Alhaji Musa Ayuba, described the initiative as a major boost for farming communities in the emirate.
He noted that Gumel had a long history of agricultural production, particularly sesame farming, and expressed optimism that the programme would strengthen the local economy and increase Nigeria’s foreign exchange earnings through higher sesame exports.
The traditional council also appealed to the Bank of Agriculture to sustain affordable agricultural credit and consider expanding agricultural insurance to protect farmers from losses caused by natural disasters.
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