The African Export–Import Bank (Afreximbank) and Nigeria’s Bank of Agriculture (BoA) have signed a $1 billion financing agreement to strengthen support for smallholder farmers and SMEs.
The deal, sealed at the Intra-African Trade Fair 2025, will fund a National Smallholder Farmers’ Fund to address financing gaps in Nigeria’s agriculture sector. The initiative will provide affordable credit for seeds, fertilisers, and mechanisation, while also improving storage, processing, and market access.
Signed by BoA CEO Ayo Sotinrin and Afreximbank EVP Kanayo Awani, the facility is expected to boost productivity, reduce post-harvest losses, enhance food security, and drive inclusive growth.
Afreximbank also announced a separate $210 million facility for Zimbabwe’s power sector.