The Federal Government has launched a ₦1.5 trillion recapitalisation of the Bank of Agriculture (BoA) alongside a ₦250 billion credit facility aimed at strengthening food security and driving Nigeria’s agricultural transformation.

Minister of Agriculture and Food Security, Abubakar Kyari, said the initiatives are part of President Bola Ahmed Tinubu’s Renewed Hope Agenda, designed to modernise farming, expand mechanisation, and boost food production nationwide.

According to the minister, the ₦1.5 trillion recapitalisation will enable the BoA to de-risk agricultural financing, increase its lending capacity, and attract private investment across the value chain. The ₦250 billion single-digit interest loan scheme, meanwhile, targets smallholder farmers to improve access to inputs, equipment, and working capital.

Kyari described the intervention as a “strategic investment to modernise agriculture and secure Nigeria’s food systems,” noting that the reforms also aim to curb the nation’s post-harvest losses, estimated at over US$10 billion annually.

Analysts have praised the initiative as a positive step toward revitalising rural economies but emphasised the need for transparency and effective implementation to ensure that the funds reach genuine farmers and yield sustainable impact. Visit www.jocomms.com for more news.