President Bola Ahmed Tinubu has directed the Bank of Agriculture to immediately clear outstanding arrears owed to agro-dealers and input suppliers under the National Agricultural Growth Scheme and Agro-Pocket. The order follows the release of ₦30 billion by the African Development Bank as the second tranche of funding for the programme. The directive is aimed at addressing delayed payments from the 2024 dry and wet season farming cycles and restoring confidence in Nigeria’s agricultural value chain.

The Bank of Agriculture has been designated as the custodian of all funds for agricultural financing, with a clear mandate to ensure speedy and transparent disbursement. Payments are expected to be made through the bank’s electronic wallet system, allowing verified agro-dealers to receive funds within 24 hours of processing. Weekly updates will also be published to track progress until all arrears are fully cleared.

Government officials noted that eligibility for payment requires beneficiaries to have been pre-registered under the programme before 2025, received at least one prior payment, and activated an account with the Bank of Agriculture. The move forms part of President Tinubu’s wider agricultural reforms under the Renewed Hope Agenda, designed to stabilize food supply, support farmers, and boost local production.