UNDP, Bank of Agriculture Sign Deal to Support Nigeria’s Agricultural Reform

The United Nations Development Programme and the Bank of Agriculture have signed a Memorandum of Understanding to support agricultural reform in Nigeria. The agreement focuses on institutional reform, climate-smart farming systems, and improved access to financing for the sector. It also aligns the Bank of Agriculture’s reform plans with UNDP Nigeria’s Integrated Smart States Programme. The aim is to improve coordination between federal reforms, state programmes, and agricultural investment efforts.

Source: undp

Speaking at the signing, UNDP Resident Representative Elsie Attafuah said the partnership will help improve agricultural financing in the country. She said it will also support the flow of blended finance, climate finance, and private investment to farmers and agribusinesses. According to her, the programme is designed to turn government reforms into results for farmers and communities. She added that the initiative will help strengthen food production, jobs, and income across agricultural value chains.

Managing Director of the Bank of Agriculture, Ayodeji Oludare Sotinrin, said the agreement will strengthen the bank’s capacity and operations. He said the partnership will help the bank mobilise climate finance, blended finance, and private investment for agriculture. Sotinrin said it will also support farmers, agribusinesses, and agro-processing activities across Nigeria. He noted that the plan is to unlock the country’s agricultural potential and improve food security.

The partnership will also support the One Million Hectare Tree Crop Initiative, a government programme aimed at expanding commercial agriculture. The initiative will focus on crops such as cocoa, cashew, oil palm, rubber, and coffee. It is expected to link farmers, cooperatives, processors, and investors in the agricultural value chain. The programme also aims to support export growth, job creation, and ecosystem restoration.

The agreement also includes cooperation on climate finance, digital farmer data systems, and improved market access under the African Continental Free Trade Area. These measures are expected to help farmers access credit and connect to wider markets. As part of the partnership, UNDP handed over ICT equipment to the Bank of Agriculture. The equipment will support digital systems and improve service delivery to farmers and agribusinesses across the country.