The Managing Director and Chief Executive Officer of the Bank of Agriculture, Ayo Sotinrin, has highlighted the bank’s role in financing farmers and strengthening food security in Nigeria.
Sotinrin made this known during a live appearance on Max 90.9 FM, where he discussed the bank’s efforts to support agricultural production and improve the sustainability of Nigeria’s food systems.
He explained that the Bank of Agriculture provides financing across different stages of the agricultural value chain, from supporting farmers during production to improving access to aggregation centres, storage facilities and markets.
According to him, strengthening these critical areas is essential to ensuring that agricultural produce is efficiently managed and reaches consumers through a more organised and sustainable food supply system.
The BOA chief executive also highlighted the bank’s ₦200 billion Guaranteed Minimum Price Programme, which is designed to support farmers when market prices decline during the harvest season.
The programme also seeks to promote a more structured grain supply system by improving the connection between farmers, organised markets and other stakeholders within the agricultural value chain.
Sotinrin’s remarks underscored the importance of accessible agricultural financing, improved market infrastructure and coordinated value-chain development in boosting food production and strengthening food security across Nigeria.
