The Bank of Agriculture (BOA) and NIRSAL Connect are exploring strategic financing solutions, including layered credit guarantees and solar-powered irrigation, to expand dry-season farming and increase agricultural production across Nigeria.
The initiative was discussed during a strategic meeting between the Managing Director and Chief Executive Officer of BOA, Ayo Sotinrin, and his team, and the Managing Director and Chief Executive Officer of NIRSAL Connect, Mr Sa’ad Hamidu, alongside his team.
The discussions focused on developing practical financing arrangements that would support BOA’s dry-season financing programme while addressing some of the major challenges limiting farmers’ participation in year-round agricultural production.
A key area of consideration was the use of layered credit guarantees to help reduce lending risks, encourage greater financing for agriculture and improve access to funds for farmers undertaking dry-season cultivation.
The proposed collaboration also examined opportunities to integrate solar-powered irrigation into agricultural financing arrangements, enabling farmers to access more reliable water supplies and sustain production beyond the rainy season.
Dry-season farming offers significant opportunities to increase food production, improve farmers’ incomes and strengthen Nigeria’s food security. However, limited access to affordable financing and reliable irrigation infrastructure continues to constrain the ability of many farmers to take advantage of these opportunities.
By exploring credit guarantees alongside irrigation solutions, BOA and NIRSAL Connect aim to develop approaches that link access to finance with the infrastructure farmers need to achieve better production outcomes.
Reliable irrigation can enable farmers to cultivate crops outside the traditional rainy season, increase the number of harvest cycles and improve the utilisation of available farmland. Solar-powered systems may also provide an alternative source of energy for water pumping, particularly in locations where access to conventional electricity is limited.
The proposed partnership could therefore help address interconnected barriers to agricultural production by bringing together financial risk-sharing mechanisms and practical irrigation solutions.
For BOA, the engagement aligns with its broader efforts to expand agricultural financing, strengthen value chains and support farmers in increasing productivity. Collaboration with institutions such as NIRSAL Connect could help develop financing structures that encourage greater participation in dry-season agriculture.
Both teams explored practical ways to advance the initiative, with a shared focus on making financing and reliable irrigation more accessible to Nigerian farmers.
The engagement highlights the importance of partnerships among agricultural finance institutions and other stakeholders in unlocking the potential of dry-season farming.
As Nigeria continues to pursue increased food production and stronger food security, innovative financing arrangements, improved irrigation infrastructure and coordinated institutional support will remain essential to helping farmers produce throughout the year.
