The Federal Ministry of Women Affairs and Social Development has partnered with the Bank of Agriculture (BOA) to expand agricultural opportunities for three million women under the Women Agro-Value Expansion (WAVE) programme.
The partnership was formalised through the signing of a Memorandum of Understanding (MoU) in Abuja and is aimed at improving women’s access to agricultural financing, mechanisation and opportunities across the country’s agricultural value chain.
Speaking at the signing ceremony, the Minister of Women Affairs and Social Development, Hajiya Imaan Sulaiman-Ibrahim, said the initiative supports President Bola Tinubu’s Renewed Hope Agenda by promoting food security and strengthening women’s participation in the agricultural economy.
She noted that despite women’s significant contribution to agricultural production, many still face challenges in accessing finance, machinery and other resources required to expand their businesses.
“This MoU with the Bank of Agriculture fills the critical financing gap confronting women in agriculture.
“Women are already farming, but many cannot scale because they lack access to finance and support.
“Access to finance will move women beyond smallholder farming into agro-entrepreneurship, creating agro-billionaires,” she said.
According to the minister, the WAVE programme will create opportunities for women across various segments of the agricultural value chain, including mechanised farming, input distribution, processing and other agribusiness activities.
She added that beneficiaries would receive education, digital tools and other forms of support designed to improve productivity and enable them to establish sustainable agricultural enterprises.
Sulaiman-Ibrahim disclosed that about 33,000 women had already registered their interest in the programme, while the Federal Government aims to reach three million beneficiaries in the coming years.
She urged women across the country to take advantage of the initiative, stressing that increased economic empowerment of women would have positive impacts on families, communities and the wider economy.
“Women are the solution. We must attract more women into agriculture and create opportunities that amplify the gains of this partnership,” she said.
Earlier, the Managing Director of the Bank of Agriculture, Ayo Sotinrin, reaffirmed the bank’s commitment to expanding access to agricultural finance for women.
He noted that women constitute a significant proportion of the bank’s reliable loan beneficiaries and said BOA would provide support through input financing, mechanisation and other interventions aimed at increasing agricultural productivity and incomes.
Sotinrin explained that beneficiaries would have access to improved seeds and other agricultural inputs at subsidised interest rates to enhance crop yields.
“Instead of one tonne per hectare, farmers can harvest up to five tonnes through improved seeds and better support. Raising productivity remains Nigeria’s most pressing agricultural priority,” he said.
He further disclosed that women would be able to acquire tractors at subsidised rates, with repayment spread over three to five years.
“A woman can acquire a tractor, provide services to farmers and repay gradually until she owns it outright.
“This strengthens the business case for women in mechanisation,” he said.
The BOA managing director added that the bank would work with farmer cooperatives and aggregation companies to improve access to loans, strengthen repayment mechanisms and expand agricultural financing across the country.
He expressed confidence that the initiative would attract additional support from development partners and relevant government institutions.
Also speaking, the Permanent Secretary of the Ministry of Women Affairs and Social Development, Esuabana Nko Asanye, said the partnership would help transition women from subsistence farming to commercial agriculture.
She explained that the programme would provide beneficiaries with access to mechanisation services, finance, improved seeds, demonstration farms and technical agricultural training.
According to her, participating women would also have opportunities to become tractor owners and operators, seed producers, agricultural input suppliers and agribusiness managers.
“The programme begins modestly but progressively empowers women to become financially independent,” she said.
Asanye added that the initiative would increase women’s earnings, strengthen household livelihoods and contribute to higher food production across Nigeria.