The Federal Ministry of Women Affairs and Social Development and the Bank of Agriculture (BOA) have signed a landmark Memorandum of Understanding (MoU) to expand access to affordable agricultural finance, modern farming equipment, improved inputs and reliable markets for Nigerian women farmers under the Renewed Hope Women Agro-Value Expansion (RH-WAVE) Programme.
Speaking at the signing ceremony in Abuja, the Honourable Minister of Women Affairs and Social Development, Hajiya Imaan Sulaiman-Ibrahim, FSI, described the partnership as a major step towards addressing the long-standing exclusion of women from formal agricultural finance
“Today is not a ceremony of paperwork. It is the moment two institutions decide to close, together, one of the most persistent gaps in our economy—the exclusion of women from formal agricultural finance,” the Minister said.
She noted that women are central to Nigeria’s agricultural sector and food production but remain among the most underserved in access to finance, infrastructure, technology and markets.
According to the Minister, the partnership is a direct reflection of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises inclusive economic growth and ensures that opportunities reach women at the grassroots.
“This partnership is a direct expression of Mr. President’s Renewed Hope Agenda—an inclusive growth agenda that reaches the woman in the field, not just the boardroom,” she stated.
The Minister explained that RH-WAVE is the Ministry’s flagship initiative designed to move women from subsistence farming into structured, productive and bankable agribusinesses.
Under the partnership, women farmers will benefit through three key intervention pillars:
Affordable Input Financing: Women farmers will access concessional agricultural loans at a preferential interest rate of below 10 per cent per annum, beginning with the first 10,000 beneficiaries. A dedicated greenhouse financing window will also support year-round and climate-smart agricultural production.
Women-Led AgriHubs and Mechanisation: The partnership will establish co-branded agricultural hubs equipped with tractors, solar-powered dryers and processing facilities. The hubs will be led and staffed predominantly by women and supported by the Federal Government’s 40 per cent subsidy on agricultural equipment.
Aggregation and Guaranteed Market Access: Women-focused aggregation channels will be created to purchase agricultural produce at guaranteed minimum prices above prevailing market rates, providing women farmers with fair, predictable returns and direct access to off-takers.
The Minister disclosed that the partnership aims to reach at least three million women within the next three to five years across the six geopolitical zones.
Implementation will begin in Plateau, Kaduna, Katsina, Kano, Sokoto, Bauchi and Nasarawa States, based on existing beneficiary data and programme readiness, before expanding nationwide.
“What we need now is not more interest; it is the financing rarchitecture and market discipline to convert that demand into lasting income. That is exactly what BOA brings,” the Minister said.
Speaking further, the Minister said,
“You bring the finance; we bring the women, the reach and the mandate. Together, we make women-led agriculture bankable at scale.”
Addressing Nigerian women farmers, the Honourable Minister declared:
“Your work feeds this nation, and today, this nation invests in you.”
The MoU provides a formal framework for cooperation between the Ministry and BOA and will establish a Joint Steering Committee, Programme Management Unit and State Coordination Nodes to coordinate implementation and ensure accountability.
In his remarks, the Managing Director and Chief Executive Officer of the Bank of Agriculture, Mr. Ayodeji Sotinrin, said the partnership aligns with BOA’s mandate to expand agricultural financing and strengthen women’s participation across the agricultural value chain.
He disclosed that the Bank would begin by supporting 200,000 with plans to scale the programme through the partnership.
“Our commitment stems from the need and necessity to lend to the agricultural sector. When we look at the demographics of the farmers who repay, they are mostly women. That is a major strength for us,” he said.
Mr. Sotinrin explained that beneficiaries would access single-digit financing, improved seeds and modern agricultural tools capable of significantly increasing productivity and income.
He also highlighted opportunities for women to acquire subsidised tractors under the Federal Government’s agricultural equipment support programme, with flexible repayment arrangements over three to five years.
According to him, the partnership will leverage Farmer Aggregation Companies to facilitate efficient credit delivery, strengthen monitoring and improve repayment, thereby enabling more women to benefit continuously from the programme.
“When funds are repaid, we can extend the opportunity to more women. This programme is designed to be sustainable and ongoing, not a one-off intervention,” he stated.
Earlier, the Permanent Secretary of the Federal Ministry of Women Affairs and Social Development, Mrs. Esuabana Nko Asanye, welcomed the BOA delegation and other stakeholders, describing the partnership as a significant milestone in advancing women’s economic empowerment, agricultural productivity and inclusive national development.
The RH-WAVE Programme is expected to increase women’s access to agricultural finance, improve productivity, strengthen food security, expand market opportunities, create sustainable livelihoods and contribute to Nigeria’s economic transformation.
Ahmed Lawan Danbazau Mnipr
Head, Information, Press and Public Relations Dept.
(FMWASD)
