By Palma Ileye
Ministry of Women Affairs and Social Development, FMWASD, has signed a Memorandum of Understanding, MoU, with the Bank of Agriculture, BOA, to expand access to affordable agricultural finance for women farmers under the Renewed Hope Women Agro-Value Expansion, RH-WAVE, Programme.
Speaking during the signing ceremony in Abuja, the Minister of Women Affairs and Social Development, Hajiya Imaan Sulaiman-Ibrahim described the partnership as a major step towards addressing the long-standing exclusion of women from formal agricultural financing.
Sulaiman-Ibrahim said the agreement aligns with President Bola Tinubu’s Renewed Hope Agenda by ensuring that women, who make up the majority of Nigeria’s smallholder farmers, have greater access to finance, agricultural infrastructure and markets.
According to the Minister, the RH-WAVE programme, launched by President Tinubu last year, has already generated significant interest, with about 33,000 women indicating their willingness to participate during pilot phases in Nasarawa and Kaduna States.
She noted that the next priority was to provide the financing and market support needed to transform the women from subsistence farmers into successful agribusiness entrepreneurs.
Sulaiman-Ibrahim explained that the partnership would focus on three key areas, including concessional input financing at an interest rate below 10 per cent per annum for the first 10,000 women farmers, establishment of women-led agricultural hubs equipped with tractors, solar-powered dryers and processing facilities, and the creation of aggregation channels that guarantee minimum prices for produce.
She added that the initiative also includes a dedicated greenhouse financing window to support year-round climate-smart farming.
The Minister said the Ministry and the BOA aim to reach at least three million women farmers within the next three to five years across the country’s six geopolitical zones.
She disclosed that implementation would begin in Plateau, Kaduna, Katsina, Kano, Sokoto, Bauchi and Nasarawa states before expanding nationwide.
Sulaiman-Ibrahim said the MoU provides the framework for collaboration between both institutions, with a Joint Steering Committee, Programme Management Unit and State Coordination Nodes to oversee implementation.
She assured women farmers that the partnership was designed to improve their access to affordable finance, increase productivity and strengthen their participation in the agricultural value chain.
Speaking at the event, the Managing Director and Chief Executive Officer of the Bank of Agriculture, Ayo Sotinrin reaffirmed the bank’s commitment to empowering women through affordable financing, mechanisation and improved access to quality farming inputs.
He said the partnership would enhance agricultural productivity, create sustainable livelihoods for women farmers and contribute significantly to Nigeria’s food security.
Sotinrin noted that by combining the ministry’s extensive grassroots network with the bank’s financing expertise, the collaboration would help make women-led agribusinesses more productive, profitable and sustainable.
