The Bank of Agriculture (BOA) and the International Organisation for Migration (IOM) have launched a $200 million agriculture and livelihood fund aimed at empowering internally displaced persons (IDPs) across Nigeria and fostering economic inclusion.
In a statement released on Friday, the BOA said the initiative seeks to move beyond humanitarian aid by providing displaced Nigerians with sustainable means of livelihood. The programme, according to the bank, will offer agricultural financing, training, and access to markets for farmers within displaced communities.
Ayo Sotinrin, Managing Director of the BOA, described the initiative as “an investment in people and national stability,” emphasizing that the partnership goes beyond financial assistance to build long-term resilience and productivity.
Dada Olusegun, Special Assistant to President Bola Tinubu, confirmed in a post on Saturday that the agreement was signed in Abuja by Ugochi Daniels, IOM’s Deputy Director-General for Operations, and Sotinrin on behalf of BOA.
The new fund comes four months after the federal government committed N200 billion to agricultural interventions and earmarked N1.5 trillion for the recapitalisation of the BOA to expand credit access for farmers nationwide.
The BOA-IOM collaboration, supported by the United Nations framework, is expected to contribute significantly to rebuilding livelihoods and strengthening food security among Nigeria’s 3.8 million displaced persons.
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