LocationsUNDP and Bank of Agriculture Sign Landmark Partnership to Catalyse Nigeria’s Agricultural Transformation
March 17, 2026
UNDP Resident Representative, Ms. Elsie Attafuah and Mr. Ayodeji Oludare Sotinrin, BOA Managing Director and Chief Executive Officer
Abuja, 17 February 2026 – The United Nations Development Programme (UNDP) and the Bank of Agriculture (BOA) today signed a strategic Memorandum of Understanding (MoU) to accelerate Nigeria’s agricultural transformation through institutional reform, climate-smart food systems, and large-scale financing mobilisation.
The partnership aligns BOA’s institutional revitalisation agenda with UNDP Nigeria’s Integrated Smart States Programme (ISSP) — a portfolio-based delivery architecture linking federal reforms, state-level delivery platforms, innovation ecosystems, and bankable investment pipelines. The collaboration is designed to shift Nigeria’s agricultural transformation from fragmented interventions to integrated, investment-ready systems capable of delivering food security, jobs, exports, and climate resilience at scale.
Speaking at the ceremony, UNDP Resident Representative, Ms. Elsie Attafuah, noted that the partnership reflects UNDP Nigeria’s strategic pivot from projects to portfolios, and from aid to co-investment: “This partnership is about redesigning Nigeria’s agricultural financing and delivery architecture — so that blended finance, climate finance, and private capital can flow at scale to farmers, processors, and markets across Nigeria’s states. Through the Integrated Smart States Programme, we are translating reform momentum into visible outcomes for people — food on the table, jobs in communities, and incomes across value chains. UNDP’s role is to act as a systems integrator and investment catalyst, helping government and finance institutions convert ambition into bankable pipelines and delivery at scale.”
BOA Managing Director and Chief Executive Officer, Mr. Ayodeji Oludare Sotinrin, emphasised that the partnership will strengthen BOA’s institutional capacity and investment readiness, positioning the Bank as a modern, high-impact agricultural development finance institution capable of mobilising capital for climate-smart agriculture, agro-processing, and market access across Nigeria:
“This partnership with UNDP supports our ongoing institutional re-engineering and positions the Bank of Agriculture to mobilise climate finance, blended finance, and private capital at scale. It strengthens our ability to structure bankable agricultural pipelines, support farmers and agribusinesses, and unlock Nigeria’s vast agricultural potential as a driver of food security, jobs, and export growth.”
A flagship pillar of the partnership is support to the One Million Hectare Tree Crop Initiative, a Presidential priority aimed at driving large-scale commercial agriculture, export diversification, job creation, ecosystem restoration, and climate resilience through public–private partnerships and state-level delivery platforms. The initiative will focus on high-value tree-crops such as cocoa, cashew, oil palm, rubber, and coffee, linking smallholders, cooperatives, processors, and investors into integrated value chains.
The MoU also anchors collaboration on blended finance and climate finance mobilisation, digital farmer systems and data-driven credit profiling, market access under the African Continental Free Trade Area (AfCFTA), and institutional reform to strengthen BOA’s governance, performance systems, and delivery capacity.
As part of the institutional strengthening pillar of the partnership, UNDP formally handed over ICT equipment to BOA to support digital modernisation, data systems, and delivery readiness — enabling more efficient service delivery to farmers and agribusinesses nationwide.
The UNDP–BOA partnership is expected to accelerate food security, strengthen rural livelihoods, unlock domestic and international investment into agriculture, and position Nigeria’s agricultural sector as a central engine of jobs, exports, and climate resilience — aligned with national reform priorities and UNDP’s Integrated Smart States Programme.
Note to Editors
About UNDP:
The United Nations Development Programme (UNDP) is the leading United Nations organisation fighting to end the injustices of poverty, inequality, and climate change. Working with a broad network of experts and partners in over 170 countries, UNDP helps nations to build integrated and lasting solutions for people and the planet.
UNDP Nigeria is driving a new era of development through its Integrated Smart States Programme (ISSP), a bold, system-wide approach that delivers high-impact solutions across Nigeria’s diverse regions. At its core are five flagship portfolios focused on innovation, digital transformation, and the knowledge economy; trade, investment and financing for development; integrated, clean and decentralized energy systems; accelerated community development; and the Made in Nigeria initiative. Together, they enable inclusive, locally led growth, while deepening institutional capacity and unlocking scalable, future-ready development pathways. Learn more: https://www.undp.org/nigeria
About BOA:
The Bank of Agriculture (BOA) is wholly owned by the Federal Government of Nigeria through the Federal Ministry of Finance Incorporated (MOFI) and Central Bank of Nigeria (CBN) in the ratio of 60%: 40% respectively. The Bank of Agriculture (BOA) was incorporated as Nigerian Agricultural Bank (NAB) in 1972 and became operational in 1973 to carry out the functions of a Development Finance Institution for the Agriculture and Rural Development sector.
BOA is Nigeria’s largest development Finance Institution (DFI) in Agricultural Financing. It is also the DFI with the highest operational coverage nationwide boasting over 110 outlets across Nigeria and 6 zonal offices in all the 6 geopolitical zones. The Bank is mandated to provide agricultural credit facilities to support all agricultural value chain activities, provide non-agricultural micro credit, Savings mobilization, Capacity development is a natural partner. It therefore has the highest interface with small holder farmers, as well as deep institutional knowledge of rural and agricultural financing.
Media Contacts:
Ms. Weyinmi Eribo
Head of Partnerships
Office of the Managing Director/CEO
Bank of Agriculture Ltd.
1 Yakubu Gowon Way,
P.M.B. 2155, Kaduna, Nigeria.
Email: weyinmi.eribo@boanig.com
Ms. Christabel Chanda Ginsberg
Public Engagement, Outreach & Partnerships Lead
United National Development Programme (UNDP)
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