Nigeria rolls out loan and leasing schemes to boost smallholder farmer productivity

The Bank of Agriculture (BoA) and WACOT Limited have launched a single‑digit interest loan programme for smallholder farmers in Jigawa State. The scheme provides inputs such as improved seeds, fertiliser and agro‑chemicals, with each package valued at about ₦500,000 and a 9% interest rate. BoA Managing Director Ayo Sotinrin said, "Our goal is not only to provide inputs but to significantly increase farmers’ yields," targeting 200,000 beneficiaries this wet season and up to 500,000 in the dry season.

Separately, the Equipment Leasing Registration Authority and Heifer Nigeria signed a two‑year memorandum to lease tractors, irrigation systems and other equipment to farmers in Benue, Nasarawa, Ogun and Edo states. The initiative, part of Heifer’s Naija Unlock Programme, offers flexible leasing and lease‑to‑own models. ELRA CEO Donald Wokoma noted, "This partnership demonstrates how equipment leasing can unlock opportunities for farmers, cooperatives, women and young agripreneurs," aiming to strengthen food security and agricultural value chains across the country.