BOA, Nigerian Air Force Partner On Agricultural Financing

The Bank of Agriculture (BOA) has partnered with the Nigerian Air Force (NAF) Farms and Agro-Allied Services to expand access to concessional financing and modernise farming across NAF agricultural units.

The agreement, announced Saturday by BOA corporate communications lead Ruth Didam, follows a meeting between BOA Managing Director Ayo Sotinrin and leaders of the Air Force farming unit. Both sides identified areas where BOA’s mandate as an agricultural development finance institution can support NAF farming operations.

Key outcomes include plans for concessional finance to procure quality inputs — seeds, fertilisers, crop protection products and soil amendments — and funding for mechanisation such as tractors, harvesters, irrigation systems and processing equipment to raise productivity.

The partnership will also establish credit facilities aligned with agricultural production cycles so repayment schedules match harvest timelines. Parties agreed to leverage available NAF land for farming, highlighting its security advantage for attracting investment, and to channel financial incentives through the NAF Microfinance Bank.

Officials said the initiative will benefit serving officers engaged in farming, retired personnel, and women officers and spouses involved in agricultural activities.

BOA and the NAF plan to formalise the arrangement with a Memorandum of Understanding and set up technical working groups to design financing frameworks and implementation guidelines.

The collaboration aims to strengthen food production capacity within the military while demonstrating how targeted agricultural finance and mechanisation can boost output and livelihoods.