FG, BoA Partner To Move 80m Vulnerable Nigerians From Aid To Livelihoods

The federal government has partnered with the Bank of Agriculture (BoA) to connect vulnerable Nigerians with agricultural financing, productive assets and enterprise opportunities as part of efforts to move beneficiaries from humanitarian assistance to sustainable livelihoods.

The partnership was formalised through a Memorandum of Understanding (MoU) between the Federal Ministry of Humanitarian Affairs and Poverty Reduction and BoA.

Under the agreement, the government will leverage the National Social Register to identify eligible beneficiaries and match them with interventions based on their economic circumstances and needs.

Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Doro, said the National Social Register contains about 20 million vulnerable households, representing approximately 80 million individuals, with more than 10 million people already validated through their National Identification Numbers (NIN).

Doro said the credibility of the register was strengthened through vulnerability assessments, community-based targeting, data collection, verification and analysis.

He said the database would enable the government to move away from a one-size-fits-all approach to poverty reduction by tailoring interventions to the specific circumstances and needs of beneficiaries.

“This forms a large database of individuals that we can mine from in order to tailor different interventions to meet the needs of these individuals,” Doro said.

According to him, the partnership with BoA would translate the ministry’s social protection reforms into practical economic opportunities by connecting vulnerable Nigerians to agricultural finance, productive inputs, enterprise opportunities and livelihood support.

He said the collaboration would also improve coordination in humanitarian interventions, eliminate duplication, reduce wastage and leakages, and ensure greater impact from government resources.

Doro said the ministry’s One Humanitarian, One Poverty Response System (OHOPRS) was designed to promote a coordinated approach to humanitarian response and poverty reduction.

Under the agreement, BoA will develop financing interventions for eligible beneficiaries, including agricultural loans, fertiliser, seeds, value-chain financing and other financial products tailored to vulnerable groups.

The bank will also profile participating farmers to understand their economic activities and develop appropriate credit-scoring mechanisms to improve their access to finance.

The Managing Director/Chief Executive Officer of BoA, Oyedeji Oludare Sotinrin, said the bank’s objective was to empower vulnerable Nigerians to increase productivity and improve their livelihoods.

He said BoA’s support would extend beyond agricultural inputs to include appropriate financing and other interventions capable of creating sustainable economic opportunities.

The partnership will cover agricultural financing, poverty reduction programmes, humanitarian interventions, social investment, livelihood restoration, financial inclusion, women’s economic empowerment, youth development, climate resilience, skills acquisition, rural development, food security and enterprise development.

It will also create opportunities for the government to mobilise development partners, donor agencies, private-sector organisations and multilateral institutions to scale up agreed programmes.

The initiative is further linked to the proposed Nigeria Poverty Resilience Fund (NPRF), which seeks to connect verified vulnerable households on the National Social Register to productive opportunities, including agricultural inputs, affordable credit and structured value chains.

Under the proposed framework, beneficiaries will be reached in three batches, subject to applicable implementation arrangements.

The broader objective is to help vulnerable households transition from receiving assistance to building productive capacity, generating income and strengthening resilience against poverty and economic shocks.

The MoU, valid for an initial period of three years and renewable by mutual agreement, provides for implementation structures, operational frameworks and work plans, as well as stakeholder consultations, resource mobilisation, monitoring and evaluation.

The ministry will facilitate access to eligible beneficiaries, coordinate relevant humanitarian and social protection programmes, engage government institutions and stakeholders, and provide policy guidance.

BoA, on its part, will provide financing solutions, financial inclusion initiatives, value-chain financing, and technical and financial advisory support.

The federal government said the partnership would strengthen its shift towards a more coordinated, data-driven and outcome-focused approach to poverty reduction by linking vulnerable Nigerians with opportunities capable of improving their livelihoods and economic independence.