TSF Brands N1.5 Trillion BoA Recapitalisation A Game Changer For Nigeria’s Agricultural Transformation

The Tinubu Stakeholders Forum (TSF) has lauded President Bola Tinubu for approving the ₦1.5 trillion recapitalisation of the Bank of Agriculture (BoA).

In a statement signed by its Chairman, Ahmad Sajoh, and Secretary, Danjuma Sada, the organization described the move as an unprecedented intervention.

The group stated: “This represents the largest single injection of capital into Nigeria’s agricultural financing and is a bold step toward achieving the Renewed Hope Agenda’s vision of food security, economic diversification, and inclusive prosperity.

“Agriculture remains Nigeria’s largest employer of labor, engaging over 36% of the workforce and contributing approximately 22% to the nation’s GDP. However, more than 80% of farmers are smallholders who face chronic challenges.

“These challenges include outdated farming methods, low mechanization (0.27 hp per hectare compared to the FAO’s recommended 1.5 hp), poor access to credit, and insufficient storage and processing facilities.

“The ₦1.5 trillion recapitalisation directly addresses these gaps by enabling BoA to extend affordable credit, finance mechanisation, and strengthen value chains.”

The group also provided insights into the anticipated impact of the recapitalised BoA.

“With this renewed funding, farmers will gain improved access to seedlings, fertilisers, irrigation systems, and post-harvest storage infrastructure.

“It will also promote the adoption of modern farming technologies in line with the National Agricultural Technology and Innovation Policy (NATIP), enhance agro-processing through Special Agro-Industrial Processing Zones, and reduce Nigeria’s heavy reliance on food imports, which cost the country over N3.35 trillion between 2016 and 2019.

“This intervention is expected to empower millions of youth and women entrepreneurs in the agricultural sector, unlocking new opportunities for agribusiness and rural industrialisation.

“In addition, the recapitalisation will help bridge Nigeria’s agricultural trade deficit, currently standing at over N689 billion, and position the country as a competitive player under the African Continental Free Trade Area (AfCFTA),” the statement continued.

TSF also urged implementation agencies to avoid the mistakes of past programs, particularly the Anchor Borrowers’ Scheme, where operators and beneficiaries sometimes treated the initiative as political compensation.

“As a result, the program achieved little, and fund recovery proved nearly impossible. This ₦1.5 trillion recapitalisation must instead serve as a catalyst for genuine progress rather than a political tool.

“We further urge all implementing agencies to prioritise transparency, efficiency, and measurable impact in deploying the funds. Special targets should be set for women and youth beneficiaries, while financing terms should be designed to improve access rather than create barriers.

“We also call for the integration of climate-smart practices to build resilience against environmental shocks and ensure sustainable growth.

“We encourage state governments, the private sector, and development partners to align their programs with this landmark initiative.

Together, we can translate the ₦1.5 trillion BoA recapitalisation into real economic gains—transforming livelihoods, boosting national food security, and solidifying Nigeria’s place as Africa’s agricultural powerhouse,” the statement concluded.