The National Agricultural Development Fund has signed a tripartite Memorandum of Understanding with IDH and the Bank of Agriculture to unlock access to affordable finance for youth, particularly young women participating in the Women in Sourcing and Enterprise Programme within the cassava value chain.
The MoU, signed during the WISE Programme Kick-Off event in Lagos, represents a strategic step toward strengthening inclusive finance and sustainable agribusiness development in Nigeria’s agricultural sector, according to a statement on Tuesday.
Access to affordable finance remains one of the biggest challenges faced by young women, smallholder farmers, and agribusiness SMEs in Nigeria. Limited collateral, high interest rates, and the absence of tailored financial products often restrict their ability to scale operations or invest in productivity-enhancing solutions.
Through this collaboration, the three institutions will leverage their respective strengths to facilitate agricultural credit, co-develop a Seed Capital Facility, and establish mechanisms that enable agribusiness SMEs and smallholder farmers to access affordable and blended financing options.
These efforts align with Nigeria’s broader objective of transforming its food systems, boosting agricultural productivity, and empowering youth and women to participate more equitably across the cassava sector.
As part of the partnership, IDH, BOA, and NADF will also work together under the Nigerian Food Systems Transformation Alliance, a joint platform designed to coordinate interventions that promote food security, strengthen local sourcing, and advance sustainable job creation through agribusiness.
Speaking at the signing ceremony, CEO of IDH, Daan Wensing, described the partnership as a critical step in addressing financing constraints hindering youth participation in agriculture. He said, “Access to finance remains one of the key barriers for young agripreneurs. With this collaboration, we are catalysing new opportunities that will enable them to participate meaningfully across the cassava value chain.”
Managing Director of the Bank of Agriculture, Ayodeji Sotinrin, reaffirmed the BOA’s commitment to supporting inclusive agricultural development. “At BOA, it is our duty to finance every farmer, leaving no one behind. This partnership goes beyond primary production, it is about financing the entire agricultural value chain, from the farm to the table,” he said.
Head of Debt Investment at NADF, Abdullahi Imam, who represented the Fund’s Executive Secretary, emphasised the strong alignment between the partners and the potential for broader impact.
“With IDH and BOA, this agreement establishes a foundation for accessible funding for young women and youth in the cassava value chain. It is a model we hope to replicate across other crops such as maize, rice, and soybeans to continue transforming livelihoods,” he stated.
By combining IDH’s convening power, BOA’s co-financing and on-lending capacity, and NADF’s financing and liquidity support, the partnership aims to close critical financing gaps, strengthen agricultural value chains, and accelerate inclusive economic growth.
The collaboration also supports IDH’s global mission of catalyzing private sector solutions for the Sustainable Development Goals, building resilient markets, creating better jobs, and expanding sustainable livelihoods for youth and women across Nigeria’s agricultural economy.
Overall, the tripartite MoU represents a significant step toward enabling women and youth agripreneurs to access the financial tools needed to grow their enterprises, improve productivity, and contribute meaningfully to national food security.
