The National Agricultural Development Fund (NADF) has signed a tripartite Memorandum of Understanding (MoU) with IDH and the Bank of Agriculture (BOA) to improve access to affordable finance for youth, with a special focus on young women participating in the Women in Sourcing and Enterprise (WISE) Programme within Nigeria’s cassava value chain.

The MoU was signed during the WISE Programme Kick-Off event in Lagos on Tuesday and is viewed as a strategic move to strengthen inclusive finance and promote sustainable agribusiness development nationwide.

Access to affordable finance remains one of the biggest challenges for young women, smallholder farmers, and agribusiness SMEs in Nigeria. 

Limited collateral, high interest rates, and the lack of tailored financial products often prevent them from scaling operations or investing in productivity-enhancing technologies.

Through this collaboration, NADF, IDH, and BOA will leverage their combined expertise to facilitate agricultural credit for smallholder farmers and agribusiness SMEs, co-develop a Seed Capital Facility to support start-ups and growth-stage enterprises, and establish mechanisms that provide blended and affordable financing options tailored to the cassava value chain.

The initiative aligns with Nigeria’s broader objectives of transforming its food systems, boosting agricultural productivity, and creating opportunities for youth and women to participate equitably in the agribusiness sector.

As part of the partnership, the institutions will also collaborate through the Nigerian Food Systems Transformation Alliance, a platform that coordinates interventions to promote food security, strengthen local sourcing, and generate sustainable jobs in the agricultural sector.

Speaking at the signing ceremony, IDH CEO Daan Wensing 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.”

BOA Managing Director Ayodeji Sotinrin emphasised the bank’s commitment to 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.”

NADF Head of Debt Investment Abdullahi Imam, representing the Fund’s Executive Secretary, highlighted the broader impact potential, “With IDH and BOA, this agreement establishes a foundation for accessible funding for young women and youth in the cassava value chain. We hope to replicate this model across other crops such as maize, rice, and soybeans to continue transforming livelihoods.”

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 financing gaps, strengthen agricultural value chains, and accelerate inclusive economic growth.

The collaboration also supports IDH’s global mission of catalysing 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.

Source: Punch