The Bank of Agriculture (BOA), with support from the Africa Climate Foundation (ACF), is developing a new clean energy financing framework aimed at helping farmers access modern technologies that can improve productivity, reduce post-harvest losses, and address energy challenges across Nigeria’s agricultural sector.
The initiative is expected to support investments in critical agricultural infrastructure, including cold chain facilities, irrigation systems, mechanisation equipment, and electric powered transportation solutions. These technologies are designed to help farmers preserve produce, improve efficiency, and transport goods more effectively from farms to markets.
Speaking during a capacity-building workshop in Abuja, BOA’s Executive Director of Operations, Tosin Salami, said the programme forms part of the bank’s strategy to unlock climate finance and channel investments into energy-smart agricultural infrastructure. He noted that financing support could be provided through a mix of grants, loans, and interest free financing, depending on the nature of individual projects.
The bank also plans to collaborate with farmer cooperatives, aggregation companies, development finance institutions, and other stakeholders to ensure that the benefits of the programme reach farmers at the grassroots level.
According to BOA, one of the major objectives of the initiative is to tackle post-harvest losses, particularly for highly perishable agricultural products. The bank noted that investments in cold storage and other clean energy powered facilities could significantly reduce waste and improve food security.
Project lead and Head of the Clean Energy Delivery and Innovation Unit, Dr. Adnan Aminu, said the programme is designed to position BOA as a leading financier of clean energy solutions within agricultural value chains. He explained that the Africa Climate Foundation is supporting the development of financing frameworks, risk assessment tools, and operational guidelines that will enable the bank to expand lending for clean energy projects nationwide. The current phase of the programme is expected to conclude in July, after which the developed frameworks and implementation tools will be formally adopted by the bank to support wider deployment of clean energy financing solutions for farmers, cooperatives, and agribusinesses across the country.
