Nigeria's Agriculture Bank Launches $200m Fund to Empower IDPs

News in Brief

-Nigeria's agriculture bank has set up a $200 million fund to empower Nigeria’s displaced and vulnerable populations through agricultural finance, training, and market access.​

-The initiative is expected to benefit over 3.5 million IDPs, aligning with both Nigeria's Renewed Hope Agenda and AU Agenda 2063.

The Bank of Agriculture (BoA) and the International Organisation for Migration (IOM) have launched a $200 million Livelihood Support Fund designed to transform the lives of internally displaced persons (IDPs) and migrants across Nigeria.

The initiative was launched with the signing of a Memorandum of Understanding by IOM’s Deputy Director General for Operations, Ugochi Daniels, and BoA’s Managing Director and Chief Executive Officer, Ayo Sotinrin, last week in Abuja. 

According to the two organisations, the fund aims to create inclusive economic opportunities and boost the productivity of rural communities battered by conflict and climate shocks.

Collaborative Investment in People and National Stability

Announcing the collaboration with the UN organisation, the bank's CEO described the initiative as 'an investment in people and national stability, not just access to finance.' He stated that the partnership unlocks productivity through people-centred investment. It will also enable the economic inclusion of migrants and, critically, positions displaced and vulnerable Nigerians as active contributors to rural development.

The newly established fund will provide vital access to agricultural finance, entrepreneurship training, and input support, targeting over 3.5 million IDPs nationwide. By linking migration management with development financing, the partnership seeks to move beyond emergency aid, fostering resilience and self-reliance in affected communities.

Speaking on behalf of IOM, Ugochi Daniels said that sustainable reintegration and community recovery are vital for long-term stability.

"By supporting livelihoods and financial inclusion, we can empower people to rebuild their lives and contribute to local economies," he added.

Daniels explained that this partnership reflects the shared commitment to advancing sustainable solutions for migrants and communities between both institutions.

“By linking migration management with development financing, we can create inclusive economic opportunities that empower people to rebuild their lives, contribute to local economies, and reduce aid dependency,” he said.

Targeting National and Continental Food Security Goals

The IOM–BoA partnership aligns with Nigeria’s Renewed Hope Agenda and AU Agenda 2063, complementing the country’s strategy to address displacement and food insecurity. 

Recent data shows that the majority of Nigeria’s displaced population remains in the northern and Middle Belt regions, where many have lost access to land and livelihoods due to violence and environmental shocks.

This deal comes shortly after the BoA announced a $1 billion agricultural intervention facility in partnership with Afreximbank and ongoing preparations for the National Food Security Fund, both aimed at strengthening Nigeria’s agricultural value chains and ensuring food security.

Development experts and UN officials have lauded the move as a potential model for merging humanitarian and development efforts, providing a scalable solution to rural poverty and displacement challenges in Nigeria.