The Federal Ministry of Women Affairs and Social Development and the Bank of Agriculture (BOA) have signed an MoU to provide agricultural support and opportunities for three million women through the Women Agro-Value Expansion (WAVE) Programme.

The partnership seeks to expand women's access to finance, mechanisation and opportunities across Nigeria's agricultural value chain.

Speaking at the signing ceremony in Abuja on Tuesday, the Minister, Hajiya Imaan Sulaiman-Ibrahim, said the initiative aligned with President Bola Tinubu's Renewed Hope Agenda on food security and women's economic empowerment.

She said women already played vital roles in agriculture but lacked adequate access to finance and resources needed to expand their businesses.

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"This MoU with the Bank of Agriculture fills the critical financing gap confronting women in agriculture.

"Women are already farming, but many cannot scale because they lack access to finance and support.

"Access to finance will move women beyond smallholder farming into agro-entrepreneurship, creating agro-billionaires," she said.

The minister said the WAVE Programme would enable women to participate across the agricultural value chain, including mechanised farming, input supply, processing and other agribusiness opportunities.

According to her, the programme will also provide education, digital tools and other support systems to improve women's productivity and business success.

Sulaiman-Ibrahim said about 33,000 women had already indicated interest, while the Federal Government was targeting three million beneficiaries in the coming years.

She urged women across the country to embrace the initiative, saying their economic empowerment would strengthen families, communities and national development.

"Women are the solution. We must attract more women into agriculture and create opportunities that amplify the gains of this partnership," she said.

Earlier, Managing Director of BOA, Mr Ayo Sotinrin, said the bank was committed to expanding agricultural financing for women, who accounted for a significant proportion of its reliable loan beneficiaries.

He said the bank would support women through input financing, mechanisation and other interventions designed to improve productivity and incomes.

Sotinrin said farmers would access improved seeds and other inputs at subsidised interest rates to boost yields.

"Instead of one tonne per hectare, farmers can harvest up to five tonnes through improved seeds and better support. Raising productivity remains Nigeria's most pressing agricultural priority," he said.

He added that women would also access tractors at subsidised rates, with repayment spread over three to five years.

"A woman can acquire a tractor, provide services to farmers and repay gradually until she owns it outright.

"This strengthens the business case for women in mechanisation," he said.

Sotinrin said BOA would work with farmer aggregation companies and cooperatives to improve access to loans, ensure repayment and expand agricultural financing.

He expressed optimism that the programme would attract greater support from development partners and relevant government institutions.

Earlier, the ministry's Permanent Secretary, Esuabana Nko Asanye, said the MoU would help move women from subsistence farming to commercial agriculture.

She said the partnership would provide access to mechanisation, input financing, improved seeds, demonstration farms and agricultural knowledge.

She added that beneficiaries would also become tractor owners, operators, seed producers, input suppliers and agribusiness managers.

"The programme begins modestly but progressively empowers women to become financially independent," she said.

Asanye said the initiative would improve women's incomes, strengthen household livelihoods and boost national food production. (NAN)