The National Agricultural Development Fund (NADF) has signed a tripartite Memorandum of Understanding with IDH and the Bank of Agriculture (BOA) to improve access to affordable finance for youth, particularly young women, involved in the Women in Sourcing and Enterprise (WISE) program in Nigeria’s cassava value chain. The agreement, formalised during the WISE program kick-off event in Lagos, aims to strengthen inclusive finance and support sustainable agribusiness development across the country.
IDH, a global organisation focused on transforming markets, highlighted the partnership as a crucial step in addressing one of the biggest challenges facing young agripreneurs: limited access to finance. Daan Wensing, IDH’s CEO, explained that the collaboration will create new opportunities for youth and women to participate meaningfully across the cassava value chain, overcoming barriers such as high interest rates, insufficient collateral, and a lack of tailored financial products.
Ayodeji Sotinrin, managing director of BOA, emphasised the bank’s commitment to inclusive agricultural financing, noting that the initiative goes beyond primary production to support the entire value chain from farm to table. NADF, represented by Abdullahi Imam, head of Debt Investment, highlighted the potential for broader impact and expressed hope that the model could be replicated for other key crops, including maize, rice, and soybeans.
The partnership will also operate under the Nigerian Food Systems Transformation Alliance, coordinating interventions to enhance food security, strengthen local sourcing, and create sustainable agribusiness jobs for youth and women. By combining IDH’s convening power, BOA’s co-financing and lending capacity, and NADF’s financing and liquidity support, the initiative aims to close financing gaps, reinforce value chains, and drive inclusive growth in Nigeria’s agricultural sector.
As part of the collaboration, the three organisations will facilitate agricultural credit, co-develop a Seed Capital Facility, and implement mechanisms that enable agribusiness SMEs and smallholder farmers to access blended and affordable financing. The initiative aligns with IDH’s global mission of promoting resilient markets, better employment opportunities, and sustainable livelihoods for youth and women across Nigeria.
