The Bank of Agriculture (BOA) has officially opened its loan application portal for Nigerian farmers under the Renewed Hope National Agricultural Mechanisation Program, a federal initiative designed to boost mechanized farming and increase food production nationwide.
The program, launched in partnership with Heifer Nigeria, aims to provide financial access and mechanization support to smallholder farmers, youth, and women engaged in agriculture. The initiative aligns with the Federal Government’s Renewed Hope Agenda to improve food security, create jobs, and enhance productivity in the agricultural sector.
Contents
About the Loan Program
The new BOA loan scheme focuses on supporting farmers with affordable financing options to acquire and utilize modern farming equipment, including tractors and mechanized tools. The scheme will operate through a Pay-As-You-Go model, making it easier for farmers to access equipment and repay over time without financial pressure.
The partnership with Heifer Nigeria ensures the use of technology-driven solutions, digital monitoring, and transparent loan management to ensure efficiency and accountability throughout the process.
Key Features of the BOA Loan Program
- Loan Tenure: 3 to 5 years flexible repayment period
- Interest Rate: 15% per annum
- Down Payment: 25% of total financing
- Target Groups: Farmers, Youth (18–35 years), and Women in Agriculture
- Support Services: Preventive maintenance, mechanization hubs, and digital monitoring
These features are structured to make the program sustainable and beneficial to both small and large-scale farmers.
Eligibility Criteria
Applicants must:
- Be actively involved in farming or an agriculture-related enterprise
- Be a registered member of a cooperative or recognized farming association
- Have a verifiable means of identification
- Provide evidence of farmland or agricultural business operation
- Be between 18 and 60 years old
Special considerations will be given to women and youth applicants as part of the inclusiveness drive of the Renewed Hope Mechanisation Program.
How to Apply
Interested farmers are encouraged to submit their applications through the official Bank of Agriculture portal at
https://boaing.com/namp
Applicants are advised to fill out all required details correctly and submit before the application deadline of November 10, 2025. Successful candidates will be notified via email or SMS by the Bank of Agriculture.
Program Benefits
- Access to affordable mechanization loans
- Increased agricultural productivity and income
- Job creation for youth in mechanized farming
- Promotion of digital agriculture practices
- Strengthened food security across Nigeria
The Bank of Agriculture Loan Application for Farmers represents a major step toward transforming Nigeria’s agricultural landscape. By providing farmers with the financial means and mechanization tools they need, the program aims to achieve sustainable food production and economic empowerment across the country.
Farmers, youth, and women are therefore encouraged to take advantage of this opportunity by applying before the closing date.