The Managing Director and Chief Executive Officer of the Bank of Agriculture (BOA), Ayo Sotinrin, has called for stronger strategic partnerships and increased capital mobilisation to unlock Nigeria’s vast agricultural potential.
Sotinrin made the call at the Nigeria–United Kingdom Agriculture and Investment Forum held in London, where government officials, state governors, development finance institutions and industry leaders gathered to explore investment opportunities in Nigeria’s agricultural sector.
The forum, themed “Bridging the Gap: Financing Climate-Resilient Agriculture in Nigeria,” brought together key stakeholders, including the Minister of Agriculture and Food Security, Abubakar Kyari, and representatives of the UK government.
Sotinrin noted that Nigeria, with over 80 million hectares of arable land and a population exceeding 220 million, remains one of Africa’s most promising agricultural frontiers.
He, however, identified limited access to capital as a major constraint to unlocking the sector’s full potential.
According to him, the level of transformation required in mechanisation, irrigation, post-harvest infrastructure, climate-resilient technologies and digital agricultural services goes beyond the capacity of any single institution, stressing the need for strong, purpose-driven partnerships.
He also highlighted the growing global momentum for climate financing, noting that commitments to mobilise over $1.3 trillion annually for developing economies present significant opportunities for Nigeria’s agricultural sector.
Addressing UK investors, Sotinrin described the Nigeria–UK relationship as longstanding and mutually beneficial, urging stakeholders to align London’s capital, expertise and innovation with Nigeria’s agricultural opportunities.
“This is not charity. This is one of the most compelling investment frontiers in the world,” he said, emphasising the need for tangible outcomes such as signed agreements, increased capital flows, and strengthened food systems.
He expressed appreciation to co-conveners, including the African Business Roundtable, the National Agricultural Development Fund, and the National Agricultural Land Development Authority, as well as the Federal Government and other delegates for their commitment to advancing Nigeria’s agricultural transformation.
The Nigerian delegation at the forum included senior government officials, policymakers, and representatives of key agricultural and financial institutions, reflecting a broad commitment to driving the country’s agricultural transformation through international collaboration.
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