The Bank of Agriculture (BoA) has signed a $100,000 climate finance agreement with DalaHill Law Practice to strengthen its response to climate risks in Nigeria’s agricultural sector, under a new initiative supported by the African Climate Foundation and formalised at a kickoff ceremony in Abuja.
The agreement, formalised through a Mutual Accountability Framework, sets out the obligations, responsibilities, and shared commitments that will guide the implementation of the climate finance programme. The document was signed by the Managing Director of BoA, Ayo Sotinrin, and DalaHill’s Managing Associate, Mohammed Hamza.
The project seeks to reposition the Bank of Agriculture to better respond to climate risks and sustainability demands within the agricultural finance space. A major part of the initiative is the creation of a Clean Energy Delivery and Innovation Unit, which will serve as a dedicated structure for embedding environmental data, climate risk assessment, and sustainability principles into the bank’s policies, operations, and investment decisions.
In addition to institutional reforms, the programme will support the development of clean energy access systems and climate finance development frameworks. These efforts are expected to produce a pipeline of viable agricultural projects designed to attract both local and international investments into climate-aligned farming and agribusiness ventures.
Stakeholders say the initiative could contribute to narrowing Nigeria’s estimated 247.3 billion dollar financing gap for the country’s green energy transition. They note that the agriculture sector, which supports millions of Nigerians, remains one of the most vulnerable to climate shocks and therefore requires targeted financing solutions.
Speaking at the event, DalaHill’s Managing Associate, Mohammed Hamza, described the partnership as a timely intervention in Nigeria’s evolving climate and agricultural finance landscape. “This initiative comes at a crucial time when aligning agriculture with climate goals is key to our long-term sustainability,” he said.
Hamza added that DalaHill is providing advisory support through a multidisciplinary technical team to help BoA build the capacity required to structure scalable and investment-ready agricultural projects that meet global climate finance standards. He further explained that while climate funding has often focused on renewable energy, agriculture must not be left behind if Nigeria intends to meet its national transition targets.
He stated that the programme represents the first climate finance grant by the African Climate Foundation in Nigeria that places agriculture at its centre.
In his remarks, BoA Managing Director, Ayo Sotinrin, welcomed the partnership, acknowledging long-standing structural challenges affecting agricultural finance in the country. He said the initiative will help the bank attract specialised expertise, strategic funding, and stronger international attention to drive reforms.
Sotinrin also linked the project to the Federal Government’s wider climate and sustainability agenda, referencing Nigeria’s active participation at a global climate sustainability conference currently taking place in Abu Dhabi. He highlighted recent government support for the bank, including presidential approval granted in October 2024 for a one billion dollar recapitalisation programme to strengthen BoA’s development financing capacity.
