The Bank of Agriculture (BOA), in partnership with Heifer International, has launched the Renewed Hope National Agricultural Mechanisation Programme aimed at boosting access to affordable mechanisation services and improving Nigeria’s tractor penetration rate.
The programme, designed to enhance agricultural productivity, will fund 2,000 tractors and 9,000 implements for youth and women agripreneurs across the country under a sustainable Pay-As-You-Go model.
According to BOA, the initiative will offer preventive maintenance and technical support through mechanisation hubs, digital tracking via IoT technology, and flexible repayment terms linked to usage and income generation.
Eligible participants include women in mechanisation, youth between the ages of 18 and 35, and registered mechanisation companies. The lease terms range from three to five years, with a 15 per cent interest rate and a 25 per cent down payment.
BOA said the project, co-developed with Heifer Nigeria, aligns with the Federal Government’s efforts to modernise the agricultural sector, create jobs, and strengthen food security.
Interested applicants are encouraged to apply online at https://boanig.com/namp before the November 10, 2025 deadline.
