IOM, Bank of Agriculture Seal $200m Pact to Empower Migrants and Displaced Nigerians
The International Organisation for Migration (IOM) and the Bank of Agriculture (BOA) have signed a landmark $200 million partnership to strengthen access to sustainable livelihoods for migrants and internally displaced persons (IDPs) across Nigeria.
In a joint statement on Thursday, both institutions said the Memorandum of Understanding (MoU) aims to tackle displacement, food insecurity, and rural poverty — while empowering vulnerable Nigerians to rebuild their lives through long-term, sustainable livelihood programmes.
Driving Recovery Through Sustainable Livelihoods
The agreement establishes a $200 million Agriculture and Livelihood Support Fund designed to improve the living conditions of displaced Nigerians.
Nigeria currently hosts over 3.5 million internally displaced persons, many of whom have lost access to land, employment, and income-generating opportunities.
According to IOM, the fund will serve as a catalyst for economic recovery, agricultural development, and self-reliance among affected communities, linking humanitarian support to development financing.
“By connecting migration management with development financing, we can create inclusive economic opportunities that empower people to rebuild their lives and contribute to local economies,” said Ugochi Daniels, IOM’s Deputy Director-General for Operations.
BOA: A Step Toward Reducing Rural Poverty
Mr. Ayo Sotinrin, Managing Director and Chief Executive Officer of the Bank of Agriculture, said the partnership represents a critical step in actualizing the Renewed Hope Agenda of the Federal Government.
“This partnership unlocks productivity through people-centred investment that enables economic inclusion of migrants,” Sotinrin said.
“It positions displaced and vulnerable Nigerians as active contributors to rural development, community resilience, and national economic stability.”
He added that the initiative aligns with Nigeria’s National Development Plan and the African Union’s Agenda 2063, both of which emphasize inclusive growth, agricultural transformation, and social stability.
Bridging Gaps in Humanitarian and Development Response
The IOM–BOA partnership bridges a longstanding gap between humanitarian assistance and sustainable development.
Under the MoU, the initiative will:
- Facilitate access to agricultural inputs and microfinance;
- Promote skills training and capacity development;
- Strengthen market linkages and financial inclusion; and
- Reduce aid dependency among IDPs, returnees, and host communities affected by conflict, climate shocks, and economic disruption.
The collaboration also positions Nigeria as a model for migration-responsive economic policy, leveraging agriculture as a tool for recovery, job creation, and resilience building.
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