Key Points
- Cross River State is seeking a financing partnership with the Bank of Agriculture to expand food production.
- Proposed interventions include hybrid seeds, tractor financing, mechanisation and agro-processing.
- The state wants to move farmers from subsistence production to commercial agriculture.
- BOA says its existing financing windows for women, youths and agricultural value chains can be adapted to the state.
- A joint technical team is expected to identify priority crops, develop financing instruments and set targets for production and job creation.
- The initiative is designed to support Governor Bassey Otu’s “People First” agenda.
Main Story
Cross River State is opening a new front in its drive for food security, with the state government engaging the Bank of Agriculture (BOA) on a financing framework aimed at increasing farm productivity, expanding mechanisation and reducing its dependence on food supplies from neighbouring states.
The discussions, held on Monday at the BOA headquarters in Abuja, brought together the state’s Commissioner for Special Duties and Intergovernmental Relations, Dodeye Arikpo, and the bank’s Managing Director, Ayo Sotinrin.
At the centre of the proposed partnership is a simple problem: Cross River has agricultural potential, but many of its farmers lack the capital, equipment, improved inputs and processing infrastructure required to turn that potential into large-scale food production.
Arikpo said the proposed collaboration would therefore move beyond conventional agricultural support by creating financing arrangements that enable farmers to produce more, process locally and access better markets.
“We cannot talk about food security without equipment, finance and markets. This collaboration is about giving farmers the tools to deliver,” he said.
According to the commissioner, the high cost of farm inputs, inadequate mechanisation and weak processing capacity have kept many farmers operating at subsistence level. This, he said, has contributed to the state’s reliance on food brought in from neighbouring states despite its significant agricultural resources.
“Our goal is to reverse that trend. We want Cross River to feed itself first, then supply the region,” Arikpo said.
From tractors to hybrid seeds
The proposed partnership covers several areas of the agricultural value chain, with mechanisation, improved seeds and agro-processing emerging as immediate priorities.
One proposal is a lease-to-own arrangement for tractors and farm implements, which could allow farmers and agricultural cooperatives to access machinery without bearing the full cost of purchasing equipment upfront.
The state is also seeking bulk procurement and distribution of certified hybrid seeds, potentially lowering input costs while improving yields.
Another major component is the proposed development of agro-processing clusters across Cross River’s 18 local government areas.
The emphasis on processing is significant because increasing farm output without adequate storage and processing capacity can leave farmers vulnerable to post-harvest losses and price crashes.
By connecting production with processing and markets, the state hopes to retain more value within the agricultural economy while creating opportunities beyond primary farming.
Women and youths take centre stage
The proposed financing framework is also expected to give priority to women and young people, groups that the state believes can play a greater role in transforming its agricultural economy.
Arikpo argued that bringing more youths and women into commercially viable agriculture could simultaneously address food insecurity and unemployment.
“If we get our young people and women into agriculture with the right support, we will solve unemployment and hunger at the same time,” he said.
The strategy could potentially extend beyond farming to include input supply, mechanisation services, transportation, processing, packaging and distribution, creating employment across the agricultural value chain.
BOA promises tailored financing
Responding to the proposal, BOA Managing Director Ayo Sotinrin said the bank already operates financing windows targeted at youths, women and agricultural value-chain operators and could adapt those products to Cross River’s priorities.
“The Bank of Agriculture is ready to align its products with Cross River’s agricultural priorities. We have done this in other states and we are willing to deepen it here,” Sotinrin said.
He identified farmer aggregation, priority value chains, market linkages and bankable project development as areas where the bank could provide financing and technical support.
The emphasis on aggregation could prove important because smallholder farmers often struggle to access formal financing individually due to limited collateral, inconsistent records and the relatively small scale of their operations.
Organising farmers into cooperatives or structured production groups can make it easier for lenders to assess borrowers, distribute inputs and monitor production.
Joint team to develop bankable projects
The immediate next step is the establishment of a joint technical team involving the state government and BOA.
The team is expected to meet within two weeks to identify priority crops and value chains, design suitable financing instruments, including single-digit interest loans, and map the requirements for mechanisation and processing hubs.
It will also establish measurable targets for yield improvement, job creation and agricultural output.
This approach is intended to ensure that the partnership does not remain at the level of political declarations but produces specific projects capable of attracting financing and being measured against clear outcomes.
The state government also plans to involve cooperatives and agro-industrialists in the implementation process, with Arikpo stressing the need to ensure that agricultural financing reaches genuine farmers rather than intermediaries.
The bigger food-security question
Cross River’s proposed partnership comes against the backdrop of Nigeria’s broader struggle with food inflation, high input costs, limited mechanisation and disruptions across agricultural supply chains.
For Cross River, the challenge is particularly interesting because the state has considerable agricultural potential but still imports food from other parts of the country to meet some of its consumption needs.
The state’s strategy is therefore not simply to increase the number of farmers but to build a more integrated agricultural economy in which farmers have access to inputs, machinery, finance, processing facilities and guaranteed markets.
If successfully implemented, the model could reduce post-harvest losses while allowing farmers to capture more value from their produce.
What’s Being Said
Dodeye Arikpo, Commissioner for Special Duties and Intergovernmental Relations
“This is not about politics. This is about food on the table. If farmers have finance and equipment, food prices will come down.”
Ayo Sotinrin, Managing Director, Bank of Agriculture
“The Bank of Agriculture is ready to align its products with Cross River’s agricultural priorities.”
What’s Next
The joint technical team is expected to develop the framework for the partnership, including identifying priority crops, financing mechanisms, mechanisation requirements and processing locations.
Particular attention is likely to be paid to crops with strong production and commercial potential in the state, including cassava, rice, plantain and palm oil.
The state will also need to establish effective monitoring mechanisms to ensure that subsidised financing, equipment and agricultural inputs reach farmers and are used for their intended purposes.
Bottom Line
Cross River’s engagement with BOA could mark a shift from agricultural support to agricultural financing and value-chain development.
The real test, however, will be implementation. If affordable finance can be combined with machinery, quality seeds, processing facilities and reliable markets, Cross River could move from producing mainly for subsistence to becoming a significant food supplier in the region.
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