The Bank of Agriculture (BOA) has secured a $200 million Livelihood Support Fund in partnership with the International Organization for Migration (IOM) to enhance economic resilience and provide sustainable livelihoods for displaced persons and migrants across Nigeria. The fund, formalized through a Memorandum of Understanding signed in Abuja, aligns with Nigeria’s national development priorities and the African Union’s Agenda 2063, which emphasize resilience, self‑reliance, and inclusive growth.
The initiative aims to address displacement, food insecurity, and rural poverty by empowering affected populations to take charge of their recovery. It seeks to promote economic inclusion among vulnerable groups, with a particular focus on migrants and displaced persons. BOA’s Managing Director and Chief Executive Officer, Ayo Sotinrin, described the partnership as an investment in people and national stability, calling it a crucial step in transforming the landscape of rural poverty. By unlocking productivity through people‑centered investment, the fund enables the economic inclusion of migrants and positions displaced and vulnerable Nigerians as active contributors to rural development and national economic stability.
IOM’s Deputy Director General for Operations, Ugochi Daniels, highlighted the shared commitment to advancing sustainable solutions for migrants and communities affected by displacement. By linking migration management with development financing, the initiative can create inclusive economic opportunities that empower people to rebuild their lives and contribute to local economies. It complements national strategies and aligns with the United Nations Sustainable Development Cooperation Framework (UNSDCF), offering a potential model for migration‑sensitive development financing across Africa.
With over 3.8 million Nigerians displaced, the fund provides hope for families trying to start over without land or income. Support will be delivered through farming, skills training, and enterprise development, helping displaced families rebuild their livelihoods and contribute to regional stability and resilience.
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