The Bank of Agriculture (BOA), in partnership with the International Organization for Migration (IOM), has launched a $200 million Livelihood Support Fund aimed at rebuilding the lives of displaced Nigerians and migrants across the country.
The initiative, formalized through a Memorandum of Understanding signed in Abuja, seeks to enhance economic resilience, tackle food insecurity, and reduce rural poverty.
According to Punch’s report, it aligns with Nigeria’s national development goals, the African Union’s Agenda 2063, and the United Nations Sustainable Development Cooperation Framework.
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BOA’s Managing Director, Ayo Sotinrin, described the partnership as “an investment in people and national stability,” noting that it will empower displaced Nigerians to become active contributors to rural and economic development under the Renewed Hope Agenda.
IOM’s Deputy Director General for Operations, Ugochi Daniels, highlighted that the collaboration bridges migration management with development financing, fostering self-reliance and reducing aid dependency.
With over 3.8 million Nigerians displaced, the $200 million fund will support livelihood programs in agriculture, skills development, and enterprise creation — providing a model for migration-sensitive development financing across Africa.
