The International Organization for Migration (IOM) and the Bank of Agriculture Limited (BOA) of Nigeria have joined hands to improve the lives of migrants and displaced persons across the country.

Through a new Memorandum of Understanding (MoU), both institutions have agreed to establish a USD 200 million Agriculture and Livelihood Support Fund to create jobs, support small businesses, and help people rebuild their lives after conflict and displacement.

The agreement was signed by IOM’s Deputy Director General for Operations, Ugochi Daniels, and Managing Director and Chief Executive Officer of the Bank of Agriculture, Ayo Sotinrin, in Abuja.

Nigeria is home to more than 3.5 million internally displaced persons (IDPs) — families forced to leave their homes because of conflict, violence, and climate-related disasters. Many have lost their farms, jobs, and access to land.

The new fund aims to give them a second chance through access to sustainable agriculture, entrepreneurship, and financial support.

“This partnership reflects our shared commitment to advancing sustainable solutions for migrants and communities,” said DDG Daniels.

“By linking migration management with development financing, we can create inclusive opportunities that empower people to rebuild their lives, contribute to local economies, and reduce aid dependency.”

The fund will provide training, farming tools, access to credit, and market linkages to ensure that displaced people and their host communities can support themselves rather than depend on humanitarian aid.

The MoU represents a new way of tackling displacement — one that focuses on empowerment instead of charity. By combining IOM’s experience in migration and community resilience with BOA’s financial expertise, the partnership hopes to strengthen local economies and reduce migration pressures.

“The Bank of Agriculture, in executing the vision of the Presidency, views this fund as a crucial step in transforming the landscape of rural poverty,” said Ayo Sotinrin, the Managing Director and CEO of BOA.

“This partnership unlocks productivity through people-centred investments that enable the economic inclusion of migrants and vulnerable Nigerians.”

Through this fund, displaced persons will receive small loans and grants to start or grow businesses in agriculture and related value chains. It will also support youth and women-led enterprises that can create jobs within affected communities.

The IOM–BOA partnership is also designed to address the deeper reasons why people are forced to move — such as poverty, food insecurity, and lack of access to opportunities.

By promoting long-term recovery and inclusion, the fund will help break the cycle of dependence on aid. It aligns with Nigeria’s national development agenda, Agenda 2063 of the African Union, and the United Nations Sustainable Development Cooperation Framework (UNSDCF).

The project also supports the government’s Renewed Hope Agenda, which emphasises self-reliance and economic growth for vulnerable populations.

Many displaced persons in Nigeria come from the northern and northeastern regions, where years of insecurity and changing weather patterns have destroyed livelihoods.

By connecting farmers to local and national markets, it will also help communities recover from conflict and economic shocks. IOM officials say the project could serve as a model for other African countries facing similar challenges.

“This partnership bridges critical gaps and offers a strategic pathway for locally driven economic intervention,” said IOM in a statement.

The Agriculture and Livelihood Support Fund offers more than just financial help — it represents hope for millions who have lost everything.