Bank of Industry signs strategic partnership with RMRDC to foster Agric value-chain growth

Bank of Industry (BOI), Nigeria’s foremost Development finance institution and the Raw Materials Research and Development Council (RMRDC) have sealed a strategic partnership agreement to strengthen Nigeria’s agricultural value-chain and boost country’s Gross Domestic Product (GDP) value.

The agreement was formalised on Friday, April 17, 2026 with the signing of a Memorandum of Understanding (MoU) between both organisations.

The agreement was the culmination of extensive engagements between key stakeholders of both institutions and seeks to enhance the value addition of key agricultural commodities and raw materials, addressing challenges in critical areas such as value chain development, harvesting, postharvest losses, seedlings, cultivation, storage, processing, packaging, logistics, and marketing.

The initiative aligns with BOI’s mission to boost the Nigerian economy, entrench national goals of reducing post-harvest losses, drive promotion of import substitution, improve the nation’s GDP, enhance wealth sustainability through job creation, and foster entrepreneurship and industrial capacity in the country.

To ensure the sustainability of the MoU, BOI has established a Joint Steering Committee to oversee the implementation of the objectives which include: the development of a comprehensive strategy for minerals value-chain, agricultural value-chain development, covering seed development, cultivation, post-harvest management, processing, packaging, and market access, and facilitate the adoption and scaling of RMRDC’s locally developed machinery for raw materials value-chain development.