DalaHill Law Practice (DalaHill) has signed a Mutual Accountability Framework with Bank of Agriculture (BoA) under African Climate Foundation–Funded Climate Finance Initiative.
The agreement was signed under a Mutual Accountability Framework (MAF), marking a milestone in the launch of an African Climate Foundation (ACF)–funded climate finance initiative valued at US$100,000, aimed at advancing climate-aligned agricultural finance in Nigeria. The signing took place during a kickoff ceremony held at the BoA Abuja Office.
The ACF grant will support BOA’s institutional transition towards climate-aligned agricultural finance through the establishment of a Clean Energy Delivery and Innovation Unit (CEDIU), a dedicated function designed to integrate climate risk, environmental data, and sustainability considerations into the Bank’s strategy, operations, and investment decision-making. The initiative will also support the development of Clean Energy Access Systems and Climate Finance Development Frameworks, and a pipeline of bankable, climate-aligned agricultural projects capable of attracting domestic and international financing into the sector to support efforts at bridging the $247.3 billion financing gap needed for Nigeria’s green energy transition.
The Mutual Accountability Framework was signed by BoA Managing Director, Mr. Ayo Sotinrin, and Mr. Mohammed Hamza, Managing Associate at DalaHill, formalising the roles, responsibilities, and shared commitments of both institutions in delivering the project. The ceremony brought together key stakeholders, including Zira John Quaghe, Deputy Head of Programmes at the African Climate Foundation (ACF), the DalaHill Technical Delivery Team, and the BOA leadership and technical team, underscoring strong institutional alignment around the project’s objectives.
Speaking on behalf of DalaHill, Mohammed Hamza described the initiative as a pivotal intervention within Nigeria’s agricultural and climate finance landscape. He emphasized DalaHill’s role as a trusted advisor, working with institutions to deliver catalytic and transformative solutions. He noted that DalaHill brings a multidisciplinary technical team to support BoA’s transition into a climate-aligned institution capable of attracting finance for scalable, investment-ready agricultural projects. Zira John Quaghe highlighted the significance of the initiative, noting that “While ACF has traditionally focused on renewable energy, climate alignment within the agricultural sector is most important to drive Nigeria’s decarbonisation,” while noting that “the project represents ACF’s first climate finance grant promoting Agriculture in Nigeria, underscoring its strategic importance.”
In his remarks, BoA Managing Director, Mr. Ayo Sotinrin, expressed gratitude to the project partners and acknowledged longstanding gaps within the agricultural finance ecosystem. He reaffirmed BOA’s institutional commitment to driving systemic change by attracting climate aligned expertise, strategic funding, and the right level of national and international attention to the sector. Mr. Sotinrin further noted that “the initiative aligns with the Federal Government’s climate and sustainability agenda, referencing Nigeria’s participation at the ongoing global climate sustainability conference in Abu Dhabi.
“This highlights strong government support for BoA’s transformation, including the President’s approval in October 2024 of a US$1 billion recapitalisation plan, positioning the Bank to play a more impactful role in national development,”
The kickoff ceremony and signing of the Mutual Accountability Framework marked a shared commitment by all partners to collaborate closely in strengthening Nigeria’s agricultural finance ecosystem and advancing climate-resilient development.
GALLERY
