The All Farmers Association of Nigeria (AFAN), the umbrella group of Nigerian farmers, and African Holdings Corporation (AHC) have signed a Memorandum of Agreement (MoA) to usher in a new era of agricultural innovation powered by blockchain technology in the country.
Based on the terms of the partnership, AFAN’s membership base will transit into blockchain infrastructure, thereby enabling secure, transparent, and efficient management of agricultural data, transactions, and services nationwide.
Similarly, the pact, which aims to unlock new value for farmers by providing access to global markets, alternative financing models, and digital wealth creation opportunities, will also facilitate the launching of real-world asset (RWA) tokenization through the creation of blockchain tokens backed by agro commodities produced by Nigerian farmers.
According to the provisions of the MoA, every member of AFAN will be captured in a blockchain-powered registry, ensuring transparency, traceability, and inclusion in the digital economy, and also lead to the creation of asset-backed tokens tied to agricultural produce, allowing farmers to leverage their output as tradeable digital assets.
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In addition, the agreement will also create farmer-centered community tokens that empower cooperative engagement, localized transactions, and incentivized participation as well as provide farmers with access to insurance solutions to protect livelihoods, educational resources to build capacity, and geo-mapping and data analytics for precision agriculture.
Speaking during the agreement signing ceremony, the President of AFAN, Farouk Rabiu Mudi, enthused: “This partnership represents a bold step into the future for Nigerian farmers. By leveraging blockchain and tokenization, we are unlocking wealth for farmers, increasing efficiency, and ensuring that our agricultural sector is globally competitive.”
Similarly, in his remarks the Country Executive of African Holdings Corporation, Auwal Tahir Maude, said: “We are proud to partner with AFAN in this historic transformation. Through real-world asset tokenization and blockchain solutions, Nigerian farmers will not only participate in the digital economy but will also set a precedent for agricultural innovation across Africa.”
Analysts believe that the MoA will position AFAN and its members at a vantage point in the current global drive towards digital agriculture and opportunities for growth, resilience, and sustainability.
