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ThriveAgric, Acorn-Rabobank sign MoU to provide carbon credit access to 30,000 farmers

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By Matthew Denis, Abuja

In a bid to mitigate climate change in Nigeria, a leading agricultural technology company called ThriveAgric has signed a Memorandum of Understanding (MoU) with Acorn Rabobank on Wednesday to facilitate the sequestration of 1.3 million Metric Tonnes of CRUs and generate over $50 million in carbon credit revenue for 30,000 smallholders farmers.

The project is committed towards achieving a sustainable agroforestry practices and carbon market development globally.

Speaking to Newsmen during an interview, the Chief Executive Officer of ThriveAgric, Mr. Uka Eje said “this initiative will enable over 30,000+ smallholder farmers with carbon credit access and general benefits of the adoption of agroforestry practices.”

Uka noted that the company’s mission to drive sustainable agriculture practices to provide adequate support for farmers and impact rural communities.

According to him, “the project seeks to enhance carbon sequestration, promote biodiversity, improve soil health, and provide economic benefits to local communities impacting smallholder farmers across 9 states in the country.”

The CEO revealed these states as Kaduna, Gombe, Adamawa, Taraba, Bauchi, Jigawa, Niger, Nassarawa, and Kano states thereby affording them the opportunity to receive additional income from carbon credit and other climate-smart benefits on the initiative.

“The farmlands of these farmers will be regenerated and climate change mitigated, thereby increasing crop productivity and reducing the impact of climate related shocks leading to amongst others post harvest losses.”

“Through partnerships like the one forged with Acorn – Rabobank, we are confident in our ability to drive positive change and create lasting impact in the lives of smallholder farmers across Nigeria.”

He emphasized that the partnership between ThriveAgric and Acorn – Rabobank aims to leverage their respective expertise and resources to implement innovative solutions that enhance the resilience and productivity of agricultural landscapes while promoting environmental stewardship and social inclusivity.

On her part, Marjolijn Hekelaar, ACORN – Rabobank representative stressed that the signing of the MoU will drive transformative change in the agricultural sector.

She said “At Acorn – Rabobank, we are committed to build lasting partnerships that enable the promotion of sustainable agroforestry practices and empower farming communities.

“Our partnership with ThriveAgric represents a shared commitment to harness the power of the voluntary Carbon Market to create value for both farmers and the environment. Together, we aim to unlock new opportunities for nature based solutions and sustainable development in Nigeria’s agricultural sector.”

The highlights of the programme was goodwill messages by key stakeholders, including policymakers, industry experts, investors, and agricultural practitioners had the opportunity to share
innovative ideas and best practices aimed at driving sustainable agriculture practices across these various touchpoints.

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