Elegbede Abiodun
… financial institutions have a critical role in supporting Nigeria’s smallholder-driven agricultural sector.
Stakeholders in Nigeria’s agriculture sector have called for stronger coordination across the value chain to boost productivity and enhance food security.
The call was made at the BusinessDay Future of Agriculture Conference held in Lagos, where participants examined challenges affecting agricultural inputs, financing, and infrastructure.
The conference, themed “From Seed to Feed: Strengthening Agricultural Inputs for Food Security,” brought together policymakers, agribusiness operators, financial institutions, and development partners.
Among attendees were Lagos State Commissioner for Agriculture and Food Systems, Abisola Olusanya, who represented Governor Babajide Sanwo-Olu; special adviser on Agriculture and Food Systems, Oluwarotimi Fashola; chief executive officer of Babban Gona, Kola Masha; and group chief executive officer of AFEX, Ayodeji Balogun, who delivered a keynote address on improving farmers’ access to quality inputs.
Speaking during a panel session, Divisional Head, Agribusiness and Non-Oil Export at First City Monument Bank, Kudzai Gumunyu, said financial institutions have a critical role in supporting Nigeria’s predominantly smallholder-driven agricultural sector.
He noted that smallholder farmers account for about 90 per cent of the country’s agricultural production, stressing the need for inclusive financing models tailored to their needs. He added that strengthening risk mitigation frameworks through structured guarantees and partnerships would help de-risk lending and improve access to capital.
Gumunyu said adopting a structured, value-chain-led approach would enhance outcomes across production, aggregation, and market access, ultimately improving food security.
Participants also highlighted the need to improve access to quality inputs, expand infrastructure, and deepen collaboration between public and private sector actors.
FCMB said it would continue to support agribusiness and non-oil exports through partnerships aimed at improving access to finance and building more resilient agricultural systems.
