By Jide Akinseye
The concern on food security and eradication of food poverty has been a cause of worry by government and stakeholders in the country . Over the years concerted efforts have been put in place by government and relevant bodies at boosting Nigeria’s commitment to food security .
Recently, stakeholders across the country’s agricultural sector have called for stronger coordination across the value chain to improve productivity and food security at the BusinessDay Future of Agriculture Conference held in Lagos.
The conference, themed “From Seed to Feed: Strengthening Agricultural Inputs for Food Security,” brought together policymakers, agribusiness operators, financial institutions, and development partners to discuss constraints in input systems, financing, and infrastructure.
Drawn from various parts of the country participants also included 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 on improving farmers’ access to quality inputs to boost food production.
At the panel session during the conference, the Divisional Head, Agribusiness and Non-Oil Export at First City Monument Bank, Kudzai Gumunyu, said financial institutions have a central role in supporting Nigeria’s largely smallholder-driven agricultural sector.
“With smallholder farmers accounting for nearly 90% of Nigeria’s agricultural production, the focus must be on building inclusive financing models that address their unique realities,” he was quoted in a statement on Tuesday.
Gumunyu added, “This means strengthening risk mitigation frameworks through structured guarantees and partnerships that de-risk lending while ensuring farmers have access to the capital they need to grow.”
He also added that structured, value-chain-led approach would improve outcomes, benefiting production, aggregation, and market access.
“With smallholder farmers accounting for nearly 90% of Nigeria’s agricultural production, the focus must be on building inclusive financing models that address their unique realities,” he state.
“This means strengthening risk mitigation frameworks through structured guarantees and partnerships that de-risk lending while ensuring farmers have access to the capital they need to grow.” Gumunyu said.
He further stated that a structured, value-chain-led approach would improve outcomes, benefiting production, aggregation, and market access.
“Sustainable agricultural growth requires coordinated value chain mobilisation, where financial institutions effectively channel funds from depositors into well-structured agricultural value chains. By aligning financing with production, aggregation, and market access, we can unlock productivity, improve yields, and ultimately strengthen food security outcomes.” He added .
Discussants at the conference also focused on improving access to quality inputs, expanding infrastructure, and strengthening collaboration between public- and private-sector participants.
First City Monument Bank said it will continue to support agribusiness and non-oil exports through partnerships aimed at improving access to finance and building more resilient agricultural systems.
