First City Monument Bank (FCMB) has emphasised the need for stronger coordination across Nigeria’s agricultural value chain as a pathway to improving productivity and achieving food security.
This position was highlighted at the BusinessDay Future of Agriculture Conference held in Lagos, where stakeholders across the sector called for a more integrated approach to addressing longstanding challenges in agriculture.
The conference, themed “From Seed to Feed: Strengthening Agricultural Inputs for Food Security,” convened policymakers, agribusiness leaders, financial institutions, and development partners to examine constraints around input systems, financing, and infrastructure.
Among key participants were Abisola Olusanya, representing Governor Babajide Sanwo-Olu; Oluwarotimi Fashola; Kola Masha; and Ayodeji Balogun, who delivered a keynote on improving farmers’ access to quality inputs.
Speaking during a panel session, Kudzai Gumunyu, Divisional Head, Agribusiness and Non-Oil Export at FCMB, noted that financial institutions have a critical role to play in supporting Nigeria’s agriculture sector, which is largely driven by smallholder farmers.
He stressed that with smallholders accounting for nearly 90 per cent of agricultural production, there is a need for inclusive financing models tailored to their realities. According to him, strengthening risk mitigation frameworks through guarantees and partnerships can help de-risk lending while improving farmers’ access to capital.
Gumunyu advocated for a structured, value-chain-led financing approach, noting that aligning funding with production, aggregation, and market access would unlock productivity, boost yields, and enhance food security.
Discussions at the conference also underscored the importance of improving access to quality inputs, expanding rural infrastructure, and fostering stronger collaboration between public and private sector players.
FCMB reaffirmed its commitment to supporting agribusiness and non-oil exports through strategic partnerships aimed at improving access to finance and building a more resilient agricultural ecosystem in Nigeria.
