With Nigeria’s agri-finance space at a critical juncture, key stakeholders from the agriculture and finance industries gathered in Lagos today, 19 June 2025, for a high-level engagement hosted by the Foreign, Commonwealth and Development Office (FCDO)-funded Propcom+.
The convening brought together a diverse mix of actors, including agribusiness owners, commercial banks, development finance institutions, credit de-risking organisations, other development partners, and policy influencers. The goal was to foster meaningful dialogue, unlock investment opportunities, and build strategic partnerships that can drive sustainable growth in the agri-finance ecosystem.
Focused on exploring available opportunities in the larger financial markets, particularly from notable agri-friendly financiers and investors, the event also facilitated connections between agribusiness and financial sector actors. Additionally, the strategic event served as an opportunity for Propcom+ to launch an expression of interest for agribusiness partners who want to boost their investment readiness and leverage Propcom+’s support to facilitate their access to finance.
With 34.3% of the country’s population employed within the agricultural sector and contributing an average of 24% to the national GDP (NBS, 2024), agriculture is perhaps one of the most important sectors of development, boosting rural livelihoods and vital for food security. However, agricultural lending by commercial banks is among the lowest when compared to other sectors. The reason is not far-fetched. Financial institutions remain largely risk-averse, especially as the sector continues to confront rising incidences of climate shocks, insecurity and lack of collateral by business owners.
At the heart of the discussions is the urgent need to bridge this financing gap that continues to hinder the growth of small and medium-scale agribusinesses. Through targeted presentations by the commercial and development finance institutions on their available agri-finance products, and a response pitch by agribusinesses in the room, participants explored innovative financing models, risk mitigation strategies, and capacity-building tools that can empower agribusinesses to become investment-ready.
The event also emphasised the importance of strengthening internal systems and governance structures within agribusinesses. By improving operational efficiency and transparency, these businesses can better position themselves to attract funding and scale sustainably. This is where Propcom+ comes in. The programme is poised to support these businesses to boost their investment readiness by strengthening their internal systems and structures.
Propcom+ convened this event to encourage cross-sector collaboration, knowledge sharing, and the co-creation of solutions tailored to Nigeria’s unique agricultural landscape. The programme’s inclusive approach ensures that women, youth, and marginalised groups are also represented in the conversation, reinforcing its commitment to equitable and inclusive development. Of Propcom+’s 3.79 million targeted smallholders and small-scale entrepreneurs with increased incomes and enhanced climate resilience by 2030, 50% of these are expected to be women.
As Propcom+ and the Foreign, Commonwealth and Development Office (FCDO) continue to prioritise economic growth, job creation and mutual prosperity, initiatives like this are critical to unlocking the full potential of the agricultural sector. By aligning financial systems with agricultural needs, stakeholders are laying the groundwork for a more resilient, productive, and inclusive agri-finance ecosystem.
