The Director General of the Nigeria Agribusiness Group (NABG), Jafar Umaru, has revealed that access to finance remains one of the biggest challenges facing Nigeria’s agriculture sector, especially for smallholder farmers and agribusinesses.
During a roundtable hosted by AGRA (Alliance for a Green Revolution in Africa), attended by stakeholders to discuss the pressing issue of limited financial access for players in the agricultural sector, he highlighted that access to finance continues to slow down the progress of farmers and agribusiness operators across the country, from those cultivating on a few hectares to those running processing and distribution ventures.
According to him, fixing this bottleneck requires partnerships and policies that make financial services more accessible and more suited to agriculture’s unique risks.
He also stressed the need for targeted efforts to ensure that rural farmers, who often lack collateral or formal records, are not left behind.
Participants agreed that improving access to finance could open new doors for innovation, food security, and job creation in Nigeria’s agriculture sector.
They also noted that more flexible loan terms, farmer-friendly insurance, and public-private investment schemes could help reduce risks for both farmers and financial institutions.
Solving the financial challenge is critical for many Nigerians, particularly those in rural areas who depend on farming for their livelihoods. With agriculture contributing a major share to Nigeria’s economy, access to affordable funding is seen not just as a farming issue but as a national development priority.
The roundtable closed with a shared commitment to deepen collaboration between agriculture stakeholders and financial institutions to create systems that support the people growing the country’s food.
