The BusinessDay Future of Agriculture Conference in Lagos brought together policymakers, agribusiness leaders, and financial institutions to address Nigeria's food security challenges. The event, themed "From Seed to Feed: Strengthening Agricultural Inputs for Food Security," highlighted systemic issues in input supply, financing, and infrastructure. Lagos State's Commissioner for Agriculture and Food Systems, Abisola Olusanya, represented Governor Babajide Sanwo-Olu, while Oluwarotimi Fashola, Special Adviser on Agriculture, also participated. Keynote speakers included Kola Masha of Babban Gona and Ayodeji Balogun of AFEX, who emphasized improving farmers' access to quality inputs. Kudzai Gumunyu, FCMB's Divisional Head for Agribusiness and Non-Oil Export, stressed the need for inclusive financing models, noting smallholder farmers produce nearly 90% of Nigeria's agricultural output. He argued for structured risk mitigation and partnerships to de-risk lending and ensure capital reaches farmers. FCMB pledged continued support for agribusiness through partnerships aimed at resilient agricultural systems.
FCMB's Kudzai Gumunyu zeroed in on smallholder farmers' dominance in Nigeria's agriculture. If financial institutions fail to adapt to their realities, food security will remain fragile despite policy efforts.
