Stakeholders push coordinated action to strengthen food security

Stakeholders across Nigeria’s agriculture 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.

Participants 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.

During a panel session at 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 said 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.”

Discussions 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.

Arinze Nwafor is a journalist at Punch Newspapers with five years of experience reporting on Nigeria’s economy, industry, data, metro, and judiciary. He focuses on highlighting growth, policy, and market challenges shaping Africa’s largest economy. Arinze’s reporting reflects practical newsroom experience, editorial judgment, and a strong commitment to accurate, informative, and audience-focused journalism.