By: Rukiyat Ogunwade and AbdulBasit Dosumu

No fewer than 99,331 smallholder farmers and agri-based enterprises have gained access to financial services under the Global Programme on Agricultural Finance (GP AgFin) Nigeria, as the Federal Government and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) concluded the eight-year intervention aimed at strengthening agricultural financing and food security.

The milestone was announced at the national close-out event of the programme in Ibadan, organised by GIZ on behalf of the German Federal Ministry for Economic Cooperation and Development in collaboration with the Federal Ministry of Agriculture and Food Security.

The programme, themed “Scaling Agriculture Finance in Nigeria: From Proven Models to Market Expansion,” brought together government officials, development partners, financial institutions, civil society organisations, academia and young agripreneurs to review the achievements of the intervention, which ran from 2018 to 2026.

Speaking at the event, the Head of Project, GP AgFin Nigeria, Ruskiyat Badmus, said the programme had transformed access to agricultural finance by addressing the longstanding disconnect between financial institutions and smallholder farmers.

According to her, the project was designed to tackle the barriers preventing farmers and agribusinesses from accessing formal credit, including inappropriate loan products, poor financial literacy and limited understanding of agricultural production cycles by financial institutions.

Badmus, further disclosed that the programme connected 99,331 farmers and agri-based enterprises to formal financial services, surpassing its target by 173 per cent. She added that the intervention mobilised €52.9 million in agricultural loans, recorded 148,265 financial service utilisations representing 198 per cent of its target and trained 21,128 farmers and agribusiness managers.

She further added that  23 agricultural financial products, including 22 with digital solutions, were developed or adapted and permanently integrated into the operations of participating financial institutions.

Highlighting the programme’s impact in Southwest Nigeria, Badmus said dedicated financial products were developed for cassava processors and catfish farmers, while the Farmers’ Financial Cycle training was translated into Yoruba, including audio learning modules, to improve financial literacy among rural communities.

She urged young Nigerians to embrace agriculture as a profitable business driven by innovation, technology and entrepreneurship rather than viewing it as subsistence farming.

“When we started this programme in 2018, we realised that the challenge was not that banks were unwilling to lend to farmers. The problem was that financial products were not designed to reflect agricultural realities. Farmers also lacked the financial literacy and record-keeping skills required by lenders. We worked to bridge these gaps from both sides.

“The products we developed are no longer pilot initiatives. They have become permanent offerings because they are commercially viable. That is one of the strongest indicators that this programme has achieved sustainable impact,” she stated.

Representing the Ogun State Government, the Special Assistant to Governor Dapo Abiodun on Agriculture, Dr Angel Kuye, described the programme as a strategic partnership that complemented the state’s agricultural transformation agenda.

She said the intervention strengthened access to finance for fish farmers, cassava processors and other agribusiness operators while helping financial institutions develop a better understanding of agricultural lending.

Kuye disclosed that Ogun State had leveraged the programme to support thousands of farmers through initiatives such as the Ogun State Economic Transformation Project and blended financing arrangements with partner financial institutions.

Also speaking, the Permanent Secretary, Ondo State Ministry of Agriculture and Forestry, Mrs Foluke Daramola, commended GIZ and its partners for expanding access to finance for smallholder farmers, women and youths.

She said the intervention had contributed significantly to food security, rural economic development and climate-smart agriculture, while urging development partners to consider a second phase of the programme.

Similarly, the Rector, Federal  College of Agriculture, Ibadan,Professor Jeremiah Atungwu who was

represented by Dr Mrs Bukola Fato said the project had strengthened agricultural finance education by integrating the Farmers’ Financial Circle into the institution’s curriculum.

According to the institution, about 1,000 students have been equipped with practical skills in financial planning, budgeting, savings, agricultural insurance and responsible access to finance, while several youth-focused initiatives have been introduced to promote entrepreneurship and agribusiness development.