Sterling Bank Limited, a prominent supporter of agricultural finance in Nigeria, has urged African countries to strengthen collaborations, utilize catalytic financing, and effectively implement policies to boost the continent’s agricultural transformation and ensure food security.
This appeal was made during the recently concluded 2025 Africa Agriculture Summit (ASA) held in Abuja, and organized by Sterling Bank under the theme: “Survival of the greenest: Reclaiming Africa’s food destiny.”
Group Head of Agriculture and Solid Mineral Finance at Sterling Bank, Olushola Obikanye, described the summit as “a journey of ideas, conviction, and hope for Africa’s agricultural future.
“The voices from across the continent have confirmed one truth: Africa’s story is being rewritten, not by chance, but through the courage, innovation, and determination of those who refuse to accept limitations.”
A key moment of the summit was the federal government’s introduction of the National Livestock Growth Acceleration Strategy, an ambitious initiative aimed at increasing the value of the country’s livestock industry from $32 billion to $74 billion by 2035.
The plan seeks to diversify the economy and improve national food security.
Minister of Livestock Development, Idi Maiha, encouraged financial institutions to set up specialized livestock desks to boost funding for pastoralists and processors, thereby unlocking the sector’s full potential.
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The minister praised Sterling Bank for its leadership in agricultural finance and for facilitating important discussions, calling ASA “a crucial gathering for shaping the continent’s agricultural future.”
Further demonstrating a commitment to agricultural advancement, the Executive Secretary of the National Agricultural Development Fund (NADF), Mohammed Ibrahim, announced a strategic partnership with Sterling Bank for on-lending.
This collaboration aims to reduce the risks associated with agricultural lending, attract private investment, and direct funds into impactful areas of the sector.
“Our partnership with Sterling illustrates how catalytic finance can transform agriculture from a high-risk endeavor into a viable, investor-friendly industry,” Ibrahim remarked.
