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2 clusters · 4 sources · 3 days · First seen · Last updated

Nigerian agricultural sector financing trends

Overview

Nigerian banks have significantly increased credit to the agricultural sector, with lending rising from approximately N1.46 trillion at the end of 2021 to N3.81 trillion by early 2026. Central Bank of Nigeria data indicates a steady quarterly growth during the first months of 2026, even as lending to the oil and gas sector contracted.

Despite this surge in financing, stakeholders have expressed concerns that increased funding has not yet resulted in higher productive capacity or food production. Reports suggest that aggregate public expenditure on agriculture remains at roughly 4.58 percent, failing to meet the 10 percent target established under the Comprehensive Africa Agriculture Development Programme.

Additional challenges identified include weak budget implementation at the state level and the possibility that rising nominal values in agricultural output are driven by inflation and commodity prices rather than physical growth.

Entities

Nigeria · Central Bank of Nigeria · Regius Capital Limited · ActionAid Nigeria · ECOWAS Commission

Timeline

  1. 11 days ago

    [BUSINESS] 3 sources
    Nigeria agricultural funding rises to N3.8 trillion amid production gaps

    Despite agricultural bank credit in Nigeria rising to N3.81 trillion by 2026, stakeholders warn that inadequate budget implementation and low public spending are hindering food security and production.

  2. 14 days ago

    [BUSINESS] 4 sources
    Nigerian banks increase agricultural credit to N3.86 trillion

    Nigerian banks increased agricultural credit to N3.86 trillion in Q1 2026, while lending to the oil and gas sector declined by N335 billion.

Sources

insidebusiness.ng · nairametrics.com · thisdaylive.com · tribuneonlineng.com