FG Recommits To Affordable Finance For Youth-led Agribusiness

The Federal Government is expanding access to affordable finance for youth-led agribusinesses, as part of efforts to drive growth, productivity and food security in agricultural sector.

Minister of Agriculture and Food Security, Senator Abubakar Kyari, said increased youth participation remains critical to fast-tracking development across the value chain, boosting production, and revitalising agribusiness.

The minister spoke in Abuja during a courtesy visit by a United Nations delegation led by Assistant Secretary-general for Youth Affairs, Dr. Felipe Paullier.

Kyari said the government was prioritising young people through targeted policies aimed at strengthening financial inclusion, creating economic opportunities, and building an enabling environment for agribusiness to thrive.

He highlighted key initiatives, including the operationalisation of the National Agricultural Development Fund (NADF) and the N1.5 trillion recapitalisation of the Bank of Agriculture (BOA), describing them as among the largest agricultural financing interventions in the country.

He said, “These measures will expand access to affordable finance for youth-led agribusinesses,

Through targeted programmes such as mechanisation, access to finance, digital platforms and extension services, we are empowering a new generation of farmers to drive productivity and innovation in the sector”.

A statement by the ministry’s head of information department, Ezeaja Ikemefuna said the measures were designed to unlock funding for youth-driven enterprises, while complementary programmes in mechanisation, digital platforms, extension services, and access to finance would support a new generation of farmers.

The minister also cited the contributions of young Nigerian innovators such as Samson Ogbole, Femi Adekoya, Atinuke Lebile, and Azeez Salawu in advancing areas like soilless farming, drone technology, biofortified crops and agricultural ecosystem development.

In his remarks, Paullier said the United Nations Youth Office was established by the General Assembly to coordinate global advocacy and engagement on youth-related issues across member states. He noted that the office would support efforts to improve access to land, technology, information, and resources, while strengthening youth participation in policy processes.

Permanent Secretary in the ministry, Dr. Marcus Ogunbiyi, said the ongoing procurement of 2,000 tractors and over 9,000 agricultural implements represented the largest mechanisation drive in Nigeria’s history, aimed at boosting productivity and creating employment opportunities for young people in agribusiness.

“This is the largest mechanisation initiative in Nigeria’s history. This bold intervention will expand access to modern machinery, enhance productivity, and create new opportunities for youth in machinery operation, maintenance, and agribusiness services,” Ogunbiyi said.