Agribusiness emerged as the largest beneficiary of the Bank of Industry’s (BOI) N636bn credit disbursement in 2025, highlighting Nigeria’s intensified push to strengthen agriculture as a pillar of food security and economic growth.
The development finance institution allocated N202bn—about 32 per cent of total funding—to agribusiness, significantly surpassing other sectors. Infrastructure projects received N100bn, manufacturing secured N79bn, extractive industries obtained N77bn, while the services sector accounted for N55bn.
The record disbursement comes amid persistent global macroeconomic pressures that have widened financing gaps and increased demand for long-term, affordable credit. Analysts note that BOI’s relatively low-cost and longer-tenure funding made it particularly attractive to businesses during the period.
President Bola Tinubu commended the bank’s performance, describing it as evidence of expanding productive capacity and improved access to long-term capital for enterprises.
According to him, the financing supported agro-processing expansion, strengthened manufacturing output, enhanced infrastructure delivery, and empowered thousands of businesses nationwide.
The renewed emphasis on agricultural financing aligns with policy shifts at the Central Bank of Nigeria (CBN), which recently repositioned its Agricultural Credit Guarantee Scheme Fund following the discontinuation of the Anchor Borrowers’ Programme due to repayment challenges.
CBN Governor Olayemi Cardoso said the scheme remains a critical tool for modernising agricultural finance, stressing the need to improve accessibility and inclusiveness in credit delivery.
He noted that although agriculture contributes over one-fifth of Nigeria’s gross domestic product and employs nearly two-thirds of the workforce, the sector still receives less than five per cent of formal bank lending.
Recent economic indicators suggest the sector may be responding to increased financing support. Data from the National Bureau of Statistics show that agriculture grew by 2.82 per cent in the second quarter of 2025, marking a significant improvement from the 0.07 per cent recorded in the first quarter and slightly above the 2.6 per cent growth posted in the same period of the previous year.
Further evidence of sustained momentum came from the CBN’s Purchasing Managers’ Index, which placed the agriculture index at 54.2 points in January, indicating the eighteenth consecutive month of expansion.
Sub-indices for farming activities, new orders, employment, and raw material inventories also recorded strong growth, with livestock production posting the highest expansion among subsectors.
Economic experts say continued access to development finance will be crucial in boosting productivity, strengthening value chains, and reducing Nigeria’s vulnerability to food supply disruptions.
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