In a bid to propel Nigeria’s agriculture into the digital age, First City Monument Bank (FCMB), alongside the Dutch FMO and HeaveVentures, has concluded the 2025 FCMB AgriTech Hackathon 2025, a milestone effort aimed at accelerating innovation, sustainability, and digitisation across the country’s food-value chain.
The initiative brought together agritech hopefuls from across Nigeria, enabling them to pitch tech-driven solutions that tackle longstanding issues in agriculture, from food security challenges to inefficiencies in supply chains. As noted by FCMB’s Divisional Head for Agribusiness and Non-Oil Exports, Kudzai Gumunyu: “This hackathon reflects FCMB’s commitment to nurturing innovation and supporting the next generation of agritech entrepreneurs. By connecting startups to funding, mentorship, and markets, we are helping transform Nigeria’s agricultural sector into a digitally driven, globally competitive industry.”
Echoing that sentiment, HeaveVentures’ CEO, Abiodun Lawal, added: “This hackathon demonstrates the power of collaboration between financial institutions and the tech ecosystem. We are proud to see startups developing solutions that can redefine productivity, sustainability, and food security across Africa.”
This is not FCMB’s first foray into agritech. Earlier in 2025, the bank, together with FMO and HeaveVentures, introduced a ₦20 million AgriTech Investment Readiness Programme designed to prepare emerging agritech startups and SMEs for investment readiness. The programme supports grant funding, capacity building, and connects ventures with potential investors.
The founding logic behind these moves is clear: by combining capital, mentorship, and technology, Nigeria can revitalise a sector long weighed down by outdated practices, limited access to finance, and inefficiencies. Renewed focus on agritech in a country where agriculture remains a core pillar of livelihood and economic activity could drive transformation in rural economies, boost food production, and create new livelihoods.
By backing agritech innovation through hackathons and investment-readiness schemes, FCMB and its partners are helping to unlock Nigeria’s agricultural potential, supporting rural livelihoods, generating jobs, bolstering food security, and laying foundations for long-term GDP growth beyond oil.
