Stanbic IBTC Bank has reaffirmed its role as a reliable growth partner for Nigeria by pledging renewed investment in agriculture, with a special emphasis on boosting food production and reducing losses after harvest.
During this year’s Lagos Farm Fair 2025, organised by British American Tobacco Nigeria Foundation together with the Lagos State Ministry of Agriculture and Food Systems, Wole Adeniyi, Chief Executive of Stanbic IBTC, spoke about the bank’s commitment. He said: “At Stanbic IBTC, we recognise that agriculture’s potential lies in value addition and transforming raw products into high-quality goods.”
He further underlined that the bank intends to address the long-standing financing gap that many farmers and agribusinesses face. To this end, Stanbic IBTC is offering tailor-made agribusiness loans covering crop production, livestock, and equipment, with the goal of enabling farmers to scale up operations and reduce post-harvest losses.
In 2024, the bank supported over 2,000 SMEs via its Enterprise Academy, strengthening food supply chains and encouraging value addition. Adeniyi added: “Through these concerted efforts, Stanbic IBTC continues to be a catalyst for progress in Nigeria’s journey toward food security and economic prosperity.”
Also speaking at the event, Barr. Bimbola Salu-Hundeyin, Secretary to the Lagos State Government, emphasised the power of collaboration: “This year’s theme, Hand in Hand for Better Food and a Better Future, emphasises the urgent need for collaboration among governments, the private sector, development organisations, and communities, to transform agri-food systems, promote healthy diets, and safeguard our environment.”
She noted that despite its densely populated and space-limited geography, Lagos State remains committed to food self-sufficiency, citing its five-year Agricultural and Food Systems Roadmap targeting 40 percent food self-sufficiency by 2025.
By aligning its financial solutions with industry platforms such as the Farm Fair and engaging in strategic partnerships, Stanbic IBTC is helping to steer Nigeria’s agricultural sector toward greater resilience, higher productivity, and deeper value-chain integration. Through financing, capacity building, and supporting value addition, the bank is shifting agriculture beyond mere subsistence into a sector that can deliver sustainable economic returns.
Post-harvest losses in Nigeria cost the economy up to US $10 billion annually, while agriculture contributes around 24 percent of GDP. Stanbic IBTC’s investment in value-added agriculture and loss reduction can thus improve farmers’ incomes, curb import-dependency and support Nigeria’s economic diversification.
