FCMB backs initiative to support 500,000 agribusinesses

The First City Monument Bank (FCMB) has thrown its weight behind a major initiative aimed at supporting 500,000 youth-led agribusinesses across Nigeria through improved access to land, financing, and enterprise development opportunities.

The initiative, known as the Youth in Agribusiness Land Trust Fund (YiALTF), was launched by the Federal Ministry of Youth Development in partnership with the International Institute for Tropical Agriculture (IITA) in Abuja.

Designed to address one of the biggest challenges facing young agripreneurs—access to land—the programme seeks to unlock opportunities for over 500,000 young Nigerians while promoting sustainable agriculture, job creation and economic growth.

SPONSOR AD

Speaking at the launch, the Minister of Youth Development, Ayodele Olawande, said the initiative represents a significant milestone in efforts to transform agriculture into a major platform for youth empowerment and wealth creation.

According to him, the Federal Government plans to train more than six million youths in the coming years and provide support for at least 500,000 youth-led agribusiness enterprises.

He noted that agriculture remains one of the most effective sectors for creating jobs, increasing food production and reducing poverty, but access to land has continued to limit the participation of many young people.

“Agriculture has the potential to create millions of jobs, improve food production, reduce poverty and accelerate economic growth. However, access to land remains one of the biggest barriers confronting young people today, and this initiative seeks to address that challenge,” he said.

The Minister of Budget and Economic Planning, Senator Atiku Bagudu, described the launch of the fund as a demonstration of Nigeria’s commitment to empowering young entrepreneurs and strengthening the agricultural sector.

He said the programme would help remove longstanding obstacles to land access and ownership, creating an enabling environment for youth-led agribusinesses to thrive.

Representing FCMB at the event, Kudzai Gumunyu, Divisional Head, Agribusiness and Non-Oil Export, reiterated the bank’s commitment to supporting initiatives that make agriculture more attractive, profitable and financeable for young people.

According to him, the future of Nigerian agriculture depends on building financing and support systems that align with the realities of young entrepreneurs and the evolving agricultural landscape.

He stressed that agriculture should be viewed as a modern, technology-driven business with opportunities extending beyond farming into logistics, processing, mechanisation, commodity trading, digital platforms and innovation.

Gumunyu noted that many young Nigerians possess the creativity, energy and technological skills needed to transform agriculture but often lack the collateral and financial structures required to access funding.

He highlighted FCMB’s AgTech Aggregator Programme as one of the bank’s initiatives aimed at encouraging innovation and supporting young entrepreneurs developing solutions across the agricultural value chain.

“The future of Nigerian agriculture is young, climate-smart, market-driven and innovation-enabled. To unlock its full potential, we must strengthen partnerships that improve access to finance, technical support, technology and market opportunities,” he said.

Also speaking at the event, the Director-General of the National Youth Service Corps (NYSC), Brigadier General Olakunle Oluseye Nafiu, commended the collaboration between government agencies, development institutions and private-sector partners.

He expressed confidence that the initiative would help develop a new generation of agripreneurs capable of driving agricultural transformation and enhancing food security across the country.

The Federal Ministry of Youth Development and IITA commended FCMB and other partners for their support towards advancing youth empowerment and agricultural development.

The launch attracted representatives from development agencies, donor organisations, state governments, financial institutions, youth groups, agribusiness stakeholders and members of the NYSC, all united by a shared vision of building a more inclusive and prosperous agricultural future for Nigeria.

UPDATE NEWS:

Nigerians can now invest ₦2.5 million on premium domains and profit about ₦17-₦25 million. All earnings paid in US Dollars. Rather than wonder, click here to find out how it works.