Agribusiness small and medium-sized enterprises in Nigeria are stepping up efforts to gain better access to funding as development organisations introduce targeted programmes to tackle ongoing financing and capacity challenges in the sector.
A new capacity-building initiative spearheaded by the Enterprise Development Centre in partnership with the Small and Medium Enterprises Development Agency of Nigeria, the Alliance for a Green Revolution in Africa, and Kaduna Business School focused on improving the financial and managerial strength of agribusiness SMEs.
The programme featured a three-day bootcamp and pitch competition held in Lagos, where participants received intensive training aimed at enhancing investment readiness, operational efficiency, and access to capital.
Entrepreneurs were also trained in key areas such as business strategy, financial management, bookkeeping, and investment planning to help position their businesses for growth and external funding opportunities.
At the conclusion of the programme, eight agribusiness SMEs received grants of one million naira each to support expansion, alongside three months of advisory support from business development experts.
According to Stanley Ibeku, the initiative was designed to tackle both funding challenges and skill gaps that continue to hinder growth in the sector. He noted that many agribusinesses struggle to attract investment due to weak structures and poor financial management practices.
Also speaking, Nnenna Ugwu explained that participants were selected based on the viability of their business ideas and growth potential, with the programme aimed at refining their operations and improving their chances of securing funding.
One of the beneficiaries, Damilola Awojobi, said the training significantly improved her understanding of record keeping, cash flow management and investment planning, describing the experience as insightful.
Another participant, Dale Junaid, noted that the programme strengthened his knowledge of accessing finance and enhanced his ability to present investment proposals.
The initiative highlights ongoing efforts by development partners to strengthen Nigeria’s agribusiness sector by addressing long standing gaps in funding, capacity and investment readiness.
