Sterling Bank Rallies Africa To Reclaim Food Future

Sterling Bank Limited, a leading advocate for agricultural finance in Nigeria, has called on African nations to forge stronger partnerships, deploy catalytic financing, and ensure the practical implementation of policies to accelerate the continent’s agricultural transformation and achieve food security.

The call was made at the recently concluded 2025 Africa Agriculture Summit (ASA) in Abuja, an event hosted by Sterling Bank under the theme “Survival of the Greenest: Reclaiming Africa’s Food Destiny.”

The group head of Agric and Solid Mineral Finance at Sterling Bank, Olushola Obikanye, described the Summit as “a journey of ideas, conviction, and hope for Africa’s agricultural future.”

“The voices from across the continent have affirmed one truth: Africa’s narrative is being rewritten, not by chance, but by the courage, innovation, and resolve of people who refuse to accept limits,” Obikanye stated, underscoring the transformative power of collaboration highlighted by the discussions at ASA 2025.

A major highlight of the Summit was the federal government’s unveiling of the National Livestock Growth Acceleration Strategy, an ambitious plan to expand the country’s livestock industry from its current value of $32 billion to $74 billion by 2035. This initiative aims to diversify the economy and enhance national food security.

Announcing the plan, the minister of Livestock Development, Idi Mukhtar Maiha, urged financial institutions to establish dedicated livestock desks to increase funding for pastoralists and processors, thereby unlocking the sector’s full potential.

“If achieved, this target could significantly reduce Nigeria’s dependence on imported animal products, create millions of rural jobs, and position the country as a major player in Africa’s livestock market,” Maiha said.

The minister commended Sterling Bank for its leadership in agricultural finance and for providing a platform for critical dialogue, describing ASA as “a vital convening for shaping the continent’s agricultural destiny.”

Further demonstrating a commitment to agricultural development, the executive secretary of the National Agricultural Development Fund (NADF), Mohammed Ibrahim, unveiled a strategic on-lending partnership with Sterling Bank.

This collaboration is designed to de-risk agricultural lending, attract private capital, and channel funds into high-impact segments of the sector.

“Our partnership with Sterling demonstrates how catalytic finance can transform agriculture from a high-risk venture into a bankable, investor-friendly sector,” Ibrahim noted.

In a similar vein, the governor of Yobe State, Mai Mala Buni, represented by Garba Tahir Usman, permanent secretary, Ministry of Agriculture and Natural Resources, reaffirmed the state’s commitment to mechanised farming and rural empowerment.

Governor Buni emphasised the critical role of technology and innovation in unlocking Africa’s agricultural potential, urging stakeholders to “work together to advance technology-driven initiatives that will safeguard agricultural progress.”

This year’s Summit featured a rich lineup of panel discussions that explored themes central to Africa’s food systems transformation, including policies that enable a thriving agricultural future; unlocking innovative financing models for catalytic capital; the role of technology and green innovation in boosting productivity; the importance of women and youth inclusion, and sustainability-focused dialogues on climate adaptation and resilient food systems.

The event concluded with goodwill messages from key industry leaders, including Aminu Tukur, vice chairman, Noor Takaful; Mohammed Babangida, chairman, Bank of Agriculture; and Olasunkanmi Owoyemi, managing director, Sunbeth Global Concepts.