Business
Nigerian Lenders Fund Agro-Industry With N4.68tr In 2018-2022
As the Federal Government of Nigeria (FGN) and the government of the 36 states and FCT continue to seek ways out of the current national food crises, a recent report shows that Nigeria’s commercial banks gave N4.68 trillion as loans to the country’s agricultural industry from 2018-2022.
Titled “Commercial Bank Lending to the Nigerian Agricultural Industry 2018-2022,” the report was published by an Abuja-based firm, Alford Conferences Limited, as part of its preparation towards its event called Nigerian Food Surplus Summit.
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On the report, the Chief Executive Officer of Alford Conferences, Frederick Apeji, stated, “We advocate that Nigeria’s commercial banking sector should seek creative ways to increase the share of its loan portfolio devoted to growing the country’s agricultural industry in the years ahead, beyond the 5.03% that it gave to the industry during the period under review. More importantly, we also advocate that the government of the 36 states and FCT should deliberately work more closely with these commercial banks in order to attract appropriate funding for bankable businesses and projects across the agricultural value chains in their respective domains.
“The total five-year bank lending of N4.68 trillion given to the agricultural industry compares favourably with the N8.18 trillion internally generated revenue (IGR) that was raised collectively in these past five years by the FCT and the 36 states. This IGR figure is tracked annually by Alford Conferences Limited. Another figure worthy of comparison is the N1.12 trillion Anchor Borrowers Fund established by the Central Bank of Nigeria (CBN) in November 2015 to support small holder farmers (SHF) throughout the country.”
The CEO highlighted that the report studied only banks licensed by the Central Bank of Nigeria (CBN) to operate in Nigeria, and those who “had at least N1tr in loans and advances during the period under review (2018-2022)”.
According to Apeji, “We focused on those banks that hold the CBN license to operate either internationally or nationally to produce this report Amongst them (22 in all), we looked at the ones that had at least N1tr in loans and advances during the period under review (2018-2022), irrespective of how much they gave to the Nigerian agricultural industry. The 12 banks thus captured in this report are (in order of the size of their loan portfolio): Access Holdings Plc, Zenith Bank Plc, FBN Holdings Plc, United Bank for Africa Plc, Guaranty Trust Holding Company Plc, Fidelity Bank Plc, Ecobank Nigeria Limited, First City Monument Bank Plc, Stanbic IBTC Holdings Plc, Sterling Financial Holdings Company Plc, Union Bank of Nigeria Plc and Wema Bank Plc.”
Based on the report, Access Holdings was the biggest lender in Nigeria from January 1, 2018-December 31, 2022 (N17.386 trillion) and also the biggest lender to the country’s agricultural industry (N928.55 billion) during this period. Zenith Bank was the 2nd biggest lender in Nigeria (N14.278 trillion), and also the 2nd biggest lender to the country’s agricultural industry (N873.36 billion). FBN Holdings, the 3rd biggest lender in Nigeria with N12.411 trillion, however ranked 7th among the 12 banks in this report based on its total loans of N285.18 billion to the agriculture.
The report further indicated that Ecobank Nigeria gave the highest percentage of its total loans of N4.68 trillion to the agricultural industry. This stood at N574.69 billion, representing 12.28%. Sterling Bank and FCMB Group ranked 2nd and 3rd respectively in terms of their percentage commitment to supporting the Nigerian agricultural industry these past five years. Though small players in the banking industry, they gave 8.19% and 7.58% respectively to agriculture, historically the biggest employer of labour in this country. The three other banks that performed better than the industry average of 5.03% in agricultural lending during this period were Zenith Bank (6.12%), Access Holdings (5.4%) and Stanbic IBTC Holdings Plc (5.33%).
Established in April 2014, Alford Conferences Limited, the convener of the annual Nigeria Food Surplus Summit, is an event production company and a consulting firm that advises the Nigerian and African public sector on subnational revenue generation, agribusiness development, export promotion, strategic investment promotion, host country/host city marketing, pan-African trade, etc.
The forthcoming Nigeria Food Surplus Summit is a nationwide advocacy that seeks to help Nigeria to successfully feed itself and have a large surplus for export by strengthening the commercial farming, food processing, and agricultural machinery segments of the country’s agricultural industry. For decades, up till this present moment, the burden of feeding this country of over 220 million people has rested largely on the shoulders of its millions of smallholder farmers. The summit seeks to strongly complement this by deliberately promoting and boosting commercial farming, food processing, and the production of agricultural machinery on a large scale in each of the 36 states and FCT, partnering actively with their respective ministry of agriculture.
Business
NNPC Foundation Wins CSR Champion Award (Health)
The NNPC Foundation Limited/Gte, the Corporate Social Responsibility (CSR) arm of the Nigerian National Petroleum Company Limited (NNPC Ltd), has won the CSR Champion Award (Health) 2025 instituted by the Independent Newspapers.
Biztellers reports that the award was presented during the Silver Jubilee edition of the Independent Newspapers Awards, themed “Game Changers: Breaking Barriers and Shaping Tomorrow,” held at Eko Hotel and Suites on Saturday, 18 April 2026.
The CSR Champion Award (Health) recognises the Foundation’s work in healthcare and its broader commitment to improving lives through social investment programmes spanning health, education, environment, and access to energy.Primary & Secondary Schooling (K-12)
The recognition follows a series of health initiatives delivered by the Foundation, including free cataract screening and surgeries that restored sight to over 6,000 Nigerians, including minors born blind; cancer and glaucoma interventions; medical outreaches to underserved communities; renovation and furnishing of three wards with 100 beds at the National Orthopaedic Hospital, Igbobi; partnership and sponsorship of heart surgeries; and provision of dental health accessories to children in special schools, among others.
The NNPC Foundation noted that these results were made possible through the leadership and support of the NNPC Ltd. Management team, whose commitment has continued to strengthen the Foundation’s capacity to deliver social investments across the country.
Reacting to the award, the Managing Director of NNPC Foundation, Emmanuella Arukwe, described the recognition as a validation of the Foundation’s work and the trust placed in it by Nigerians. She noted that the award means so much to the company because it represents the confidence Nigerians have placed in its work and the value they see in purposeful social investment.
“It speaks to the resilience of the communities we serve, the dedication of our team, and the strength of partnerships that have enabled us to do meaningful work in health, education, environmental sustainability and access to energy,” she added.
In addition, Arukwe noted that “these results have also been made possible through the leadership and support of the NNPC Ltd. Management team, whose backing has been instrumental to the success of the Foundation’s work. We receive this award with gratitude, and with a renewed sense of responsibility to do more and reach further across the country.”
The NNPC Foundation Limited/Gte remains committed to advancing health interventions that improve outcomes and contribute to national development.
Business
NNPC Ltd, Algeria’s Sonatrach Ink MoU for Research, Innovation
The Nigerian National Petroleum Company Limited (NNPC Ltd), through its Research, Technology and Innovation (RTI) Division, in collaboration with the Petroleum Technology Development Fund (PTDF), has signed a Memorandum of Understanding (MoU) with Sonatrach, the Algerian National Oil Company, for cooperation in research, development, and innovation.
The agreement, signed by NNPC Ltd’s Executive Vice President, Business Services, Sophia Mbakwe, and Sonatrach’s Managing Director, Khodjah Mohamed, establishes a formal framework for joint work in research and technology exchange between the two national oil companies.
This was contained in the press statement issued on Thursday by Chief Corporate Communications Officer Mr. Andy Odeh.
According to the statement, the agreement, held during the opening ceremony of the 3rd Meeting of the African Petroleum Producers’ Organization (APPO) Forum for R&D Directors at the PTDF Tower in Abuja, Nigeria, brought together research and development directors from APPO member countries.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, represented by former Secretary General of APPO, Omar Farouk Ibrahim, said the forum was one of four measures introduced by APPO to address challenges from the global energy transition, which center on funding, technology, and markets.
“The R&D forum tackles technology and expertise needs, the African Energy Bank addresses funding constraints, and the Central African Pipeline System supports regional oil and gas market integration,” Lokpobiri stated.
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Earlier in his remarks, Group Chief Executive Officer, NNPC Limited, Engr. Bashir Bayo Ojulari, represented by the Company’s Chief Financial Officer, Adedapo Segun, said research and development must form a central part of the overall strategy in the African oil and gas industry.
He called for research and development centres to function as engines of industrial competitiveness. “Collaboration in research and development is of strategic importance. The cost of innovation might be high, but the cost of obsolescence would be greater,” he stressed.
Ojulari called for a unified strategic framework through which resources could be pooled, data integrated, and risks shared across member countries.
He further urged the rapid adoption of digital technologies, artificial intelligence, and advanced engineering to improve upstream, midstream, and downstream operations.
On his part, the APPO Secretary General, Farid Ghezali, urged African petroleum-producing countries to ensure research in the oil and gas sector produced solutions that are practical and directly relevant to the continent. “We must ensure that our research delivers solutions that are practical and of direct use to Africa,” he stated.
Also speaking, the Executive Secretary of the Petroleum Technology Development Fund (PTDF), Prof. Shu’aibu Shehu Aliyu, highlighted the value of the partnership between NNPC Limited and PTDF in supporting decarbonization and environmental protection efforts across APPO member countries.
Chief Innovation Officer of NNPC Research, Technology and Innovation and incoming Chairman of the APPO R&D Directors Forum, Rasheed Ojulari, said the forum would give immediate priority to joint programs in the core areas of upstream optimization, artificial intelligence, decarbonisation processes, and industrial systems development.
Business
NGA Calls for Risk Reduction Policies to Lift Oil, Gas Industry
The Nigerian Gas Association (NGA), has opined that a predictable fiscal and regulatory environment are ingredients essential to de-risking investments and accelerating project delivery in the oil and gas sector.
This was detailed in a statement released by NGA at the end of its maiden Legal Forum emphasised that investor confidence will be shaped by the robustness of commercial and contractual structures across the gas value chain, strengthened contractual clarity, and efficient dispute resolution mechanisms.
In his opening address, President of the NGA, Aka Nwokedi, underscored the urgency of aligning Nigeria’s legal architecture with its strategic gas ambitions, noting that the sector’s next phase of growth will be defined by the strength, clarity, and credibility of its regulatory environment.
“Nigeria’s gas resources present a defining opportunity for economic transformation, but realising this potential will depend on building a legal framework that is transparent, predictable, and globally competitive”, he stated.
Discussions throughout the Forum reflected a clear and consistent theme: that Nigeria’s opportunity now lies in execution.
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While the Petroleum Industry Act (PIA) has established a transformative foundation for sector reform, participants emphasised that its true impact will be determined by disciplined implementation, regulatory coherence, and institutional alignment.
The need to eliminate ambiguity and strengthen enforcement emerged as central to unlocking sustained investment.
As global energy systems continue to evolve, the Forum reinforced natural gas as Nigeria’s most strategic lever for balancing economic growth, energy security, and emissions reduction. Participants highlighted that legal and regulatory frameworks must evolve accordingly, moving beyond policy intent to embed clear, enforceable standards on carbon management, ESG obligations, and sustainability.
“In an increasingly competitive global market, such clarity will be critical in attracting long-term capital.”
The Forum also acknowledged the policy direction of the administration of President Bola Ahmed Tinubu in advancing gas development through infrastructure expansion and increased domestic utilisation.
Stakeholders noted that sustained policy stability will serve as a critical signal to both domestic and international investors evaluating long-term opportunities in Nigeria’s gas sector.
Beyond its technical depth, the NGA Legal Forum marked an important step in bridging the longstanding gap between legal frameworks and industry realities, creating a structured platform for continuous engagement, practical alignment, and forward-looking policy development.





