Beyond Access to Finance: GP AgFin's Legacy of Transforming the Agricultural Finance Sector in Nigerian States 

Across Nigeria and much of sub-Saharan Africa, agriculture feeds families and drives local economies, yet financing to scale agri-based enterprises and farmer productivity lags behind the sector's real needs. After eight years of implementation in Nigeria, stakeholders in the financial sector, particularly farmers and agripreneurs who directly benefited from the German-funded Global Project Promotion of Agricultural Finance for Agri-based Enterprises in Rural Areas (GP AgFin), will continue to leverage improved financial literacy and business planning tools to enhance their credit readiness and repayment discipline, while financial institutions continue to scale farmer-centric products such as input finance linked to value chain production cycles and cash flows.

About GP AgFin  

GP AgFin was commissioned by the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH to serve as a bridge between the agricultural and financial sectors by providing demand-driven advisory services and facilitating improved access to suitable financial services. The project was implemented in 10 Nigerian states: Benue, Plateau, Nasarawa and the FCT in North Central; Kaduna, Kano and Kebbi in North West; and Cross River, Ogun and Oyo in the South. From January 2018 to October 2026, AgFin supported farmers and agribusinesses across maize, rice, cassava, potatoes (Irish potato), poultry and aquaculture value chains.

As of September 2026, GP AgFin not only achieved its goal but did so in a manner stakeholders described as exemplary, facilitating approximately ₦61 billion in finance for farmers and agripreneurs. Although many farmers and agri-based entrepreneurs wished the project would never end, its transformational impact gives them confidence that access to finance will no longer be an issue, as long as they maintain excellent creditworthiness and adequate documentation of their cash flows, as demonstrated during AgFin's implementation. The project strengthened both the demand and supply sides of the agricultural finance ecosystem, while embedding its knowledge and training tools in the curricula of three Federal Colleges of Agriculture so that students of agriculture-related courses gain not only technical skills but also the financial literacy and business planning capabilities needed to approach financial institutions to fund their ideas.

These lasting capacities have already translated into stronger product portfolios within partner financial institutions, higher loan volumes aligned with agricultural seasons, and measurable growth for rural enterprises, demonstrating that GP AgFin's impact goes far beyond short-term access to credit and leaves a systemic legacy for Nigeria's agricultural finance ecosystem.  

So What? The Problem AgFin Addressed  

AgFin’s objective was a response to a simple yet persistent problem: too many farmers and agri-based enterprises in rural Nigeria were hindered not by a lack of ambition or ability, but by a lack of access to appropriate financial services. Conventional financial products were rarely designed with the realities of smallholder agriculture in mind. Seasonal cash flows, informal collateral and the specific risks of farming were too often viewed as reasons for exclusion rather than challenges to address.

Similarly, many farmers and agri-based enterprises lacked practical financial literacy and documentation skills, making it hard to plan cash flows, separate capital from profits, compare financial products or demonstrate creditworthiness. The result was a persistent financing gap: viable agribusinesses stalled, promising processors couldn't scale, and women entrepreneurs in particular were sidelined despite strong repayment behaviour and market demand for their products.  

GP AgFin's Market-driven Transformative Approach  

AgFin transformed the financial sector ecosystem by making financial services more responsive to the actual business models of farmers and rural agri-enterprises, rather than asking farmers to conform to products never intended for them. At the project's initial stage, AgFin observed slow progress in necessary agricultural investments because farmers and agri-based entrepreneurs lacked access to, and knowledge of financial services that met their specific needs.

The project addressed this fundamental disconnect by working on both the demand side (farmers, agripreneurs, traders) and the supply side (banks and other financial institutions). It onboarded and signed memoranda of understanding with financial institutions, initially commercial banks and later microfinance banks and microfinance institution willing to work with the project. AgFin increasingly partnered with microfinance banks after recognising their strength in penetrating rural communities.

AgFin developed and deployed training manuals and practical tools such as Business Model Analysis (BMA), Agricultural Value Chain Finance (AVCF), the Agricultural Value Enterprise Canvas (AVEC), the Digitalisation Strategy Guide and the Inclusive Finance Product Design Guide to help financial institutions assess risks; understand business viability and investment needs; analyse value chain dynamics, including production cycles and cash flows; and structure appropriate financing. The project further strengthened financial institutions through technical assistance and staff training, linkages with farmer and agribusiness associations and the development of fit-for-purpose agricultural financial products.

“I would say that AgFin has helped me first as an individual, and it has helped my institution. The first engagement with AgFin was an institutional assessment, and we went through the onboarding process. When we were onboarded, the first major engagement was the training on AVCF and product development for myself and my staff.” – Mr Alex Tampi, MD / CEO Light Microfinance Bank,  

On the demand side, the project trained farmers and agripreneurs in financial literacy, recordkeeping and investment planning, and connected them with participating financial institutions offering formal financial services developed specifically for value chain actors, matching client needs with cash flows and production cycles. The project deployed training manuals and tools such as Agricultural Business Analysis and Investment Training (AgBAIT), the Farmer's Financial Cycle (FFC) and the Micro Agric-Enterprise Training (MAT) to train farmers, agri-based enterprises, groups and cooperatives.

The Transformation: Beyond Boundaries and Numbers  

Over the eight years of GP AgFin’s implementation in Nigeria, the project facilitated a market shift, from simply linking farmers to loans to reshaping how financial institutions understand and deliver agricultural finance. The project's core assumption proved right: you don't scale agri-finance by pouring in more money; you prepare people, products and institutions to interact effectively. Specifically, the project’s support led to the:

• Expansion of access to agricultural finance to 101,449 users: AgFin proved that when lending aligned with the real needs of farmers and agribusinesses, they became bankable. Through AgFin partner institutions, 101,449 users accessed adapted financial products and services, completing 150,300 transactions. €53.9 million (approximately ₦61 billion) was disbursed by partner institutions without AgFin's guarantees or subsidies.  
• Development of financial products that respond to agricultural realities: In collaboration with AgFin, seven financial institutions with MoUs developed and piloted 22 tailored financial products specifically targeting men, women and young farmers and agribusiness owners. AgFin's support helped banks move from generic credit to fit-for-purpose instruments built around cropping seasons and value chains. Nineteen (19) of the 22 designed products are now being accessed by customers of these institutions in and beyond AgFin's target states.  

“We have a product which we call Salam. Salam is actually used mainly for the production of goods and services. It is also used for farming. So, what Salam does is that it gives you an opportunity to provide inputs to the farmers, and then they pay you at harvest time with their goods and services.” - Nahimattu Abdullahi, Divisional Head, Jaiz Bank, Kano  

Thanks to GP AgFin's support in Nigeria, the old narrative "agriculture is too risky" is being redefined by data and evidence of repayment. Partner microfinance banks recorded repayment rates above 90%, backed by better business analysis, an understanding of customers' production cycles and pragmatic risk mitigation. AgFin's success is rooted as much in its investment in people as in products. On the demand side, 21,128 participants, comprising 16,006 farmers and 5,122 agribusiness managers, completed financial literacy modules (FFC, AgBAIT and MAT). The "inclusion by design" approach ensured that 53% of trainees were women and 39% were youth. On the supply side, 11 financial institutions were equipped to design agri-finance products, with seven of them developing 19 tailored products that now leverage digital delivery to reach clients efficiently.  

“When GIZ came, they introduced AgFin to us and asked about our financial statements, which we did not have. They told us about a training platform that could help us build that capacity. We welcomed the opportunity and they scheduled training in which we are beneficiaries.” - Godwin K. Gogwim, MD/CEO Jelneng Rice Mill.  

The Legacy: From Access to Institutionalization  

GP AgFin's legacy is embedded in people, curricula and systems. More than 12 training and financial institutions have adopted AgFin knowledge products as training materials, while over 40 trainers are certified on FFC, MAT, AgBAIT, AVCF and BMA, enabling independent scale-up beyond the project's life. FFC and MAT are now part of the training curricula in three Federal Colleges of Agriculture, including Akure, Kano, and Ibadan, preparing the next generation of agripreneurs to understand what it takes to build viable agribusinesses.  

Beyond boundaries and numbers, the transformation is this: farmers plan with confidence and evidence, women-led enterprises grow with purpose, and banks treat agriculture not as an exception but as a data-driven line of business. That is GP AgFin's enduring legacy - an agricultural finance market in Nigerian states that is prepared for finance and ready to keep expanding.

More about GP AgFin 

Author: Ayodele Adesanmi, Communication Advisor