The Managing Director/Chief Executive Officer of First Trustees Limited, Ereifemi Akeredolu, has emphasized that sustainable growth in Nigeria's agricultural sector requires more than funding. She made this statement at the maiden Commercial Trust Colloquium organised by First Trustees Limited, a subsidiary of FirstHoldCo Plc, in Lagos. The event brought together stakeholders from the public and private sectors to discuss financing options for the agricultural sector.
Akeredolu noted that the availability of capital alone is not sufficient to guarantee sustainable growth in the agricultural sector. She stressed that investors are more likely to commit funds when risks are properly understood and the structures surrounding transactions are reliable. According to her, clear responsibilities, sound governance, and proper risk allocation are essential for sustainable growth.
The colloquium, themed "Beyond Intervention Funds: Building Sustainable Financing Models for Nigerian Agriculture," focused on financing models beyond government intervention funds. Participants examined issues around agricultural value chains, risk allocation, productivity, and private-sector investment. They also considered ways of developing financing structures that could attract long-term private capital to viable businesses across the agricultural value chain.
Akeredolu highlighted the role of trust institutions in establishing accountability, protecting the interests of parties involved in transactions, and ensuring that agreed obligations are fulfilled. She said such functions could help create structures capable of supporting long-term investment in agriculture. This, she believes, can help address the challenge of access to sustainable financing for businesses operating in the sector.
Agriculture remains a major contributor to Nigeria's food supply, employment, and industrial activities. However, access to sustainable financing remains a key challenge for businesses operating across the sector. The event featured the unveiling of an upgraded digital platform by First Trustees, which the company said would digitise some of its trust-service processes and reduce paperwork and documentation requirements.
The discussions at the colloquium aimed to develop financing structures that could attract long-term private capital to viable businesses across the agricultural value chain. Stakeholders from the public and private sectors participated in the event, which was organised by First Trustees Limited. The company's efforts to promote sustainable financing models for the agricultural sector are seen as a step towards addressing the sector's financing challenges.
The Managing Director/Chief Executive Officer of First Trustees Limited, Ereifemi Akeredolu, has called for stronger governance in farm financing. She believes that this can be achieved through clear responsibilities, sound governance, and proper risk allocation. With sustainable financing models, the agricultural sector can attract long-term private capital and achieve sustainable growth.
Key points
- Sustainable growth in Nigeria's agricultural sector requires clear responsibilities, sound governance, and proper risk allocation.
- Access to sustainable financing remains a key challenge for businesses operating in the agricultural sector.
- Trust institutions can play a role in establishing accountability and protecting the interests of parties involved in transactions.
