FCMB supports plan to help 500,000 young farmers

The First City Monument Bank (FCMB) is backing a big plan to support 500,000 agribusinesses led by young people in Nigeria. This will be done by improving access to land, financing, and business development opportunities.

The initiative is called the Youth in Agribusiness Land Trust Fund (YiALTF). It was launched by the Federal Ministry of Youth Development in partnership with the International Institute for Tropical Agriculture (IITA) in Abuja.

This program aims to solve one of the biggest problems young farmers face, which is getting access to land. It seeks to create opportunities for over 500,000 young Nigerians while promoting sustainable farming, job creation, and economic growth.

At the launch, the Minister of Youth Development, Ayodele Olawande, said this initiative marks an important step in changing agriculture into a key way for young people to gain power and create wealth.

He mentioned that the Federal Government plans to train over six million youths in the coming years and support at least 500,000 youth-led agribusinesses. He stated that agriculture is one of the best sectors for creating jobs, increasing food production, and reducing poverty. But access to land still limits many young people's involvement.

"Agriculture has the potential to create millions of jobs, improve food production, reduce poverty and accelerate economic growth. But access to land is one of the biggest barriers young people face today. This initiative aims to tackle that issue," he said.

Senator Atiku Bagudu, the Minister of Budget and Economic Planning, described launching the fund as proof of Nigeria’s commitment to empowering young entrepreneurs and improving the agricultural sector.

He said this program would help break down long-standing barriers to land access and ownership. This will create a better environment for youth-led agribusinesses to succeed.

Kudzai Gumunyu, who represents FCMB at the event, is the Divisional Head for Agribusiness and Non-Oil Export. He reiterated the bank’s commitment to supporting plans that make agriculture more appealing, profitable, and easier to finance for young people.

He noted that the future of agriculture in Nigeria depends on building financing and support systems that fit the needs of young entrepreneurs and the changing agricultural scene.

He emphasized that agriculture should be seen as a modern business driven by technology. Opportunities extend beyond just farming to include logistics, processing, mechanization, commodity trading, digital platforms, and innovation.

Gumunyu pointed out that many young Nigerians have the creativity, energy, and technological skills to change agriculture. But they often lack the collateral and financial systems needed to get funding.

He highlighted FCMB’s AgTech Aggregator Programme as one of the bank’s efforts to encourage innovation and support young entrepreneurs creating solutions in the agricultural value chain.

"The future of Nigerian agriculture is young, climate-smart, market-driven, and innovation-enabled. To reach its full potential, we must build partnerships that improve access to finance, technical support, technology, and market opportunities," he said.

Brigadier General Olakunle Oluseye Nafiu, the Director-General of the National Youth Service Corps (NYSC), also spoke at the event. He praised the teamwork between government bodies, development organizations, and private-sector partners.

He is confident that this initiative will help create a new group of agripreneurs who can drive change in agriculture and improve food security across the country.

The Federal Ministry of Youth Development and IITA thanked FCMB and other partners for their help in promoting youth empowerment and agricultural growth.

The launch had many attendees from development agencies, donor organizations, state governments, banks, youth groups, agribusiness stakeholders, and NYSC members. They all share the same goal of building a more inclusive and successful agricultural future for Nigeria.