Sterling Bank’s financing across five key sectors rose by 39 per cent to N331.7 billion in 2025, with agriculture recording one of the strongest increases, the bank has disclosed.
The sectors are covered under the bank’s HEART strategy, which focuses on Health, Education, Agriculture, Renewable Energy and Transportation.
Dele Faseemo, Group Executive, Corporate and Investment Banking at Sterling Bank, disclosed this at a press conference ahead of the ninth edition of Agriculture Summit Africa (ASA), scheduled for September 15 and 16, 2026, in Abuja.
The summit, themed ‘Building the Next Superpower: Africa’s Food Power Play,’ will bring together policymakers, investors, financial institutions, development partners and agribusiness leaders to discuss ways to strengthen Africa’s food systems.
Faseemo said agriculture remains a key part of the bank’s strategy, noting that Sterling is committed to supporting farmers, processors, off-takers and other businesses across the agricultural value chain.
Dr. Olushola Obikanye, Group Head, Agric Finance and Solid Minerals at Sterling Bank, said Africa’s agricultural sector presents a major economic opportunity.
He noted that Africa holds about 60 per cent of the world’s uncultivated arable land but still spends billions of dollars annually importing food that could be produced locally.
‘Food is jobs. Food is trade. Food is foreign exchange, industrial policy, climate resilience, and increasingly, geopolitical power,’ Obikanye said.
Stakeholders at the event identified inadequate financing, poor access to quality inputs, limited mechanisation, storage and logistics challenges, weak market access and high post-harvest losses as major obstacles to agricultural development.
Christian Mulamula, Principal Country Officer for Nigeria at the International Finance Corporation (IFC), said agricultural transformation must go beyond increasing production. He stressed the need for an ecosystem that provides farmers and agribusinesses with access to finance, technology, infrastructure, inputs and markets.
ASA 2026 is expected to feature high-level plenary sessions, deal-making meetings, innovation showcases and cross-border trade discussions aimed at converting agricultural opportunities into investments, businesses and jobs.
The summit is supported by several development finance institutions, government agencies, technology providers and private-sector organisations, including IFC, GIZ, Mastercard and Sterling One Foundation.
Stakeholders and investors can register for the summit through www.agricsummit.org.