There is great need for countries to be self-sufficient, especially when it comes to growing their own food and reducing their reliance on importing food and other resources that may be supplied locally hence the need to provide avenues and making avenues for financing the industry.
Additionally, large and medium-sized Agribusinesses produce a significant portion of Nigeria’s food supply. Their limited access to financing is one of the main obstacles these Agribusinesses must overcome. In fact, finance is needed by farmers and agricultural companies for operating capital, expansion, and startup costs. In Nigeria, there is a significant and huge imbalance between supply and demand for agricultural financing.
Many Agribusinesses are either too big to qualify for borrowing from microfinance organizations or unable to comply with the strict requirements of commercial banks. Increased customized finance for the sector may be the key to realizing Nigeria’s full potential for agricultural productivity and food security.
This research is specifically tailored towards providing detailed ways of funding the Agribusinesses and as well accessing the numerous grants provided by the government.