Sterling Bank has significantly expanded its agricultural lending, with its portfolio reaching approximately ₦322 billion as of September 2026. According to Nairametrics, this figure represents about 15% of the bank's total loan book, marking a roughly 30% increase from the ₦247.6 billion recorded at the end of 2025. The bank has cumulatively provided roughly ₦1 trillion in agricultural credit to over one million farming entities, while training more than 100,000 farmers in improved practices and digital tools.
This financial expansion occurs against a backdrop of complex food security dynamics in Africa. Nairametrics reported that cereal output in West and Central Africa for the 2025/2026 campaign hit an estimated 80.4 million tonnes, up about 4% year-on-year. Despite this growth, roughly 52.9 million people across the region were projected to face crisis-level food insecurity during the mid-2026 lean period. Nigeria accounted for approximately 36.3 million of those individuals, highlighting that increased production does not automatically ensure affordable access to food for consumers.
To address these systemic gaps, Sterling Bank has integrated agriculture into its HEART strategy, which prioritizes Health, Education, Agriculture, Renewable Energy, and Transportation. The bank’s interventions now extend beyond simple credit provision to include structured commodity finance, poultry financing, and market-linkage initiatives. Nairametrics noted that the bank has partnered with development finance institutions, including the International Finance Corporation, to structure financing that shares risk and connects producers with reliable buyers. One such arrangement combines a $20 million warehouse finance facility with a risk-sharing facility covering loans to smallholder maize farmers in northern Nigeria.
The bank also launched AgricHub, a digital ecosystem designed to connect agricultural businesses with financing and markets. This initiative was introduced during the ninth edition of Agriculture Summit Africa, held in Abuja in September 2026. The summit, themed "Building the Next Superpower: Africa’s Food Power Play," attracted over 12,000 participants and facilitated nearly 100 matchmaking sessions. These sessions secured over $380 million in investment opportunities, surpassing the initial $300 million target. Dr. Olushola Obikanye, Group Head of Agriculture and Solid Minerals Finance at Sterling Bank, stated that food security is determined by early-stage credit access and storage infrastructure rather than harvest alone.