IFC: Less than 5% Commercial Bank Lending Going to Agriculture is Serious Devt Gap

The International Finance Corporation (IFC) has stated that less than five per cent of commercial bank lending in Nigeria goes to agriculture, describing this as a serious development gap. The corporation made the statement in Lagos during a press briefing aimed at mobilising Nigerian financial institutions to attend the African Financial Summit 2026, scheduled for November in Luanda, Angola, under the theme "Making Capital Count: Unlocking Growth Through African Finance." IFC Divisional Director for Nigeria and Central Africa, Mr. Oliver Buyoya, said the corporation is developing a value chain analysis to address barriers hindering the flow of credit to agriculture. He noted that the low share of bank lending to the sector made this intervention necessary.

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