FCMB Supports Launch of FMYD-IITA Youth in Agribusiness Land Trust Fund

Nigeria's Federal Ministry of Youth Development (FMYD), in collaboration with the International Institute for Tropical Agriculture (IITA), has launched the National Youth in Agribusiness Land Trust Fund (YiALTF). This significant initiative is designed to enhance land access and create new opportunities for more than 500,000 young Nigerians engaged in building sustainable agribusiness enterprises. First City Monument Bank (FCMB) is providing crucial support to this program.

The YiALTF directly tackles a major obstacle faced by young agripreneurs: securing land. Beyond land access, the fund aims to establish clear pathways for financing, enterprise development, and ultimately, job creation. This comprehensive approach is expected to drive long-term economic growth within Nigeria's vital agricultural sector.

At the launch event, the Honourable Minister of Youth Development, Ayodele Olawande, emphasized the initiative's transformative potential. He described it as a major step toward boosting youth involvement in agriculture and positioning agribusiness as a key engine for economic empowerment. Senator Atiku Bagudu, the Minister of Budget and Economic Planning, echoed these sentiments, calling the fund a testament to Nigeria's dedication to empowering its youth and strengthening the agricultural landscape. He noted that the initiative would dismantle long-standing barriers to land ownership, fostering an environment where youth-led agribusinesses can flourish.

Kudzai Gumunyu, Divisional Head of Agribusiness and Non-Oil Export at FCMB, reaffirmed the bank's commitment. "The future of Nigerian agriculture depends on how well we structure financing and support systems around the realities of young people and the sector," Gumunyu stated. "Agriculture must be presented as a modern, technology-driven business offering opportunities in logistics, processing, commodity trading, mechanisation, digital platforms, and innovation."

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The future of Nigerian agriculture depends on how well we structure financing and support systems around the realities of young people and the sector. Agriculture must be presented as a modern, technology-driven business offering opportunities in logistics, processing, commodity trading, mechanisation, digital platforms, and innovation.