Agriculture has long been a key part of Nigeria’s economy, yet many smallholder farmers still struggle to access finance and the tools they need for modern farming. This is beginning to shift with the rise of agri-fintech, an emerging sector that combines agriculture, financial services, and technology to support farmers more effectively.
Traditionally, getting loans has been difficult for farmers. Many lacked formal credit histories, and banks often viewed agriculture as too risky. Agri-fintech startups are helping to change this by offering simple, tech-driven solutions. Through mobile apps and USSD codes, farmers can now access credit, farm inputs like seeds and fertilisers, and even training resources. Some platforms also offer crowdfunding options and direct market access, helping farmers reach buyers more easily.
These platforms do more than provide funding. They monitor farming activities from planting through to harvest, creating a digital record of progress. This data helps build a financial profile for each farmer, making future access to credit easier and reducing the risks for lenders. For rural farmers who were previously excluded from the financial system, this marks a major step toward economic inclusion.
A key player in this space is ThriveAgric. The company supports farmers with credit in the form of inputs, offers access to farm data tools, and connects them to reliable markets. This integrated model helps boost productivity and profits. Financial institutions are also seeing the benefit of working with such startups. Instead of competing, banks can now collaborate with agri-fintechs to fund farmers at scale while managing their risk more effectively. For manufacturers and retailers, a stronger farming sector also means more stable supply chains and better access to raw materials.
Agri-fintech is no longer a niche solution. It is revitalising rural economies, supporting food security, and driving financial inclusion across Nigeria and other parts of Africa. The future of agriculture looks stronger when farmers have access to the right support, and agri-fintech is making that possible.
