British International Investment (BII), the UK’s development finance institution and impact investor, has committed over $120 million to strengthen Nigeria’s agricultural sector, enhance food security, and build climate resilience.
The latest investment is a $7.5 million debt financing into Babban Gona, an agri-tech social enterprise supporting smallholder farmers in Northern Nigeria with credit, quality inputs, training, and market access. The funding aims to tackle persistent barriers, including limited finance and growing climate risks.
Speaking at the signing in Lagos, UK Deputy High Commissioner Jonny Baxter said the investment would boost food processing, create jobs, and improve livelihoods, adding that it reflects Britain’s broader commitment to deepen economic partnerships with Nigeria.
UK Trade Envoy to Nigeria, Florence Eshalomi MP, described the deal as proof of long-term support for Nigeria’s agriculture. “This investment will help scale an innovative, tech-enabled model that empowers farmers, boosts yields and incomes, and builds resilience,” she said.
BII’s West Africa Regional Director, Benson Adenuga, noted that the partnership highlights how catalytic capital can support inclusive growth. He said the bank is not only closing financing gaps but also helping to build a resilient agricultural value chain.
Beyond Babban Gona, BII has backed several agro-processing ventures in Nigeria, including $15 million in Valency International for cashew processing, $40.5 million in Johnvents Group to expand cocoa processing, and $65 million in Indorama Fertilizer’s $1.25 billion expansion project.
Together, these commitments represent one of the largest coordinated flows of UK-backed investment into Nigeria’s agriculture in recent years, with the potential to create thousands of jobs and boost export capacity.
