FCMB and Mastercard Launch AgroPass for Nigerian Farmers

First City Monument Bank (FCMB) and Mastercard launched AgroPass, a digital platform designed to expand access to finance, markets, and agricultural services for smallholder farmers across Nigeria. The platform connects farmers with input suppliers, buyers, lenders, agribusinesses, and other participants in the agricultural value chain.

Yemisi Edun, Managing Director of FCMB, represented by Obaro Odeghe, Executive Director of Wholesale Banking, stated that supporting farmers involves building connections to finance, markets, technology, knowledge, and opportunity. FCMB provided over 364.6 billion naira ($236 million) in financing to Nigeria's agricultural sector last year, benefiting more than 196,000 smallholder farmers, with nearly half being women and young people.

Despite agriculture contributing over 20% of Nigeria's GDP, many smallholder farmers face barriers to accessing financing and support. FCMB's value-chain financing model aims to address these gaps, enhancing agricultural productivity and creating economic opportunities in rural communities.