… As FUNAAB Holds 105th Inaugural Lecture_
By Olasunkanmi Olajide & Femi Dansu_
A distinguished expert in agricultural finance and policy, Prof. Dorcas Adegbite, has called for the adoption of innovative and inclusive agricultural financing models to break the persistent barriers hindering Nigerian farmers from accessing timely and adequate funding for agricultural expansion.
Delivering the 105th Inaugural Lecture of the Federal University of Agriculture, Abeokuta (FUNAAB), held today, October 15, 2025, and titled “Financing the Cooperatives: Repayment Culture for Sustainable Agricultural Development,” Prof. Adegbite underscored the urgent need for comprehensive reforms in agricultural credit systems and loan repayment structures to achieve sustainable food security.
Prof. Adegbite, who serves in the Planning, Monitoring and Evaluation/ICT Programme of the Agricultural Media Resources and Extension Centre (AMREC), lamented that despite decades of agricultural policy interventions, many farmers still face difficulties in securing capital “at the right time, in adequate amounts, and for the full duration of their production cycles.”
According to her, although commercial bank loans remained the most common source of short-term financing for small and medium-scale agribusinesses, bureaucratic delays, repayment bottlenecks, and limited access to rural credit continue to constrain productivity and discourage expansion.
Drawing from extensive research, the former Director of AMREC identified major determinants of loan repayment performance to include loan size, farmers’ experience, farm location, and the timing of disbursement. She, therefore, called for a strategic partnership between government, private financial institutions, and cooperative bodies to create financing frameworks that are flexible, transparent, and tailored to farmers’ realities.
“Sustainable agricultural financing demands more than disbursing loans; it requires systems that are responsive, farmer-centred, and accountable. We must innovate to ensure that funds truly serve their intended purpose, growing agriculture and supporting livelihoods,” she emphasised.
Prof. Adegbite recommended the expansion of rural financial institutions, the introduction of savings-linked and supplementary loan schemes, and continuous monitoring of loan utilisation as key measures to strengthen farmers’ repayment capacity and trust in the credit system.
In his remarks, the Vice-Chancellor, Prof. Babatunde Kehinde, commended Prof. Adegbite for her intellectual contributions and leadership in agricultural finance research, describing her as “a dedicated scholar whose work continues to illuminate pathways for sustainable cooperative development and rural empowerment.”
The event, which drew a diverse audience of scholars, policymakers, students, including members of the farming community and FUNAAB’s extension villages further reinforced the University’s reputation as a centre of excellence in agricultural innovation, policy research, and capacity building, committed to advancing practical solutions to Nigeria’s developmental challenges.
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