Agricultural finance as climate finance: investing in West Africa's food security and resilience
via Punch Nigeria11 min read
As the world observes World Environment Day, a critical discussion for Nigeria and West Africa centers on financing agriculture to address climate change. Historically, African farmers relied on natural signs to guide their planting, but these signals have become unreliable due to changing weather patterns. The desert is expanding, Lake Chad is shrinking, and unpredictable rains cause severe flooding, impacting livelihoods. These are not isolated incidents but local manifestations of a global climate phenomenon, primarily affecting those who produce food. The article argues that agricultural finance is climate finance, emphasizing that direct investment in the land and the people who work it is the most impactful climate action for the region's financial sector. Despite agriculture being the foundation of the economy and employing the most people, it receives a disproportionately small share of bank lending due to perceived risks. However, advancements in financial tools, such as cash-flow facilities, value-chain models, warehouse-receipt systems, and weather-index insurance, are making the sector more bankable and resilient. These instruments, which promote irrigation, drought-tolerant seeds, and better storage, are crucial for farmers to adapt to a harsher climate. The author, Mannir U. Ringim, Executive Director, Business Banking at Union Bank of Nigeria, stresses that managing these risks requires collaboration among governments, development finance institutions, insurers
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Punch Nigeria.
Must ReadVice President Kashim Shettima, representing President Bola Tinubu at the 69th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Sierra Leone, condemned recent xenophobic attacks against Nigerians and other Africans in South Africa. Shettima called these incidents "Afrophobic" and urged ECOWAS to push for the matter to be addressed by the African Union, emphasizing that such behavior is unacceptable. He reminded South Africa of the role African countries, particularly Nigeria, played in its liberation. The Vice President stated that the Nigerian government has already evacuated 1,490 citizens from South Africa in seven batches and remains committed to diplomatic engagement. Beyond this issue, Shettima reaffirmed Nigeria's commitment to the ECOWAS Compact for the Future of Regional Integration, advocating for constitutional governance, the rule of law, human rights, and zero tolerance for unconstitutional changes of government. He encouraged member states and partners to support the Compact's implementation to build a resilient and people-centered West Africa. In other developments at the summit, Senegal's President Bassirou Diomaye Faye was elected Chairman of ECOWAS, succeeding Sierra Leone's President Julius Maada Bio, and Biram Diop was appointed President of the ECOWAS Commission.
Troops of Operation Hadin Kai have arrested six suspected terrorist logistics suppliers in the North East, intercepting a large consignment of materials intended for insurgents. The arrests, made on July 19, 2026, followed an intelligence-led stop-and-search operation. Captain Muhammed Goni, acting Military Information Officer for the Northeast Joint Task Force Operation Hadin Kai, stated that this success significantly disrupts terrorist activities in the region. Items recovered include herbicides, suspected acid, a Starlink wireless internet communication system, NPK fertilizer, rice, hoes, and knapsack sprayer pumps. Preliminary assessments suggest these materials have potential dual-use applications for terrorist logistics, sustainment, mobility, and communications. The NPK fertilizers and suspected acid will undergo further technical and forensic examination for possible use in fabricating Improvised Explosive Devices. The suspects and recovered items have been handed over to Military Intelligence for comprehensive investigation. Debriefings of rescued hostages and surrendered terrorist families indicate that the sustained disruption of logistics and supply chains by Operation Hadin Kai has degraded the operational capability of terrorist groups, leading to shortages of food, medical supplies, and communication equipment. Operation Hadin Kai remains committed to dismantling terrorist logistics and support networks through intelligence-driven operations and urges public c
Must ReadOyinkansola Badejo-Okusanya, a Senior Advocate of Nigeria, has been elected the 33rd President of the Nigerian Bar Association NBA, making her the second woman to lead the association and the first to be directly elected by its members. She secured 12,317 votes, or 47.18 percent, defeating two other senior advocates. Badejo-Okusanya will serve a two-year term from 2026 to 2028, succeeding Afam Osigwe, SAN. She follows Priscilla Kuye, who led the NBA from 1991 to 1992 through constitutional succession. Born on January 15, 1967, Badejo-Okusanya comes from a family of academics; her father, Professor Olufolabi Olumide, was the first Vice-Chancellor of Lagos State University, and her mother, Clara Folasade Abiodun Olumide, was the first female Registrar of the University of Lagos. She initially studied English at the University of Lagos before pursuing law, earning an LL.B. in 2000 and an LL.M. in Commercial and Corporate Law from Queen Mary University of London. With over two decades of legal experience, she is a founding partner at Africa Law Practice NG & Company, specializing in litigation, arbitration, commercial law, and dispute resolution. She also served in the Lagos State Government from 2007 to 2015 as Senior Special Assistant on Justice Sector Reform and General Counsel to the Governor. Elevated to Senior Advocate of Nigeria in 2025, she is recognized for her expertise in arbitration and alternative dispute resolution and is affiliated with several international legal