UK invests $7.5m in Nigerian agri-tech firm to enhance food security

The British International Investment (BII), the UK’s development finance institution, has announced a $7.5 million investment in Babban Gona, a Nigerian agri-tech platform.

Announcing the development at a signing ceremony on Tuesday in Lagos, the BII said the fund would boost food security and climate resilience for smallholder farmers in northern Nigeria.

Speaking during the event, Florence Eshalomi, the UK trade envoy to Nigeria, said the investment would also support the expansion of an innovative, technology-driven model that provides farmers with access to finance, training, and essential services, enhancing yields and incomes while strengthening climate resilience.

“From early-stage UK support through Propcom Maikarfi to this milestone investment, Babban Gona’s journey is a powerful example of what’s possible when we invest in Nigeria’s agricultural future,” she said.

“This partnership reflects the UK-Nigeria commitment to sustainable, inclusive growth, and I’m excited to see the impact it will generate.”

Benson Adenuga, BII’s West Africa regional director and head of office for Nigeria, said the partnership with Babban Gona is a great example of how the institution is using “catalytic capital” to support innovative, high-impact business models that transform lives and economies.

“By backing this pioneering franchise model, we are not only addressing a critical financing gap but also helping to build a more resilient and productive agricultural sector and support smallholder farmers in a region that is often overlooked by investors,” he said.

“This investment will deliver tangible impact at scale, strengthening food security and climate resilience.”

Also speaking at the event, Kola Masha, Babban Gona’s managing director, said the British government played an instrumental role in the company’s story, “becoming the first institutional investor in our 2013 public debt raise”.

“Now, a little more than a decade later, to have British International Investment commit an amount 10x larger is a powerful testament to our shared vision for bettering the lives of smallholder farmers,” he said.

“We are thrilled to have them partner with us in this next phase of our journey as we accelerate the impact of our work, with the ambition to become the Earth’s highest-impact business.”

On his part, Jonny Baxter, the British deputy high commissioner in Lagos, said the investment signals the need for a private sector approach in Nigeria’s agricultural markets.

He said the investment represents the understanding that “this is the only way, ultimately, to bring prosperity”.