Harvesting Prosperity: A deep dive into payment solutions for the agribusiness sector in Nigeria

The agriculture sector contributed 23.69% to Nigeria’s GDP in 2022, despite the dominance of the oil industry, agriculture remains the bedrock of the Nigerian economy. Nigeria is home to a thriving sector of SMEs in agro business and distribution, providing diverse growth opportunities.  However, Nigeria like its counterparts in Sub Saharan Africa faces a significant hurdle – most farmers lack access to formal financial services, hindering their ability to seize business opportunities and manage risks effectively. There remains an untapped potential to digitize cash payments for 40% of adults without bank accounts who receive payments for agricultural products.

In this white paper, we delve into:

• The significant importance of Nigeria’s agricultural sector contribution to GDP, and the diverse opportunities for SMEs  
• Learn how Nigeria's participation in the AfCFTA provides a new momentum for businesses to tap into a vast market of around 400 million people.
• Gain insights into how SeerBit's innovative payment solutions can empower entrepreneurs in the agribusiness sector to seamlessly collect payments from customers across Africa.