The United States has restored a government-backed credit guarantee to attract Nigerian agro-importers, capitalising on an 84 percent growth in agricultural trade between the two countries
In Lagos on Friday, officials said Nigerian banks regained access to the US Department of Agriculture’s GSM-102 program in late 2025, enabling financing for importers seeking American agricultural inputs.
“At its core, GSM-102 strengthens market confidence by reducing risk, enabling lenders and exporters to move forward with transactions and expand into new opportunities,” said Demeteris Hale, senior analyst for Africa at the US Department of Agriculture.
Agricultural trade between Nigeria and the US reached $764 million in 2025, up from $415 million in the previous year, according to officials. Two-way trade in goods and services totalled nearly $15 billion, with farm products now a major driver. Available data shows Nigeria’s imports from the US rose to $6.7 billion in 2025 from $4.2 billion in the previous year.
Rick Swart, the consul general quoted the US’ intentions as moving from “aid to trade” with the US positioning Nigeria as a “commercial partner” for agricultural exports.
Credit limits have already been extended to selected Nigerian banks since late 2025, officials said, suggesting immediate take-up.
Bethel Olujobi
Bethel Olujobi reports on trade and maritime business for BusinessDay with prior experience reporting on migration, labour, and tech. He holds a Bachelor’s degree in Mass Communication from the University of Jos, and is certified by the FT, Reuters and Google. Drawing from his experience working with other respected news providers, he presents a nuanced and informed perspective on the complexities of critical matters. He is based in Lagos, Nigeria and occasionally commutes to Abuja.
