In a significant push to modernize Nigeria's farming sector, First City Monument Bank (FCMB) has successfully concluded its AgriTech Hackathon 2025, held recently in Lagos. The event, organized in partnership with the Dutch Entrepreneurial Development Bank (FMO) and HeaveVentures, aimed to fast-track digital transformation and sustainability within the nation's agricultural value chain.
Showcasing Tech-Driven Agricultural Solutions
The hackathon served as a competitive platform for seven promising startups drawn from various segments of the agricultural ecosystem. Each participant presented innovative, technology-driven solutions designed to tackle persistent challenges in the sector. After undergoing rigorous rounds of pitching and receiving expert mentorship, a clear winner emerged.
Qiqi Farms, represented by Favour Adeleke, was declared the overall grand prize winner. The first and second runners-up were Farm Monitor and Tuplant, respectively. In a move to encourage broader participation and innovation, four other startups—Llyon Farms, AgriX, Freshfare, and PalmShops—were each awarded a consolation grant of N1 million for their commendable contributions.
Leadership and Partners Hail Collaborative Success
During the grand finale and cheque presentation ceremony, key figures from the organizing bodies highlighted the hackathon's strategic importance. Mr. Kudzai Gumunyu, the Divisional Head of Agribusiness and Non-Oil Exports at FCMB, emphasized the bank's commitment to fostering innovation.
"This hackathon reflects FCMB’s commitment to nurturing innovation and supporting the next generation of agritech entrepreneurs," Gumunyu stated. "By connecting startups to funding, mentorship, and markets, we are helping transform Nigeria’s agricultural sector into a digitally driven, globally competitive industry."
Echoing this sentiment, Mr. Abiodun Lawal, CEO of HeaveVentures, underscored the power of collaboration. "This hackathon demonstrates the power of collaboration between financial institutions and the tech ecosystem," he said. "We are proud to see startups developing solutions that can redefine productivity, sustainability, and food security across Africa."
A Boost for Nigeria's AgriTech Landscape
The event was attended by other notable personalities, including Mr. George Ogbonnaya (Divisional Head, Business Banking, FCMB), Mope Abudu (Managing General Partner, AfriGloCal Venture Capital), Dr. Jide Adedeji (Adjunct Professor of Agribusiness, Lagos Business School), and Mr. Femi Abioye (CEO, Agrimedia Group). Their presence underscored the wide-ranging support for agritech development in Nigeria.
The FCMB AgriTech Hackathon 2025 reinforces the institution's strategic focus on advancing Nigeria’s food security and digital economy. It achieves this through a clear formula: promoting grassroots innovation, forging strategic partnerships, and facilitating access to sustainable finance for budding entrepreneurs. This initiative marks a concrete step towards building a more resilient and technologically advanced agricultural future for the country.
