In a significant move to enhance food security in Nigeria, the United States government has announced an investment of nearly $200 million over the past five years. David Greene, the U.S. Acting Ambassador to Nigeria, disclosed this during the launch of the 2024-2029 Global Food Security Strategy in Abuja.
The investment aims to bolster agricultural productivity and economic development across Nigeria, with a particular focus on the cocoa value chain in seven states. Greene emphasized the importance of empowering Nigerians to address their own challenges, despite external support.
Read also
- Nigeria takes bold step to protect domestic workers as bill advances
- FG, Benue partner to transform livestock sector, unlock $74bn growth potential
- NDDC empowers 300 Niger Delta rice farmers with N200,000 starter packs
- UKEF is Empowering Women-Led SMEs to Thrive in Global Trade
- SMEDAN hosts town hall to guide SMEs on tax reforms
Highlighting the multifaceted approach, Greene noted that the U.S. Agency for International Development (USAID) provided substantial grants to 33 Nigerian private sector companies, leveraging over $150 million in private-sector development. This initiative resulted in significant domestic sales and the creation of over 23,000 jobs.
Furthermore, the U.S. Department of Agriculture inaugurated a $22 million investment in Nigeria’s cocoa value chain, spanning seven states. This investment aims to improve rural livelihoods by enhancing cocoa productivity, trade capacity, and traceability.
The application of the Global Food Security Strategy for Nigeria over the next five years is expected to amplify agricultural productivity and stimulate economic development, underscoring the enduring partnership between the United States and Nigeria in addressing critical food security challenges.
Discover more from SMALL BUSINESS INSIGHTS
Subscribe to get the latest posts to your email.