The United States government, through the United States Agency for International Development, celebrated the five-year ‘Feed the Future Nigeria Agribusiness Investment activity.’
On October 10, 2023, the five-year achievement was commemorated.
More than 18,000 small enterprises, commonly known as Micro, Small, and Medium Enterprises, benefited from the $15.7 million Agribusiness Investment activity in seven states: Benue, Cross River, Delta, Ebonyi, Kaduna, Kebbi, and Niger.
According to a press release issued by the US embassy in Abuja on Wednesday.
“The initiative mobilized over N188 billion ($244 million) in agricultural investment, providing access to finance and bolstering their businesses,” it stated.
Read also:
- SMEDAN launches talent hunt for innovators in agriculture, tech & entertainment
- NDE trains 33,692 Nigerians in vocational, business skills
- Insurance loss adjusters urged to seize AfCFTA opportunities for growth
- FG to strengthen cold chain infrastructure to cut post-harvest losses
- Delta’s Oil Palm Initiative unlocks wealth for SMEs, communities
“The MSMEs are now able to expand business operations for increased food production, specifically for aquaculture, cowpea, maize, rice and soybean.”
According to Michelle Corzine, Director of the USAID/Nigeria Economic Growth and Environment Office, USAID has partnered with Nigeria to help address these challenges by supporting agriculture and food security programs in collaboration with the federal and state ministries of agriculture and food security, as well as the private sector, to increase agricultural productivity, expand markets, improve nutrition, and facilitate access to finance.
Discover more from SMALL BUSINESS INSIGHTS
Subscribe to get the latest posts to your email.
