By Edoamaowo Udeme
The U.S. government yesterday showcased its achievement on improving Nigeria’s agricultural business environment through the Feed the Future Nigeria Agribusiness Investment activity. U.S. Agency for International Development as it closed its activity.
Since 2008, USAID, through the Feed the Future Initiative, has been combating global hunger. The initiative brings partners together to address the root causes of hunger and poverty by boosting agriculture-led growth, resilience and nutrition in countries with great need and opportunity for improvement. Nigeria is one of the U.S. government’s twelve Feed the Future focus countries, and the initiative’s positive impact on the country has been clear.
The $15.7 million activity assisted over 17,000 micro, small and medium enterprises (MSMEs) in seven states – Benue, Cross River, Delta Ebonyi, Kaduna, Kebbi, and Niger – to access new commercial credits and equities valued at over $200 million. The MSMEs are now able to expand and scale up their business operations for increased food production along aquaculture, cowpea, maize, rice, soybean value chains in the country.
The Feed Nigeria Summit Deal Room Clinic is a unique event in conjunction with the USAID Agribusiness Investment Activity as a technical partner, designed solely for members of the investor community who take keen interest in the agribusiness sector. This event serves as a precursor to the upcoming 2023 Feed Nigeria Summit, and aims to foster meaningful engagements between investors and agribusiness partners in such a way as to obtain feedback on how the Deal Room framework can be better structured to help agriculture deliver value to the Nigerian economy.
In the wake of a declaration of a state of emergency in Nigeria’s agricultural sector, this meeting becomes key to fighting back the debilitating claws of food insecurity and abysmal investments in key agribusiness activities that will help the economy roar back towards growth and stability.
The Federal Ministry of Agriculture and Food Security, as a co-convening partner, was on hand, through its relevant departments, Agencies and Projects, and pointed to key areas of value and profitability, while making strong commitment to appropriate policy actions and steps that will galvanize broad based sectoral productivity.
