The United State Agency for International Development (USAID) has awarded $26.6 million grants to 33 companies in Nigeria.
The grant was said to be a co-investment with Nigeria businesses through its global hunger and food security initiatives.
This was reported by the Director of Economic Growth, Agriculture and Power, USAID, Ms Michelle Corzine, at a partnership event on Monday in Abuja.
The event was titled: “Collaborating for Enhanced Food Security in Nigeria,”
The event is to showcase the impact of public-private partnerships on Nigeria’s food security and economic growth.
Corzine said the grant serves as a partnership with the USAID- funded West Africa Trade and Investment Trade Hub Feed, the future Nigeria agribusiness investment activity.
Corzine added that through collaborative efforts, the Trade Hub and its partners have strengthened food systems, increased incomes, and promoted inclusive agro-development in Nigeria.
She said “these outcomes demonstrated the effectiveness of collaboration in strengthening food systems and promoting inclusive agro-development in Nigeria. They have catalyzed $171.2 million in private-sector investments, created over 26,000 new jobs, and generated nearly $400 million in domestic sales.”
“The Trade Hub, a $116.1 million USAID initiative, aims to improve private sector competitiveness in West Africa. Operating in 16 countries, it targets $400 million in new private investments and the creation of 60,000 jobs,” she said.
“Recognizing Nigeria’s pivotal role as a regional powerhouse, the U.S. government is dedicated to supporting initiatives that promote economic growth, enhance trade partnerships, and promote food security,” she stated.
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