US Supports 18,000 MSMEs to Access $244m

The United States government, through the U.S. Agency for International Development, celebrated the achievements of the five-year ‘Feed the Future Nigeria Agribusiness Investment activity.’

The five-year achievement was celebrated on October 10, 2023.

The $15.7 million Agribusiness Investment activity assisted more than 18,000 small businesses, also known as Micro, Small and Medium Enterprises in seven states – Benue, Cross River, Delta, Ebonyi, Kaduna, Kebbi, and Niger.

This is according to a press release from the U.S. embassy in Abuja on Wednesday.

It said, “The initiative mobilised more than N188 billion ($244 million) in agricultural investment, thereby providing access to finance, and bolstering their businesses.

“The MSMEs are now able to expand business operations for increased food production, specifically for aquaculture, cowpea, maize, rice and soybean.”

By supporting agriculture and food security programmes in collaboration with the federal and state ministries of agriculture and food security, and the private sector to increase agricultural productivity, expand markets, improve nutrition, and facilitate access to finance; USAID has partnered with Nigeria to help address these challenges, according to the USAID/Nigeria Economic Growth and Environment Office Director, Michelle Corzine.

“We have seen remarkable improvements in the agricultural sector, and it is essential that public and private-sector actors continue to collaborate to ensure that we continue to improve the business environment for Nigeria’s farmers.”

More than 150 people attended the event, including the Permanent Secretary, Federal Ministry of Agriculture and Food Security, Dr. Ernest Umakhihe; USAID officials, and public and private-sector partners.

October 26, 2023