The United States Agency for International Development (USAID) has awarded $26.6 million in co-investment grants to 33 Nigerian companies under its global hunger and food security initiative. The announcement was made by Michelle Corzine, Director of Economic Growth, Agriculture, and Power at USAID, during a partnership meeting in Abuja on Monday.
The grants were distributed through the USAID-funded West Africa Trade and Investment Hub’s Feed the Future Nigeria Agribusiness Investment activity. The event, titled “Collaborating for Enhanced Food Security in Nigeria,” highlighted the impact of public-private partnerships on the country’s food security and economic growth.
“Through the Feed the Future Initiative, the Trade Hub has awarded $26.6 million in co-investment grants to 33 companies,” Corzine said. “The U.S. government is deeply invested in the prosperity of Africa, recognizing the immense potential for growth and development of the continent. As President Biden said during the 2022 U.S.-Africa Business Forum, ‘Africa’s success and prosperity are essential to ensuring a better future for all of us, not just Africa.’”
Corzine emphasized Nigeria’s pivotal role as a regional powerhouse and the U.S. government’s commitment to supporting initiatives that promote economic growth, enhance trade partnerships, and ensure food security. She noted that the collaborative efforts of the Trade Hub and its partners have strengthened food systems, increased incomes, and promoted inclusive agro-development in Nigeria.
“These outcomes demonstrate the effectiveness of collaboration in strengthening food systems and promoting inclusive agro-development in Nigeria,” Corzine added. “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, operates in 16 countries with goals to improve private sector competitiveness, target $400 million in new private investments, and create 60,000 jobs.
The event featured panel discussions, presentations, product showcases, and networking sessions, where partners shared their successes and challenges in implementing food security initiatives.
Corzine concluded by highlighting the U.S. commitment to fostering sustainable economic development and supporting Africa’s prosperity, with a focus on Nigeria’s significant regional role.
NAN
