The United States government, through the US Agency for International Development, has invested $244m in an initiative to support 18,000 small businesses in Nigeria, aiming to boost economic development and entrepreneurship.
The five-year program, known as “Feed the Future Nigeria Agribusiness Investment activity,” impacted the local business landscape, mobilising more than N188bn ($244m) in agricultural investment. The project focused on seven states including Benue, Cross River, Delta, Ebonyi, Kaduna, Kebbi, and Niger, assisting micro, small, and medium-sized enterprises in increasing food production related to aquaculture, cowpea, maize, rice, and soybean.
The investment activity enabled the MSMEs to expand their business operations by providing access to financial support. USAID/Nigeria Economic Growth and Environment Office Director, Michelle Corzine said the agricultural sector showed remarkable improvements in entrepreneurship and the business environment, primarily due to a combination of public and private sector collaboration.
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