News
USAID Pledges Technical Support, Launches New Agricultural PSP
The United States Agency for International Development (USAID) on Tuesday launched two new agribusiness partnerships with Chi Farms and Niji Foods.
The event highlighted USAID’s agricultural and private sector strategy using partnerships (PSP) with government, local organizations and private industry to develop the Nigerian agriculture sector.
Representatives from the Nigerian Government attended the event to highlight their commitment to this partnership that is helping to advance agriculture and trade in Nigeria.
Through these partnerships, USAID aims to address development and business challenges to agricultural inputs and mechanization by providing quality technical advisory services and expanded market opportunities for smallholder farmers.
These partnerships will also capitalize on the untapped potential of smallholder farmers and small processors to help grow agribusinesses, create secure jobs, and boost economic growth in Nigeria.
“With Nigeria’s increasing population, these programs are vital to achieving food security and lowering dependency on exports,” said Michael T. Harvey, Mission Director of USAID Nigeria. “Public-private partnerships are a proven way of expanding investment in agriculture, improving both efficiency and productivity.”
Chi Farms: Recognizing the need to increase Nigeria’s domestic fish production to meet growing demand and end reliance on imported fish, Chi Farms – under this partnership – will train 1,000 smallholder fish farmers in Lagos and Ogun States on new farming techniques, access to credit, and marketing skills to help raise incomes.
Farmers will have access to quality juvenile catfish from Chi Farms’ multiple hatcheries, as well as aquaculture management training and financial tools to provide the knowledge necessary to build successful aquaculture businesses.
Niji Foods: Despite the volume of cassava processed in Nigeria and the commercial potential of cassava peel for livestock feed, there is virtually no commercially-available livestock feed made from cassava peel.
Niji Foods, with the International Livestock Research Institute, with USAID support, is establishing three cassava peel processing centers to address this market gap.
They will recruit and train staff on critical operations and business management, not only creating the processing centers but also providing long-term local employment. In addition, they will ultimately hand over partial ownership of the centers to at least three women’s groups.
These initiatives are part of the U.S. government Feed the Future program which was launched globally in 2012.
Since 2014, Feed the Future has invested $75 million in Nigeria helping 800,000 Nigeria farmers acquire improved seeds, fertilizers, tools and access to markets.
EFCC
The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.
Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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