USAID summit boosts food security in Nigeria with $26.6m in co-investment grants to 33 coys

USAID-funded West Africa Trade & Investment Hub has hosted a partnership summit. The event, titled “Collaborating for Enhanced Food Security in Nigeria,” showcased the impact of public-private partnerships on Nigeria’s food security and economic growth. The summit featured panel discussions, presentations, product showcases, and networking sessions. Trade Hub partners shared their successes and challenges in implementing food security initiatives. Through the Feed the Future Initiative, the Trade Hub has awarded $26.6 million in co-investment grants to 33 companies.

These partnerships have yielded results. Through collaborative efforts, the Trade Hub and its partners have strengthened food systems, increased incomes, and promoted inclusive agro-development in Nigeria. Through the U.S. Government’s global hunger and food security initiative, Feed the Future Initiative, the Trade Hub has awarded $26.6 million in co-investment grants to 33 companies. They have catalysed $171.2 million in private-sector investments, created over 26,000 new jobs, and generated nearly $400 million in domestic sales. These outcomes demonstrate the effectiveness of collaboration in strengthening food systems and promoting inclusive agro-development in Nigeria.

Michelle Corzine, Office Director of Economic Growth, Agriculture and Power, emphasised the U.S. government’s commitment to Africa’s prosperity and Nigeria’s role as a regional powerhouse. She remarked: ““The U.S. government is deeply invested in the prosperity of Africa, recognising 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.’ Recognising 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.”

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. This event highlights the Trade Hub’s ongoing efforts to foster sustainable economic development through strategic partnerships.