USAID supports Nigeria’s agriculture sector with $600m yearly

PUNCH

The United States Agency for International Development’s office in Nigeria, on Tuesday announced that it supported the development of Nigeria’s agriculture sector with $600m (about N183bn) annually.

USAID’s Mission Director in Nigeria, Mr. Michael Harvey, made the announcement in on the sidelines the inauguration of a new agricultural private sector partnership in Lagos.

Africa Resilience Forum: AfDB President lays out blueprint for dealing with fragility

AgroNigeria News

African countries will need innovative partnerships and a mix of small-scale and big transformational projects to build resilience and overcome fragility, African Development Bank President Akinwumi Adesina told the Africa Resilience Forum on Tuesday in Abidjan.

Adesina announced that the Bank has created a bottom-up initiative to deliver the Bank’s development priorities – the High 5s –– in 10,000 communities in fragile situations in 1,000 days. “It requires innovative partnerships to scale up existing technologies in these environments. One such technology is present with us here in the room: Abze develops low-cost solar lighting that could be brought to rural communities in fragile situations through a concerted partnership effort,” he told the audience.

AFDB APPROVES $9M EQUITY INVESTMENT FOR AGRICULTURAL SMES IN NIGERIA

Agro Nigeria online

The African Development Bank has approved a $9 million equity investment in the Fund for Agricultural Finance in Nigeria (FAFIN) to provide expansion capital to agricultural small and medium-sized enterprises (SMEs).

FAFIN is a first-generation private equity fund that provides financial, capacity-building and technical assistance to commercially viable SMEs in the Nigerian agribusiness sector, through a unique value chain-centric approach, and using a combination of equity, quasi-equity and convertible loan instruments. FAFIN implements its strategy and constructs its portfolio through a bifocal lens consisting of the twin objectives of competitive financial returns and measurable positive social impact.

The Fund is jointly sponsored by the German KfW Development Bank and the Government of Nigeria, through the Federal Ministry of Agriculture and Rural Development (FMARD).

World Bank supports agricultural sector with $50m

PM NEWS

The World Bank has pledged to support Nigeria’s agricultural sector with 50 million dollars towards the restoration of agricultural livelihood of Fadama beneficiaries in the North East.

Dr Adetunji Oredipe, Task Team Leader of the Fadama III project, disclosed on Thursday in an interview with News Agency of Nigeria (NAN) that the programme would last up until December 2019.

He said the programme had begun in Adamawa, Bauchi, Borno, Taraba, Gombe and Yobe states.

Oredipe disclosed that Borno, Yobe and Taraba had released their N20 million counterpart fund, while the three other states had given approval for payment.

He said that the bank had launched a special programme of Fadama for the North East towards actualising the programme.

Oredipe said that actualising the programme had become imperative because the bank was determined to help to restore livelihood in the region.

“We want to reach out to 24,000 households and we have the package for them as you know most of them have lost everything.

He said that the programme would be done in stages and there is a budget for every community where the bank is intervening.

Lokpobiri Assures Nigerians of Bumper Harvest.

Source: Agro News Nigeria

The Minister of State for Agriculture, Sen. Heineken Lokpobiri, on Monday gave an assurance that the country would have sufficient food in the next harvest season

Lokpobiri the assurance while speaking with State House correspondents after he led a foreign agro-investor, Wells –San Carlos Agro Farms Ltd., on a courtesy visit to Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

The attributed the current high cost of foodstuff due to the lack of investment in agriculture in 2015 due to the change in government.

“That is why you are seeing a scarcity of rice and the price has gone up to about N25,000 a bag.

“But this year, the President (Buhari) has given us all the support we have requested to see how we can support farmers the little way we can.

Samples of Tractors

    

                          SALVAGED, USED SAAB AUCTION    

     SAAB CARS DESIGNS 

SAAB MUSEUM