The U.S. African Development Foundation (USADF) and Nigeria’s Kebbi State Government have signed a 10 million-dollar Memorandum of Understanding (MoU) on the development and expansion of agricultural enterprises in the state.
The agreement was signed on Thursday in Abuja by the President and Chief Executive Officer of USADF, Mr. C.D. Glin and Kebbi State Commissioner for Agriculture, Alhaji Attahiru Mashido.
Glin said that USADF, the U.S. Government’s African enterprise development agency, was uniquely positioned to leverage funds from African governments and directly invest the funds in community enterprises.
He said that USADF and Kebbi would contribute five million dollars each for the five-year programme, which was aimed at providing seed capital and technical assistance to local agribusinesses in the state.
According to him, each of the partners would contribute one million dollars each to the programme.
“This partnership will focus on three value chains in the region to fund the production of rice, dairy products and groundnuts.
“The goals of this partnership are to increase Kebbi State’s market competitiveness, while increasing incomes and yields for community enterprises and individual farmers.
“USADF will provide one million dollars a year in seed capital funding as well as technical assistance and oversight through its local partner, Diamond Development Initiative,” he said.
He said that USADF had recognised the challenges facing the African continent today and in the future, adding that the agency would co-create solutions with Nigerians to build stronger communities across the country via agribusiness.
In his remarks, Gov. Abubakar Bagudu of Kebbi said that the partnership was a remarkable agreement which would enhance the development of agriculture and stimulate empowerment of people in the state.