USAID Trade hub awards N562.9m grant to FMN-GAIL on maize, soybean production in Nigeria

USAID Trade hub awards N562.9m grant to FMN-GAIL on maize, soybean production in Nigeria

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The USAID-funded West Africa Trade and Investment Hub (Trade Hub) has awarded 562.9 million naira in co-investment grants to Golden Agri – Inputs Limited (GAIL), a wholly owned subsidiary of Flour Mills of Nigeria Plc (FMN), a Nigerian company specialized in agricultural value chain development and input sales and distribution. Through this partnership Flour Mills of Nigeria, GAIL is co-investing over 3 billion naira.

The co-investment partnership activity titled ‘YALWA Abundance” will engage smallholder farmers in an outgrower program to cultivate 10,000hectares (Ha) of land and generate 22,500 Metric tons (MT) of maize and 12,500MT of soybean; provide improved agronomic trainings, extension support, and input loans to 10,000 smallholder farmers to increase the productivity of maize and soybean and minimize post-harvest losses.

The project is also designed to create 151 new jobs in Nigeria thereby helping to bridge the unemployment gap in the country whilst directly benefitting about 10,000 maize and soybean farmers with 30% being female and young farmers respectively and over 60,000 indirect beneficiaries.

The Group Managing Director/CEO, FMN, Mr. Boye Olusanya explained that “FMN is one of the largest food processors in Nigeria with an aggregate combined processing capacity of over 750,000 Metric Tons (MT) per annum. For over six decades, the Group has been significantly investing across its five key value chains – Grains, edible Oil and Fats, Feeds & Proteins, Sweeteners, and Starch, thus GAIL’s co-investment with the Trade Hub to expand its “YALWA” project and to provide input credit to 10,000 smallholder farmers across four states in Nigeria is an invaluable venture for both the organization and the nation.”

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“This is strategic for us as a Group to progressively drive local content development in Nigeria so as to ensure that the national mandate of attaining food self-sufficiency in the nearest future is attained. Our partnership with the Trade Hub will help fastrack this mandate whilst creating varied job opportunities for Nigerians.

“The Trade Hub strives to promote and expand employment, trade & export, and investment opportunities both within the West African sub-region and international markets” stated Mr. Robin Wheeler, Chief of Party, Trade Hub “The Trade Hub is a five-year trade and investment facilitation program that seeks to improve private sector competitiveness in West Africa. Having closely followed the investments made by FMN through its subsidiary GAIL, especially with the level of success recorded under the ‘Yalwa Abundance’ programme, we strongly believe that this partnership will positively transform Nigeria’s food security and boost the local production of maize and soybean,” he added.

 


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