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US to invest $55m in Nigeria’s agric sector

The US embassy and consulate in Nigeria disclosed this in a recent statement.

According to the statement, the fund is part of President Joe Biden’s recent pledge to Nigerians at the Group of Seven (G-7) leaders’ summit in Germany.

The statement added that the fund would be administered through the U.S. Agency for International Development (USAID) under its agriculture, and nutrition programme.

“The U.S. will invest an additional $55 million in food security relief for Nigerians as part of President Biden’s recent pledge at the G-7 leader’s summit in Germany to protect the most vulnerable nations from an escalating global food crisis,” the statement reads.

“It is to be administered through the U.S. Agency for International Development (USAID) under its agriculture, nutrition, and humanitarian assistance programs (and subject to Congressional approval), the funds will help immediately address the economic, food and nutrition needs of vulnerable communities in Nigeria most adversely impacted by higher food, fuel, and fertilizer prices.”

The US said, so far, its total investment internationally in combating the global food security crisis since the start of Russia’s invasion of Ukraine has reached over $5.6 billion.

 Speaking on the gesture, Mary Beth Leonard, U.S. ambassador to Nigeria, said the funds were a commitment of the American people to improving the economic well-being and food security of all Nigerians.

She reiterated the US’ commitment to mitigating the adverse effect of the current global food crisis on the people of Nigeria.

“We strongly support Nigeria’s economic prosperity and well-being, and our decades-long partnership with the Nigerian government, the private sector, and NGO community to address the country’s most urgent development and humanitarian needs,” Leonard said. We empathize with the hardships and suffering of Nigerian citizens that have been exacerbated as a result of the Russian invasion of Ukraine and its negative impact on food security, and we fully expect President Biden’s initiative will significantly soften the blow of these war-related international price shocks

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