The U.S Agency for International Development (USAID) says it will provide $3 million in grant funding and technical assistance to youth-led and mid-stage companies working in food value chains in Nigeria.
USAID Mission Director, Anne Patterson, disclosed this in a statement.
The grant, which will be launched through a COVID-19 Food Security Challenge, is expected to open applications from April 12 to May 9, to the prospective beneficiaries.
The statement said: “Nigeria is experiencing food insecurity compounded by the COVID-19 global pandemic and its effects on the food value chain in the country.
“This assistance encourages private sector-led solutions to boost food production, processing, and create market linkage along the agriculture value chain in a sustainable way across Nigeria.”
“Successful applicants will present ideas that demonstrably help farmers and other stakeholders in the agricultural value chain increase agricultural productivity and food security within the next six months.
“The challenge will award 15 to 25 youth-led companies up to $75,000 each and award 10 to 15 mid-stage companies up to $150,000 each.
“Winners will receive funding and technical assistance to rapidly expand their activities to mitigate the effect of COVID-19 on Nigeria’s food value chain and improve the resilience of vulnerable households to the negative impacts of the pandemic.”