Plans to invest $15 million in Nigeria’s agriculture sector through agricultural commodities trading company Valency International have been completed by British International Investment, the UK’s development finance institution and impact investor.
This was revealed by BII in a statement on Tuesday, saying that the investment will allow for the expansion of infrastructure for processing and warehousing.
As to BII, the assistance would generate a maximum of 2,800 employment across the country for people with low incomes.
According to the organization, in addition to increasing agricultural output and exports, the fund will indirectly give 60,000 more smallholder farmers access to markets.
“The UK’s sustainable agriculture work in Nigeria helps mitigate greenhouse gas emissions and adapt to a changing climate, but strengthens livelihoods and improves nutrition, supporting food security and poverty alleviation,” UK Deputy High Commissioner Jonny Baxter said in reference to the investment.
“I’m happy to welcome this new investment from the UK to strengthen Nigeria’s food processing skills, which will lead to job creation across the country. We are eager to keep assisting Nigeria’s agricultural industry and the chances it presents for the country’s economic development.
