U.S. Ambassador, Mary Beth Leonard, on Wednesday May 19, 2021 joined the Kebbi State governor, Sen. Abubakar Bagudu, and private and public-sector stakeholders committed to ensuring food security in Nigeria to launch a new co-investment partnership between the USAID-funded West Africa Trade & Investment Hub and the indigenous firm WACOT Rice.
The partnership promises to improve the livelihoods of smallholder rice farmers in the country, whose success is crucial to feeding a burgeoning population. Rice is a major staple in Nigeria, but production and supply in Kebbi State, a major producer of rice, has suffered a setback because of the COVID-19 pandemic.
The Trade Hub awarded the $1.48 million co-investment grant, which will allow WACOT to add 5,000 additional smallholder rice farmers into its special Argungu Rice Outgrower Expansion Project launched to increase local production.
The co-investment is expected to create thousands of new jobs, increase yields by more than 50 per cent, and help farmers earn more.
In her remarks, Ambassador Leonard highlighted the importance of partnering with the private sector to develop sustainable solutions to improve food security, reduce poverty, and create jobs, particularly for women.
“We know the challenges faced by women farmers in owning lands and accessing finances and inputs, despite women being key to making a significant impact for future generations. We hope this activity will improve the livelihoods of women farmers and their families in Kebbi State,” she said.
Ambassador Leonard and Governor Bagudu were joined at the event by Rahul Savara, Group Managing Director for Tropical General Investments, the parent company of WACOT Rice, and other notable stakeholders.