Connect with us

News

USAID awards Nigerian firm N592m grant to boost agriculture

Published

on

USAID Logo
Share

 

The United States Agency for International Development (USAID) has awarded N592 million grant to a Nigerian firm, LoftyInc Allied Partners Limited to enhance investment in agriculture.

Mr Michael Oluwagbemi, the Executive Partner of LoftyInc, said this in a statement on Monday.

Oluwagbemi said the money was a co-investment grant by the USAID-funded West Africa Trade and Investment Hub (Trade Hub).

According to him, the grant is aimed at inaugurating “Project Sparrow”, an initiative developed to reduce the risk of local and global investments in selected agribusiness and agritech companies in Nigeria.

He said that it would help the selected companies achieve higher productivity, better returns, inclusive growth and access to finance.

“Through assistance provided to these companies, Project Sparrow will achieve its overall goal of supporting the improvement of Nigerian smallholder farmers’ productivity and livelihoods in the U.S. Government’s “Feed the Future States” and select value chains.

“Project Sparrow is expected to positively impact more than 50 direct beneficiaries and a total of 25,000 smallholder farmers while creating 4,000 jobs,’’ he said.

Oluwagbemi added that in celebration of the project and its expected outcomes, LoftyInc had hosted a kick-off inauguration for the project in Abuja.

“The event brought together all stakeholders and leaders of agribusinesses in Nigeria, and staff representing financial institutions and other businesses that will support Project Sparrow.

“They include the Development Bank of Nigeria, the Nigeria Sovereign Wealth Investment Authority, the First City Monument Bank Plc, and Afrilabs,’’ he said.

He assured that LoftyInc was an innovation development company that supports start-up teams, innovation enterprises and social impact projects in Africa.

“The organisation is on a mission to contribute to the enhancement of lives by creatively investing in ideas and entrepreneurs, while positively changing the broader society.

“Access to funding has always posed a major challenge to innovative agric-focused start-ups and MSMEs in the country.

“The need to provide a solution to this challenge led to LoftyInc’s foray into innovation acceleration, angel investment, and venture capital, as well as microfinancing that provides various kinds of funding to novel business solutions covering various sectors of the economy,’’ he said.

The executive partner also said that Project Sparrow would provide incremental financing of 6.5 million dollars to more than 20 Micro, Small, and Medium Enterprises (MSMEs), most of which would be women or youth-led.

According to him, such support will make them better prepared for external funding.

Also speaking, Robin Wheeler, the Trade Hub’s Chief of Party, said he looked forward to seeing the long-term impact Project Sparrow would have in Nigeria.

“The Trade Hub and LotfyInc share the common goal of supporting small and medium-sized businesses to be drivers of economic growth in Nigeria.

“Project Sparrow represents an innovative and strategic way to accomplish this goal through not only giving high-potential companies much-needed access to finance, but the technical assistance and training needed to succeed as well. We are proud to support this project,” he said.
.
The Trade Hub is a USAID-funded initiative.

It was designed to catalyse economic growth by collaborating with the private sector to generate new investment, create new jobs, and increase the value of regional and international exports in West Africa.

 

 

(NAN)

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Bamidele: 2026 Electoral Act Reflects Stakeholders’ Consensus, Not Legislative Imposition

Published

on

Senate Leader, Senator Michael Opeyemi Bamidele
Share

The Leader of the Senate, Opeyemi Bamidele, has stated that the provisions of the 2026 Electoral Act were the outcome of broad consultations with stakeholders rather than unilateral decisions by the National Assembly.

In an Easter message issued on Sunday through his Directorate of Media and Public Affairs, Bamidele explained that the new electoral law aligns with global best practices and was not designed to serve any political interest. He urged political actors to adhere to the rules collectively established to ensure stability, peace, and order within Nigeria’s democratic system.

His remarks come amid criticisms from opposition parties, particularly the African Democratic Congress (ADC), which alleged that certain provisions—such as Sections 77 and 84 of the Act—were introduced to weaken their chances ahead of the 2027 general elections. However, Bamidele dismissed the claims, insisting that all sections of the law were products of consensus involving civil society groups, development partners, and other stakeholders.

He defended the requirement for political parties to submit a digital register of members to the Independent National Electoral Commission (INEC), describing it as a transparency measure aimed at preventing undue influence by individuals outside party structures. According to him, the reform is essential for strengthening internal democracy and ensuring that party decisions reflect the will of legitimate members.

Bamidele also justified the restriction of candidate nomination processes to either direct primaries or consensus arrangements, noting that the move is intended to eliminate the delegate system, which he said had been susceptible to manipulation by wealthy individuals. He added that the new system empowers party members and reinforces majority rule in line with democratic principles.

Beyond electoral matters, the Senate leader condemned recent violent attacks in Plateau and Kaduna states, describing them as unacceptable acts against innocent citizens. He assured that the National Assembly is collaborating with federal and state authorities to tackle insecurity and prevent further loss of lives.

He disclosed that ongoing legislative efforts, including amendments to the Terrorism (Prevention and Prohibition) Act, are aimed at introducing stricter penalties for kidnappers, their sponsors, and collaborators. Bamidele expressed confidence that these measures would help restore security and stability across the country.

Reflecting on Easter, Bamidele called on Nigerians, especially political leaders, to embrace the values of sacrifice, tolerance, and unity exemplified by the resurrection of Jesus Christ, urging a collective commitment to nation-building.

Continue Reading

News

FG to Deploy AI Cameras to Tackle Insecurity in Plateau — Tinubu

Published

on

President Bola Tinubu
President Bola Ahmed Tinubu
Share

 

President Bola Tinubu has announced that the Federal Government will deploy over 5,000 artificial intelligence-enabled digital cameras across Plateau State to help security agencies combat rising insecurity.

The President made this known on Thursday during a visit to Jos, following the March 29 gun attacks in Angwan Rukuba, Jos North Local Government Area, which claimed several lives. He assured residents that such incidents would not recur, pledging decisive action to bring perpetrators to justice.

Tinubu directed security chiefs, including the Minister of Defence, Chief of Army Staff, and Inspector General of Police, to track down those responsible for the killings. He also tasked the Minister of Communications and Digital Economy, Bosun Tijjani, with overseeing the immediate installation of the surveillance system, starting in Jos and later expanding across the state.

Expressing sympathy to affected families, the President said no compensation could replace lost lives but promised government support and justice. He also directed the Ministry of Humanitarian Affairs to compile data on victims to ensure fair distribution of relief.

Plateau State Governor Caleb Mutfwang described the incident as a temporary setback, noting that the state had previously enjoyed relative peace. He expressed confidence in ongoing security efforts and thanked the Federal Government for approving the recruitment of 1,000 forest guards to strengthen local security.

Stakeholders at the meeting, including former governors and political leaders, called for greater collaboration and dialogue among Plateau indigenes, stressing that lasting peace would require collective responsibility.

Continue Reading

News

El-Rufai Returned to ICPC Custody After Court Appearance in Kaduna

Published

on

Former Kaduna State Governor,Nasir El -Rufai
Share

Former Kaduna State governor, Nasir El-Rufai, has been returned to the custody of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) following court proceedings in Kaduna.

El-Rufai, who had earlier left custody on March 27, 2026, due to the death of his mother, was re-arraigned on Tuesday.

He first appeared before the Kaduna State High Court over a separate charge filed by the ICPC. However, proceedings were stalled due to the absence of the second defendant, prompting the court to adjourn the case until April 10, 2026.

Following the adjournment, El-Rufai was taken to the Federal High Court in Kaduna, where his application for bail was scheduled to be heard.

The court had earlier fixed March 31, 2026, for the hearing of his bail application.

Continue Reading