Feed the Future Nigeria Agribusiness Investment Activity Annual Report Y1

The five-year USAID-funded project focuses on three interrelated components: improving the ease of doing business in the agricultural sector, broadening access to finance by mitigating the credit risks of agribusinesses, and promoting investment opportunities for agribusinesses to expand and scale up operations. The project will connect and integrate thousands of micro, small, and medium enterprises (MSMEs) and producer organizations with other high-performing commercial actors in the rice, maize, soybean, cowpea, and aquaculture value chains. The project will facilitate $200 million in new lending and $100 million in new investment across the five crops in the seven designated focal states. The engagement of women and youth in the agribusiness sector is also emphasized. The project will increase the competitiveness and returns of both large- and small-scale agricultural enterprises through streamlined regulations, more effective policies, improved production and processing practices, and significantly increased finance and investment flows. The project's geographic coverage includes Nigeria's Benue, Cross River, Delta, Ebonyi, Kaduna, Kebbi, and Niger states. The value chain coverage includes aquaculture, cowpea, maize, rice, and soybean. The project's reporting period is from December 17, 2018, to September 30, 2019. The project's goal is to increase the quality, quantity, market access, and diversification of Nigeria's agribusiness sector, in line with the U.S. and Nigerian Government's commitment to growing the non-oil-based economy. The project's three components are designed to work together to achieve the project's goal. Component 1, Improving the Ease of Doing Business, focuses on analyzing and reforming select legal and regulatory constraints to make it easier for agribusinesses to operate in Nigeria. Component 2, Broadening Access to Finance, aims to mitigate the credit risks of agribusinesses by providing them with access to finance and other financial services. Component 3, Promoting Investment Opportunities, focuses on promoting investment opportunities for agribusinesses to expand and scale up their operations. The project will achieve its goal through a combination of technical assistance, capacity building, and financial support. The project will work with a range of stakeholders, including government agencies, private sector companies, and civil society organizations, to achieve its objectives. The project's expected outcomes include increased private sector investment in agriculture, improved access to finance for agribusinesses, and increased competitiveness and returns for both large- and small-scale agricultural enterprises. The project's implementation will be led by CNFA, with support from subcontractors Connexus and JE Austin Associates. The project's major counterpart organizations include the Federal Ministry of Agriculture and Rural Development, the Nigerian Investment Promotion Commission, and seven focal state governments. The project's geographic coverage includes Nigeria's Benue, Cross River, Delta, Ebonyi, Kaduna, Kebbi, and Niger states. The project's value chain coverage includes aquaculture, cowpea, maize, rice, and soybean. The project's reporting period is from December 17, 2018, to September 30, 2019. The project's goal is to increase the quality, quantity, market access, and diversification of Nigeria's agribusiness sector, in line with the U.S. and Nigerian Government's commitment to growing the non-oil-based economy. The project's expected outcomes include increased private sector investment in agriculture, improved access to finance for agribusinesses, and increased competitiveness and returns for both large- and small-scale agricultural enterprises. The project's implementation will be monitored and evaluated through a range of indicators, including the number of agribusinesses that have received technical assistance and capacity building support, the amount of finance that has been provided to agribusinesses, and the increase in private sector investment in agriculture. The project's progress will be reported quarterly to USAID, and the project's final report will be submitted to USAID at the end of the project's five-year period. The project's budget is $15.6 million, which will be used to support the project's implementation over the five-year period. The project's budget includes funding for technical assistance, capacity building, and financial support, as well as funding for project management and administration. The project's budget will be managed by CNFA, with support from subcontractors Connexus and JE Austin Associates. The project's expected outcomes include increased private sector investment in agriculture, improved access to finance for agribusinesses, and increased competitiveness and returns for both large- and small-scale agricultural enterprises. The project's implementation will be led by CNFA, with support from subcontractors Connexus and JE Austin Associates. The project's major counterpart organizations include the Federal Ministry of Agriculture and Rural Development, the Nigerian Investment Promotion Commission, and seven focal state governments.