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Nigeria Partners AfDB and IITA on $300mn Youth Agribusiness Scheme


The Ministry of Agriculture and Rural Development has announced that it is collaborating with the African Development Bank (AfDB) and International Institute of Tropical Agriculture (IITA) on an initiative to provide 4,000 young graduates with $75,000 each to boost agriculture in Nigeria. The initiative, to be known as the Enable Youth Empowerment Agribusiness Programme, will be funded by the AfDB with $300 million, and is expected to create 250,000 jobs. Speaking through the Director of Information, Tony Ohaeri, on Wednesday, the Minister of Agriculture and Rural Development, Chief Audu Ogbe, said, “A total of $300 million would be accessed to cover the three year project which would bring young graduates together and train them for 18 months as entrepreneur farmers." The minister said the programme will be implemented with three Nigerian universities, Federal Universities of Agriculture, Makurdi, Benue State; Federal Universities of Agriculture, Abeokuta, Ogun State and Michael Okpara University of Agriculture, Umudike, Abia State. He said the universities should go back to emphasizing the mandate with which they were created. The three specialized universities of agriculture were established by the Federal Government of Nigeria. Some of the objectives, apart from awarding undergraduate and graduate degrees, is to promote teaching and research in agricultural knowledge and extension services. The institutions are to identify Nigeria's agricultural problems and find solutions in the context of national development. While expressing concern about the high rate of youth employment in the country, the minister stated that the country needs to reinvent its own strategy for reviving the economy. The youth agriculture scheme was presented to the minister by the AfDB, Africa's premier development finance institution, and IITA, which works with partners to bring solutions to hunger, malnutrition and poverty. AfDB's Director of Agricultural and Agro- Allied Industries, Dr. Chudi Ojukwu, stated that the scheme will enhance training and funding of young graduates across the country who have interest in farming. “The initiative would create 250,000 jobs; the beneficiaries would be trained at various incubation centres on all aspects of value chains, with each beneficiary of the project supported with about US$75,000,” Ojukwu said. “The project would cover the 36 states including the FCT, while the Agricultural transformation Agenda (ATA) would be expanded through the processing zones.” Dr. Nteranya Sanginga, IITA’s Director-General, pledged the institution’s readiness to support the ministry. - See more at: http://www.financialnigeria.com/nigeria-partners-afdb-and-iita-on-300mn-youth-agribusiness-scheme-news-280.html#sthash.DvCjyse2.dpuf


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