The UK Foreign, Commonwealth, and Development Office (FCDO) has shown willingness to leverage £204 million in private sector loans and investment.

At a stakeholders’ meeting in Katsina on Monday, Mrs. Adiya Ode, Country Representative for Propcom+, a program financed by the UK FCDO, made this announcement.

“UK Aid runs an eight-year climate-resilient agricultural market development program called Propcom+,” she continues.

It seeks to promote economic growth for smallholders and SMEs in conflict and climate-affected areas. 

“We’re improving the resilience of smallholders and small-scale entrepreneurs to climate change while increasing productivity and incomes, reducing greenhouse gas emissions and maintaining natural ecosystems. The programme, which runs from 2023 to 2030, supports climate-resilient and sustainable agriculture and forestry that benefits people, the climate and nature.

“It also aims to transform Nigeria’s rural economy by addressing environmental, social and economic challenges in the country’s food and land-use system,” Ode said.

Ode explained that the programme will achieve this by increasing productivity, improving nutrition and food security, enhancing climate resilience, reducing emissions, and protecting nature.

“It will also help tackle some of Nigeria’s underlying drivers of conflict and insecurity, supporting sustainable, pro-poor, climate-resilient growth in selected rural markets.

She highlighted that Nigeria functions as a “market facilitator,” spotting barriers in market structures and facilitating reforms that benefit impoverished and climate-vulnerable smallholders and business owners in rural areas.

“Propcom+ seeks to improve the incomes and climate resilience of 3.79 million vulnerable and impoverished Nigerians, with women making up 50% of this population. Around £95 million was set aside for the programme, which aims to assist over four million people in embracing sustainable agricultural practices,” she continued. 

Source: TheGuardian