Firm unveils $40,000 funding for entrepreneurs in agric value chain

Heifer Nigeria, has launched a $40,000 funding through the AYuTe Africa Challenge Nigeria 2024, an enterprise development programme designed to identify and support innovative, technology-driven and agric-centric enterprises in Nigeria.

Speaking at the unveiling in Abuja on Tuesday, Dr Lekan Tobe, Interim Country Director at Heifer Nigeria, noted that the challenge serves as a springboard for identifying outstanding young agritech innovators, as well as assisting in the formation of strong partnerships.

He said: “National competitions build on the regional competition which awards up to US$1.5 million each year to leading agritech innovators across Africa. This year, the AYuTe Nigeria is even more exciting as the prize money has been increased from $20,000 up to $40,000.

 “By doubling the prize money, we are deepening our commitment to supporting agritech innovation and youth entrepreneurship in Nigeria. We believe that this challenge will not only empower young entrepreneurs but also contribute to the transformation of the agricultural sector and the livelihoods of smallholder farmers,” he explained.

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Also speaking, communications manager at Heifer International, Chuba Ezeigwe, noted that “Nigeria is an import dependent economy and what Heifer is doing is to scale up production through the competition so we can able to scale up production and by extension, export to other countries and earn foreign exchange.”

Similarly, the winner of the previous edition of the challenge, Tajudeen Yahaya, who is the CEO of Extension Africa, while sharing his experience revealed that “The amount he won has impacted hugely on the agric value chain as over 1,000 agents now use their app to improve service delivery”