Business a.m
Nature’s Bounty Health Products (ReelFruit),a Nigerian-based company and the U.S. government recently marked the opening of a new 800-metric tonne dried fruit processing facility in Ogun State, Nigeria, showcasing the benefits of U.S-Nigeria agricultural partnership in promoting the country’s agricultural value chain.
The U.S. Agency for International Development’s (USAID) support for ReelFruit began in 2021, when the agency awarded the company a $500,000 co-investment grant through its West Africa Trade & Investment Hub project. The grant was intended to help restore the company’s supply chain, which had been disrupted by the COVID-19 pandemic.
ReelFruit’s partnership with USAID also involved a direct investment of $2 million from a private equity fund to complete the construction of the dried fruit processing factory. This increased the company’s processing capacity by almost 10 times, from 100 metric tonnes to 800 metric tonnes. The grant and investment allowed ReelFruit to expand its operations and create more job opportunities for local farmers and residents. In addition, it has supported 355 smallholder farmer networks across eight states in Nigeria, including Adamawa, Edo, Ekiti, Kaduna, Lagos, Niger, Ondo, and Oyo by providing training on good agronomic practices and directly purchasing their fresh fruit.
The trade hub focuses on improving the competitiveness of the private sector in Nigeria and West Africa by supporting local agriculture and promoting regional and international trade.These efforts are designed to increase the productivity and profitability of smallholder farmers, while also stimulating local economies and creating jobs. One of the Trade Hub’s primary goals is to help West African countries become more self-sufficient and reduce their reliance on imported goods.
Delivering remarks on behalf of the U.S. government, Sara Werth, USAID Nigeria’s deputy mission director, noted that in the past twenty-five years, the U.S. government has been investing in Nigeria’s economic growth, particularly the agriculture and agribusiness sectors.
“Our partnership and investment is made possible through a multisector strategy of engaging government, the private sector, and communities to empower and strengthen local capacitie,”Werth added.
Also speaking at the official launch of the factory, ReelFruit CEO Affiong Williams said, “Today marks a momentous occasion in the history of our company. We are proud to have commissioned the largest dried fruit factory in Nigeria, which serves as a testament to my long-term unwavering belief in Nigeria’s Agricultural and manufacturing opportunity.”
Williams assured that the company is going to process its range of dried fruits at scale, to serve customers across the country, as well as sell ‘Made in Nigeria’ to the rest of the world, creating hundreds of jobs, and positively impacting farmers.
