WACOT Limited, a member of Tropical General Investments Group (TIG), has secured about €1.26 million (about N2.25 billion) from DEG Impulse funding support to empower 3,500 smallholder sesame farmers in Nigeria.
The company, in a statement on Wednesday, indicated that the funding was received through the develoPPP funding programme of the German Federal Ministry for Economic Cooperation and Development.
Specifically, WACOT stated that under this arrangement, it will complement this funding with a counterpart funding of about €1.26m to support a three-year project aimed at empowering the concerned farmers to adopt organic and climate-resilient sesame farming in Jigawa and Kebbi States.
The latest initiative of the company will consolidate on the success recorded in its 2020 Organic Sesame Pilot Scheme, which recorded more than doubled average national yields and achieved international ECOCERT certification.
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The new project is expected to further support the sesame farmers with training, organic inputs, agroforestry, weather alert systems, and financial inclusion support.
A key component of the project is the company’s commitment to a 100% off-take agreement aimed at ensuring that the farmers receive premium prices for their certified organic harvest.
Speaking on the project’s funding, WACOT’s Managing Director, Naveen Chaurasia, explained: “This grant is a powerful validation of our commitment to sustainable agriculture and the smallholder farmers who are the backbone of Nigeria’s agricultural sector. By scaling our successful organic sesame model, we are not only securing a high-quality, traceable supply chain for our processing operations but, more importantly, we are directly improving the livelihoods of thousands of farming families.
“This project will double farmer incomes, enhance climate resilience, and significantly contribute to Nigeria’s non-oil export earnings. It is a true testament to TGI Group’s core philosophy of ‘earning the goodwill of the people”, Chaurasia added.
In her remarks, Head of Strategic Partnerships, TGI Group, Dr. Habiba Suleiman, said: “Strategic partnerships are crucial for driving meaningful and sustainable development. Our collaboration with DEG Impulse and BMZ exemplifies how aligning business interests with development goals creates powerful win-win outcomes.
“For TGI, this project reinforces our dedication to investing in rural communities and fostering economic development. We are proud to be at the forefront of promoting the adoption of organic farming and climate-smart practices in Nigeria, which inadvertently contributes to a healthier environment and a more prosperous agricultural future”, the expert added.
Commenting on the initiative, Managing Director of DEG Impulse, Marco Christ, clarified: “Through our joint develoPPP initiative, we empower smallholder farmers and contribute to poverty reduction in the region, while also supporting Nigeria’s non-oil export growth and environmental restoration. We are pleased to support the scaling of this important project through develoPPP, accelerating the adoption of sustainable farming practices and strengthening the supply chain.”
