Project documents indicate that the Project is expected to have a positive developmental impact in Nigeria by supporting the expansion of a food manufacturer and processor. Nigeria is a net food importer with food imports estimated at more than $9 million per day. The Project will create more than 400 local jobs in a country facing high unemployment, which was estimated to be 23 percent in 2018. The Borrower makes manufactured foods that are available throughout Nigeria through a strong distribution network which includes 1,000 exclusive distributors, 10,000 subdistributors and more than 500,000 retailers, along with a 1,000 fleet of trucks to manage the inbound and outbound logistics. The Project aligns with Nigeria's Agriculture Promotion Policy that seeks to revive the agriculture sector and boost food production, which will help Nigeria achieve its UN Sustainable Development Goal 2 (Zero Hunger).
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