The United Kingdom Minister of State for Africa, Harriett Baldwin, has announced that the UK Department for International Development (DFID) would invest five million pound in PLANT programme at the Co-Creation Hub, Yaba, Lagos.
The Head of Communications, UK DFID in Abuja, David Smith, said in a statement that the minister made the announcement on Friday in Lagos.
"The minister announced a £5,000,000 investment through UK Aid and the Department for International Development.
"The programme, PLANT aims to deliver programmes, which increase and spread the use of new technologies in agribusinesses.
"This programme will be implemented in partnership with Technoserve and the British Council, which will bring a unique combination of skills in agricultural innovation and awareness.
"Over 200 agri-tech entrepreneurs and agribusinesses will be guided through a structured incubation process which will take their ideas to commercial scale and viability." she said.
Mr Baldwin said PLANT would contribute to Nigeria's long-term strategy to boost growth and productivity in the agricultural industry.
According to the statement, the minister toured the building and met inspiring, creative young Nigerians who were working to develop innovative means to improve vital services in Nigeria.
However, The Head of DFID in Nigeria, John Primrose, said the announcement of five million pound programme to boost technological innovation in agricultural businesses was truly exciting.
He said it was exciting because it would positively impact over 200 entrepreneurs in their work and also support Nigeria to achieve its long-term strategy and help to create a nation which is fit for the future.