An American company, Loop-Core LLC, in collaboration with Youths Off The Street Initiative (YOTSI), a non-governmental organization, has secured a $25 million investment in a farm project in Osun State.
The project which is meant to provide job opportunities for unemployed youths would be developed in collaboration with Cade Creek International, also an American firm based in Colorado.
YOTSI, a non-partisan, humanitarian socio-political movement of young Nigerians both home and in the diaspora, has the goal to work among themselves and with other global supporters, in facilitating socio-economic opportunities for young Nigerians to contribute to national development.
It also plans to give them a loud voice and a broad political platform, to influence a functioning democracy and a government accountable to citizens.
The organization works with young individuals, families, and communities to help lift them out of extreme poverty, fight injustice and become the agents of their own development.
Last year, the organization in a concerted move to raise money and invest in agricultural projects to help address Nigeria’s high youth unemployment, it launched a $12.5 million international fund-raising campaign in London.
Comrade Kennedy Iyere, president and chief executive officer of YOTSI told the LEADERSHIP in an interview that he took the steps after he realized that Nigerian youths lacked the funds to turn their skills and business ideas into realities.
Iyere said: “Youths Off The Street $12.5 million fundraising campaign is an international project operating through the platforms of philanthropy, charity, profit-generating business and financial investment in sourcing and raising funds to support Nigeria’s youth enterprise in agriculture, food production and other key sectors of the economy.”
He disclosed that the effort has yielded positive results.
The LEADERSHIP reports that the project started in 2017, when Loop-Core’s President, Chigozie Obi led a team of American Companies to Nigeria to attend the “Nigerian Agri-Food Investment Forum.
Months after the forum, a meeting was held in Atlanta USA and jointly attended by the CEO of Loop-Core LLC, Chigozie Obi; CEO of Cade Creek International, Pat Alley and the President/CEO of YOTSI, Comrade Kennedy Iyere, where it was resolved to include Cade Creek International in the on-going farm projects in Nigeria, especially the farm project at Ifon in Osun State.
LOOP-CORE, became the first American company to team up with YOTSI in facilitating an agri-food business investment in Nigeria. The Osun farm project is evaluated to gulp $25 million which when fully in operation is projected to create 6,000 jobs for youths, young adults, women, and men across the State of Osun and for citizens from different parts of Nigeria.