Prizes in Nigeria Pilot Exceed Projections

March 1, 2018

hands holding kernels of corn

As of February, AgResults made its final prize payment for Year 3 of the Nigeria Aflasafe Pilot. We awarded a total of US $674,355 in prizes for 39,212MT of maize aggregated maize that was verified to be treated with Aflasafe. This is a significant increase from the US $518,359 prize payments and 29,848 MT of aggregated maize from the prior year. The 30% increase in prize payouts is an exciting update for the Nigeria Pilot and the overall AgResults Initiative.

The project faced some growing pains, with private sector aggregators facing significant challenges in access to finance that would allow them to grow. These financial constraints forced AgResults to revisit projections of the pilot in its early years. However, as aggregators adjusted to the requirements of the pilot, created better operating models, and increased their operations, aggregation levels have rebounded to reach the original levels foreseen in the business plan.  

AgResults expects Year 4 of the pilot will be another impressive year of aggregation with a projected 75,000 MT of Aflasafe™ treated maize aggregated, equating to US $1,400,000 in prizes. In addition to the increased projections, the Pilot paved the way for a new project to scale Aflasafe™ to 11 countries in Africa.

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