AfDB Plans $1.5bn Food Facility for Nigeria, Others

The African Development Bank (AfDB) has said it has put in place a $1.5 billion emergency food production facility to support food sufficiency in Africa.

The President, AfDB, Dr. Akinwunmi Adesina, who stated this in an interview at the Governor’s Office, Oke Mosan, Abeokuta, when he paid a visit to the Ogun State Governor, Dapo Abiodun, on Monday, noted that the facility became imperative as a result of the ongoing war between Ukraine and Russia which had seen prices of wheat and maize rise.

Adesina added that the emergency food production facility would be supporting 34 countries, with 20 million farmers producing roughly 38 million metric tons of food valued at $12 billion.

He expressed confidence that Africa would not have a food crisis as a result of the war in Ukraine.

He disclosed that a Feed Africa Summit in Dakar, Senegal, which had about 34 heads of state in attendance, including President Muhammadu Buhari of Nigeria, was able to mobilise $30 billion in support of food and agriculture delivery compact of countries in Africa.

Agency Report