The African Development Bank (AfDB), has disbursed $1.5 billion Emergency Food Production Facility to support food sufficiency in Nigeria and 33 other African countries.
The President of the AFDB, Dr. Akinwunmi Adesina, who stated this in Abeokuta, when he paid a visit to the Ogun State Governor, Dapo Abiodun, 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 skyrocket.
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.
Adesina, while also noting 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 mobilize $30 billion in support of food and agriculture delivery compact of countries in Africa.
“Because of the war in Ukraine by Russia which actually sent prices of wheat and maize skyrocketing, all over the world, we have global inflation because of that and therefore, the impact of that is going to be quite serious for our houses, particularly, low income households.
“The African Development Bank has put in place immediately a $1.5 billion Emergency Food Production Facility that is currently now supporting 34 countries, with 20 million farmers to produce roughly 38 million metric tons of food valued at $12billion.