The African Development Bank (AfDB) said it has put in place a $1.5b emergency food production facility to support food sufficiency in Africa.
The President, Dr. Akinwumi Adesina, 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, yesterday.
He said 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 said the food facility would support 34 countries and 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 also noted 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 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. Therefore, the impact of that is going to be quite serious for our houses, particularly, low-income households.
“The AfDB has put in place immediately a $1.5 billion emergency food production facility. So, I am pretty confident we are not going to have a food crisis as a result of the war in Ukraine,” Adesina said.
While commending the governor for the Agro Cargo Airport project, set to be commissioned in the first quarter of 2023, the AfDB President noted that having a cargo airport in the state would facilitate the development of agricultural value chain in Ogun.
He said: “The cargo airport is an excellent idea, because when you produce agricultural commodities, you would not only be able to store it, you have to be able to process it and you have to be able to transport it.
“And I think having a cargo airport would just facilitate the development of agricultural value chain right here in Ogun State. It is a very excellent idea and I have always supported it from the start.”