Business News of Friday, 4 October 2024
Source: www.punchng.com
The African Development Bank plans to produce an additional 120 million tonnes of food by 2025.
This announcement was made by the Director General of the AfDB Nigeria Country Department, Abdul Kamara, during a side event at the 2024 West and Central Africa Regional Wheat Summit in Abuja on Thursday.
He emphasised the urgent need for enhanced wheat production in West and Central Africa.
The summit, themed “Prioritising Policy, Innovative Technologies, and Investments in Wheat Transformation towards Sustainable Food Security and Economy”, highlighted the critical issues facing the region’s agricultural sector.
Kamara noted the rising demand for wheat driven by population growth and urbanisation.
Despite this demand, he pointed out that domestic production had not kept pace, leading to heavy reliance on imports.
According to Kamara, the recent geopolitical tensions, particularly the conflict between Russia and Ukraine, have further exacerbated this situation, increasing vulnerability in the region’s food supply.
In response to those challenges, Kamara outlined the AfDB’s Feed Africa initiative, launched in 2016.
He said the 10-year strategy aimed to transform agriculture across the continent into a competitive agribusiness sector.
“The Feed Africa’s Technologies for African Agricultural Transformation is a major initiative that aims to boost agricultural productivity in all parts of Africa. This will produce an additional 120 million tons of food and lift 130 million people out of poverty,” he stated.
He added that the initiative was designed to assist over 40 million farmers by 2025, aiming to double the productivity of crops, livestock, and fisheries.
“Wheat is a staple food for millions across Africa and plays an essential role in ensuring food security and driving economic growth,” he noted.
Kamara urged a shift towards self-sufficiency, saying, “We must work towards reducing this import dependency and bolster local wheat production to secure our region’s food future.”