Naija Foodie Update

Foodie Naija Update (Nigeria Increased Food Production By 21m Tonnes In 4 Years)

Speaking at the seventh African agricultural science
week and FARA general assembly in Kigali, Rwanda, the former minister of
agriculture said Africa must bring technology into
farming.

“We must get technologies into the hands of farmers. As
late Nobel laureate, Norman Borlaug used to say ‘take it to
the farmers,’” Adesina said.

“I know the effects of this very well, as a former Minister of Agriculture in Nigeria. So powerful was the impact of
new agricultural
technologies, coupled with financing and private sector growth, that Nigeria
expanded its national food production by an additional 21 million metric tons within four years.

Africa now has several success stories that prove
that we can do it. Rwanda has drastically reduced the population that is
malnourished.

Kenya’s agriculture is pushing the frontiers on horticulture
globally.
“Ethiopia’s remarkable growth of its floriculture
market foot print globally is an amazing feat.

Senegal is well on its way to achieving
self-sufficiency in rice. Morocco and Algeria have shown great strides in
agricultural value chains exports to Europe.”

He also restated the
commitment of AfDB in improving agriculture in
Africa, adding that the bank was raising its agriculture
funding by 400% under his leadership.

We must urgently accelerate
commercial lending by banks and institutional investors into the agriculture sector.
Successful experiences in
Nigeria, Kenya, Tanzania, Ghana and Mozambique
show that with properly structured risk sharing
instruments, commercial banks will lend more to
agriculture, with lower risks of loss.

The ADB will be working with central Banks across Africa to set up risk sharing
facilities to help de-risk commercial bank lending to the sector. This will help raise
the profitability in the sector and greater private sector
investments.
Africa must feed Africa.

And the African Development Bank stands ready to fully
support Africa to do so. Africa must develop itself with
pride.

And there is no pride
for Africa without being able to feed itself.
“The African Development
Bank plans to invest about $24 billion (or $2.4 billion per
year) over ten years to help drive the agricultural
transformation of Africa.

This is a big deal for the Bank and a big deal for Africa. It
will represent a 400% increase in financing to the
agricultural sector by the Bank.”

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