Saturday, December 21, 2024
32.6 C
Lagos

AfDB Approves $1.5bn Fund to Avert Food Crisis in Africa

The African Development Bank (AfDB) has approved the sum of $1.5 billion to support African countries to avert an impending food crisis on the continent as a result of the Russia-Ukraine war.

Dr. Akinwumi Adesina, President of the African Development Bank Group said: “Food aid cannot feed Africa. Africa does not need bowls in hand. Africa needs seeds in the ground, and mechanical harvesters to harvest bountiful food produced locally. Africa will feed itself with pride for there is no dignity in begging for food…”

According to the Bank, the $1.5 billion strategy will lead to the production of 11 million tons of wheat; 18 million tons of maize; 6 million tons of rice; and 2.5 million tons of soybeans.

Dr. Beth Dunford, the African Development Bank’s Vice President for Agriculture, Human and Social Development, said: “The Africa Emergency Food Production Facility builds on lessons learned from the African Development Bank’s Feed Africa Response to Covid-19 program. That program has provided a strategic roadmap to support Africa’s agriculture sector and safeguard food security against the pandemic’s impact.”

spot_img
spot_img
spot_img

Hot this week

PenCom Targets N22tn Pension Contributions by End 2024

The National Pension Commission (PenCom) says it expects pension...

PalmPay, Jumia Launch Holiday Campaign to Reward Users

This holiday season just got a whole lot more...

Adekunle Gold, Wande Coal, Young Jonn Set to Thrill Fans at Lagos Shopping Festival

Lagosians are in for the most exciting music extravaganza...

Mediacraft Associates Continues to Blaze the Trail in Awards

  Group CEO Voted ‘Legend of Marketing Comms’ John Ehiguese, CEO...

Committee of Banks in Nigeria Donates Multimillion Naira Relief Materials to Jigawa Flood Victims

The Committee of Banks in Nigeria on Thursday lifted...

Topics

NAICOM Seeks Synergy with CBN, NCC, SEC on Fintech, Financial Inclusion

L-R: The President, Guild of Corporate Online Publishers (GOCOP),...

NCC, NAICOM, PenCom, SEC, NEM, Dangote, Stanbic IBTC, STI for Business Journal 15th Anniversary Lecture

The Business Journal 15th Anniversary Lecture/Awards scheduled for Friday,...

‘Tax Burden in Nigeria is Real’

Dr. Uche Olowu President/Chairman of Council Chartered Institute of Bankers of...

500m Africans Subscribe to Mobile Services

More than half a billion people across Africa are...

INEC: Anambra Gov Election on Course as 81, 778 PVCs Ready for Collection

The Independent National Electoral Commission (INEC) met on Tuesday,...

NCRIB Commiserates with Victims of Collapsed Building, Seeks Need for Insurance

The Nigerian Council of Registered Insurance Brokers has condoled...

N1tr Fine: NCC Issues November 16 Deadline to MTN

The Nigerian Communications Commission (NCC) says it has issued a November 16, 2015 deadline to MTN Nigeria to pay the N1 trillion penalty it imposed on the mobile operator for failing to disconnect 5.2 million unregistered SIM cards on its network. Mr. Tony Ojobo, Director, Public Affairs of NCC told the AFP: “The deadline set for the payment of the fine is November 16.” “The key issue is if MTN breached the law or not. Certainly, there was a breach. And if there is a breach, we will apply the law.”

IWD: Unity Bank, AltSchool Africa Partner to Empower Female Software Engineers

In commemoration of International Women’s Day, IWD 2022, Nigeria’s...
spot_img

Related Articles

Popular Categories

spot_imgspot_img