Dr. Akinwumi Adesina, the President of the African Development Bank (AfDB) Group, has advised the leadership of Nigeria, and that of other countries on the continent, to rapidly expand their food production.
Speaking at the Atlantic Council’s Africa Center while answering questions from the Council’s Africa Center Chair, Ambassador Rama Yade; Senior Fellow Aubrey Hruby; and Washington/UN correspondent for Jeune Afrique and The Africa Report, Julian Pecquet, the AfDB chief expressed an opinion that for African countries, including Nigeria, to avert food crisis occasioned by the ongoing war between Ukraine and Russia, they need to expand their food production.
“Speaking about the impact of the Russia-Ukraine war, Adesina expressed sympathy for the people of Ukraine, describing their suffering as unimaginable. He said the war’s ramifications spread far beyond Ukraine to other parts of the world, including Africa. He explained that Russia and Ukraine supply 30% of global wheat exports, the price of which has surged by almost 50% globally, reaching identical levels as during the 2008 global food crisis. He added that fertilizer prices had tripled, and energy prices had increased, all fueling inflation.
“Adesina warned that the tripling costs of fertilizer, rising energy prices, and rising costs of food baskets, could worsen in Africa in the coming months. He noted that 90% of Russia’s $4 billion exports to Africa in 2020 were made up of wheat, and 48% of Ukraine’s near $3bn exports to the continent were made of wheat and 31% of maize.
“Adesina cautioned that to fend off a food crisis, Africa must rapidly expand its food production,” a statement in which the AfDB chief was quoted to have addressed the global food crisis that is further triggered by the war in Ukraine.
