AfDB, JICA Donate $244m for Food Production In Nigeria
AfDB President, Dr Akinwunmi Adesina, has disclosed that $244 million has been provided for emergency food production in Nigeria by the African Development Bank (AfDB) and the Japan International Cooperation Agency (JICA).
This was made known during the inauguration of the Special Agro-Industrial Processing Zones in Abuja. According to him, the bank’s African Emergency Food Production Facility provided 134 million dollars, while JICA provided 110 million dollars.
“I would like to thank the Japanese International Development Agency (JICA) for co-financing this with an additional 110 million dollars. That means we collectively made available 244 million dollars for emergency food production in Nigeria.We are delighted to also have a great partnership with the Islamic Development Bank, which is co-financing with 150 million dollars, and with the International Fund for Agricultural Development, which is co-financing with 160 million dollars. Together with our partners, we will work alongside the states and the Federal Government to help attract finance, support speedy implementation, and ensure that Nigeria unlocks its agricultural potential,” he said.
Speaking further, Adesina noted the need for more action, responsiveness, and delivery to avert the food crisis in the country. He added that there is more to be done to fully unlock the potential of Nigeria’s agriculture and promote the agribusiness sector.
He explained that the most critical role of any nation is to provide for and feed its people. His words: “Agriculture is critical for the survival of any nation. Food is a fundamental human right. Transforming agriculture must start with recognizing that agriculture is a business, a wealth-creating sector, not just a way of life. Unlocking wealth in agriculture requires the provision of appropriate technologies to boost productivity; the development of agricultural value chains; financial structure to support agricultural value chains; and investments in infrastructure to unlock investments by food and agribusiness. That is why the African Development Bank has inaugurated the development of Special Agro-Industrial Processing Zones (SAPZs)”.
He also said that the funds provided would provide infrastructure like power, water, roads, digital, and logistics, allowing food and agribusiness companies to be located within such zones.
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