AfDB Group President Akinwumi Adesina Assures Nigeria of Bank's Strong Support

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Tuesday, October 19, 2021 / 04:25 PM / by AfDB Group / Header Image Credit: UK in Nigeria

Dr. Adesina and the Nigerian minister discussed means of tackling growing concerns about the country's food security

The President of the African Development Bank Group, Dr. Akinwumi Adesina, received a high-level Nigerian delegation led by the country's Minister of Agriculture and Rural Development, Dr. Mohammad Mahmood Abubakar on Monday.

The meeting follows on the heels of an address by Dr. Adesina last week at a mid-term ministerial retreat presided over by President Muhammadu Buhari.


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Dr. Adesina and the Nigerian minister discussed means of tackling growing concerns about the country's food security.

Adesina said the Bank's strategic support for Nigeria's food production would be hinged on five factors: support, scale, systemic, speed, and sustainability.

He added, "I want to assure President Buhari that the African Development Bank will provide his government with very strong support to tackle the country's food security challenges".

"Inflation in Nigeria is high, at 16% or more. Of course, the biggest share of the consumer price index is the price of food, at almost 65%. So, if we can drive down the price of food, of course, we can drive down inflation".

Adesina urged the Nigerian minister to concentrate on building the correct team and tactics to optimize the country's farming seasons. He said that dramatically increased food output will result in lower food prices, which will in turn lower inflation rates.

Abubakar said his consultative mission to Abidjan was at the instruction of President Buhari.

"Our mission is to examine ways Nigeria could enhance food production, lower food prices, and create wealth", the minister said.

Abubakar welcomed the Bank's proposed strategy and described it as a landmark one that would spur Nigeria's food supply production. "It will reverse the ugly trend of a sharp increase in prices of food in the country. I am pleased with the Bank's strategy to facilitate the production of 9 million metric tons of food in Nigeria, and to support us in raising self-sufficiency. The Bank's Special Agro-Processing Zones initiative is a laudable one and Nigeria is grateful".

Citing successes in Sudan, Adesina explained how the African Development Bank had supported the country with 65,000 metric tonnes of heat-tolerant wheat varieties, cultivated on 317,000 hectares.

"It took two seasons to do this", he said. "Change will not happen in years. You will see change in seasons. Sudan now produces 1.1 million metric tons of wheat. The same thing happened in Ethiopia in just two seasons with the production of 184, 000 hectares of wheat", he added.

In response to Bank successes in Sudan and Ethiopia, Abubakar said: "This gives me an additional measure of confidence. If you can do it in Sudan, you can equally do it in Nigeria. Not just in wheat, but also rice, maize, and soybeans".

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The African Development Bank will provide Nigeria with support through input delivery, including highly improved seeds and fertilizers to farmers, and an integrated input delivery platform.

Extensively discussed at the meeting was the Bank's Special Agro-Industrial Processing Zone initiative as an effective medium-term plan for revolutionizing Nigeria's agriculture value chain.

Adesina said: "The task, responsibility, and challenge of feeding Nigeria rests on your shoulders. You will receive maximum support from me, and the African Development Bank for the responsibility that President Buhari has given you. You will not be alone".

He added: "The Bank stands ready to fully support and help Nigeria in the next farming seasons. So, we must make sure things turn around. The president must succeed, and Nigeria must succeed. Agriculture must succeed".

Abubakar thanked the African Development Bank for its support and said the meeting gave him reassurances of what Nigeria can achieve with the Bank's support in the farming seasons ahead.

The minister also called for the Bank's support to recapitalize the country's Bank of Agriculture.

Both parties set up a task force team to develop a plan for accelerated implementation within the next 60 days.

Also at the meeting were a member of Nigeria's National Assembly, Hon. Munir Baba Dan Agundi, Chair of the House Committee on Agricultural Colleges and Institutions;  the African Development Bank's executive director for Nigeria,  Sao Tome and Principe, Dr. Oyebode Oyetunde; Vice President of Agriculture, Human and Social Development, Beth Dunford; Senior Special Advisor to the President of the Bank on Industrialization, Professor Oyebanji Oyelaran; Director-General of the Bank's Nigeria Country Office in Abuja, Lamin Barrow; the Bank's Director of Agriculture and Agro-Industries, Martin Fregene; the Director for Agricultural Finance and Rural Development, Atsuko Toda; and senior officials from Nigeria's Federal Ministry of Agriculture.


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