By Mike ALADENIKA.
The multifarious global crisis caused by Covid -19 pandemic, the ongoing Ukraine-Russian war among other global challenges are taking their tolls on Africa to the extent that the continent is faced with gross hunger, unemployment and insecurity among other challenges.
This was the kernel of the Hearing and Testimony presented by the President, African Development Bank, Dr. Akinwumi ADESINA at the
U.S. Senate Appropriations Subcommittee on State and Foreign Operations.
Dr Adesina who titled his presentation “The Global Food Security and COVID-19 Crises: U.S. Response and Policy Options” said
"I would like to focus on feeding Africa and what the African Development Bank is doing to address the global food crisis."
He said "With an active portfolio of $60.35 billion in more than 140,000 locations, the African Development Bank is Africa’s only AAA- rated financial institution.
Our strategic High 5 priorities are to light up and power Africa, feed Africa, industrialize Africa, integrate Africa, as well as improve the quality of life for the people of Africa."
The AfDB president who had dedicated his professional life to realizing Africa’s potential through development have served Africa’s most populous nation Nigeria as the Agriculture Minister, and now the President of the African Development Bank Group – Africa’s premier and most trusted development finance institution informed the American Senate that
"Africa has an estimated 33 million smallholder farms. They are key to food production and the livelihoods of millions of more Africans whose work and lives are linked to the agricultural sector."
"Truth is, with America’s financing, the African Development Bank Group’s actions to boost harvests from Africa’s farms are achieving impressive results. For example, through our Technologies for African Agricultural Transformation (TAAT) program, our support reached 11 million farmers in 28 countries in little over two years."
"The program is delivering climate-smart seeds, fertilizers and technical support allowing farmers to harvest higher yields of wheat, corn, rice and other staples. African food production has increased by more than 12 million metric tons."
The former Nigeria's Agriculture Minister whom majority of Nigerians are calling upon to vie for "the country's Presidency said
"the economic shocks from the Russian war in Ukraine are causing all of us to pay more to put food on the table. The magnitude of food price increases and trade disruptions caused by the Russian-Ukraine conflict have hit Africa harder than other developing regions of the world, threatening to topple the continent’s food systems already stressed by the COVID-19 pandemic."
Dr. ADESINA however warned that
Africa must be prepared for the inevitable global food crisis as, according to him, "Ukraine exports 40% of its wheat and corn to Africa. According to the United Nations, 15 African counties import more than half of their wheat, and much of their fertilizers and oil from Ukraine and Russia. As the Russia-Ukraine conflict rages, Africa is also dealing with a 30-million metric ton loss of wheat and corn that won’t be coming from Russia, which has led to the cost of bread which has now gone beyond the reach of many Africans."
The Russia-Ukraine conflict is a huge factor in fertilizer prices hiking upwards of 300%. Our analysis is that Africa faces a fertilizer shortage of 2 million metric tons this year. We estimate it will cost about $2 billion dollars – at current market prices – to source new fertilizer to cover the gap.
"If we don’t mitigate this shortage rapidly, food production will decline by at least 20%. This horrific ‘perfect storm’ will see Africa lose more than $11 billion in the value of food production, according to our analysis.
"Without urgent and immediate global action, we may witness social and political unrest, as we have seen only too often in the past."
While appreciating the support of the United States of America in alleviating these challenges in Africa, Dr. Akinwumi ADESINA said
"the African Development Bank, with your support, is prepared to meet this new challenge and others head on.
The Agroeconomist said the AfDB is working hard to avert a looming food crisis as "We have developed an Africa Emergency Food Production Plan. Our $1.5 billion plan will be used to support African countries to produce food rapidly - produce 38 million metric tons of food in fact.
"The total value of the additional food production is $12 billion. The Africa Emergency Food Production Plan will deliver climate- resilient agricultural technologies to 20 million farmers.
"The $1.5 billion plan intends to source $1.3 billion of our own resources. With U.S. support to reduce the $200 million financing gap – we can ensure the Africa Emergency Food Production Plan’s success.
Dr. Akinwumi ADESINA informed the American legislators that "we are spearheading efforts for African solutions to Africa’s immediate, medium, and long-term challenges.
The strong support of the US for our Africa Emergency Food Production Plan will allow Africa to avert a looming food crisis and use the opportunity to drive structural changes in agriculture, to unleash the full potential of Africa to become a breadbasket to the world.
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