FG, AfDB Strengthen Tie on Enhancing Food Security, Others
Nigeria’s Finance Minister, Wale Edun, met with a high-level delegation from the African Development Bank (AfDB) today in Abuja to explore potential areas of collaboration. The meeting, led by Dr. Abdul Kamara, Director General for Nigeria at the AfDB, focused on initiatives to strengthen food security, the Special Agro-Industrial Processing Zones (SAPZ) project, and other strategic engagements to promote sustainable economic growth and development in Nigeria.
The Minister highlighted the critical role of AfDB’s funding and technical expertise, especially as Nigeria approaches a pivotal harvest season. This season is essential for the country’s food security and economic stability. Dr. Kamara commended President Bola Ahmed Tinubu’s economic reforms, emphasizing their importance in tackling Nigeria’s pressing economic challenges.
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The AfDB has already shown its commitment to supporting Nigeria’s agriculture sector with a $134 million investment aimed at enhancing food production. This investment will support the cultivation of 300,000 hectares of rice and maize, 150,000 hectares of cassava, and 50,000 hectares of soybeans during the 2024 planting season.
The Bank’s mission is to promote sustainable economic development and social progress in regional member countries. Its strategy for 2024-2033 focuses on five key areas:
– Light Up and Power Africa: Accelerating access to universal, reliable, and affordable modern energy
– Feed Africa: Strengthening food security through agricultural transformation
– Industrialize Africa: Promoting industrialization and economic diversification
– Integrate Africa: Enhancing regional integration and connectivity
– Improve the Quality of Life for the People of Africa: Supporting human development and social progress.
As Nigeria navigates the challenges of food security and economic development, the AfDB’s support and expertise will play a vital role in shaping the country’s economic future.
