AfDB Advocate Lower Food Prices, Increased Production in Nigeria
CHIGOZIE AMADI
The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has called on Nigeria to intensify efforts to increase food production, reduce dependence on imports, and lower food prices. The speaking during the inauguration of a soybean plant and refinery by CSS Global Integrated Farms in Gora, Nasarawa State, Adesina highlighted the urgency of tackling hunger exacerbated by rising food costs.
The AfDB helmsman pointed to the potential of local farmers to meet the country’s food needs. Reflecting on his tenure as Minister of Agriculture under former President Goodluck Jonathan, he noted:
He said, “The price of rice at the time was N8,000 per bag. Today, it is over N100,000 per bag. Nigeria needs bold programs and policy support for its farmers to reverse this trend.”
He emphasized the importance of supporting agribusinesses across the entire agricultural value chain, from production to processing, packaging, and market supply.
Adesina lauded CSS Farms for its contribution to food security and agricultural business development, particularly among Nigerian youth. The newly commissioned refinery, which can produce 10,000 liters of soybean oil daily, marks a significant achievement.
“The refinery is a milestone for Nigeria’s agricultural sector. It will help reduce the country’s crude soybean oil imports, which amounted to $62.2 million in 2023,” he said.
Adesina also highlighted the AfDB’s role in transforming Nigeria’s agriculture through the development of Special Agro-Industrial Processing Zones (SAPZ). He revealed that the bank and its partners are implementing a $538 million program in seven states, including Cross River, Imo, Oyo, Ogun, Kaduna, Kano, and Kwara, as well as the Federal Capital Territory.
“A second phase is planned to cover the remaining 28 states, with a financing target of $1 billion, involving the AfDB, Arab Bank for African Economic Development, and the private sector,” Adesina stated.
At the recent Africa Investment Forum in Rabat, Morocco, the AfDB mobilized $2.2 billion in investment interest for the SAPZ program, he added.
The founder of CSS Farms, Prof. John Okpara, detailed the farm’s growth from a one-hectare plot to 1,750 hectares in six years, employing over 1,450 workers. The farm produces soybeans, maize, cassava, rice, and other crops while processing them into various value-added products.
Okpara shared plans to establish an agricultural university aimed at empowering students to launch agro-related businesses. “Every student who passes through the university will be equipped to create their own agricultural enterprise,” he said.
