ADB TO PARTNER NIGERIA, OTHERS ON FERTILIZER SUPPLY
Written by awawa on April 22, 2022
The African Development Bank (AfDB) has disclosed its readiness to partner with Nigeria and other African Countries to eliminate high-cost of fertilizer, improve storage strength and address deteriorating infrastructures, all of which culminate in the high-price of food commodities across Africa.
Dr. Martin Fregene, Director of Agriculture and Agro-Industry at the African Development Bank has revealed that the bank as a financial institution is committed to improving sustainable economic development.
In addressing hike in price of food commodities, Fregene said that the bank is deciding to support resuscitation of facilities in the agricultural sector with a $100 billion dollars emergency fund.
He also emphasized the need for Africa countries to maximize local production that would reduce the importation of food crops like wheats and maize from countries like Russia and Ukraine.