AFDB approves $134m fund for Nigeria’s emergency food production

The African Development Bank Board of Directors has approved $134m for Nigeria to implement an emergency food production plan. AfDB President Akinwumi Adesina said talks are also ongoing for a $1.7bn economic and budget support loan as well as the launch of a $1bn agro-industrial process in 28 states. Adesina made the disclosures during an interview with journalists in Lagos on Monday. Adesina told journalists in Lagos that AfDB had pledged to support Nigeria through this period, disclosing that several agricultural initiatives should yield about five million metric tons of wheat, rice, cassava, and maize this year for the country. He exuded confidence that the development bank would work with the Nigerian government to proffer solutions to the problems confronting Africa’s biggest economy.