How Russia-Ukraine conflict impacts Nigeria's food systems
The conflict between Russia and Ukraine has had a spiralling effect on Africa's food systems, with supply chain disruptions causing prices of some commodities to rise by over 30 per cent. The African Development Bank recently warned of the threat to food security, while Africa's richest man Aliko Dangote suggested Nigeria should ban maize exports to avoid future scarcity this year. Akin Laoye, the CEO of FTN Cocoa Processors, and Kola Masha, the Managing Director at Babban Gona, join CNBC Africa to discuss how can we build food system that are resilient to external shocks.
Thu, 24 Mar 2022 12:19:06 GMT
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AI Generated Summary
- Highlighting the vulnerability of Nigeria's food systems to external shocks and the imperative of self-reliance in staple food production
- Emphasizing the importance of fertilizer availability and local production to enhance agricultural productivity and ensure food security
- Advocating for export restrictions, investment in infrastructure, and digital transformation to address post-harvest losses and empower smallholder farmers
The conflict between Russia and Ukraine has sent shockwaves across global food systems, with Africa feeling the impact through supply chain disruptions and rising commodity prices. The African Development Bank has sounded the alarm on the threat to food security, while Aliko Dangote, Africa's wealthiest individual, has proposed a temporary ban on maize exports to avert scarcity in Nigeria. Akin Laoye, CEO of FTN Cocoa Processors, and Kola Masha, Managing Director at Babban Gona, weighed in on CNBC Africa to discuss building resilient food systems in the face of external shocks. Kolomasha emphasized Nigeria's lack of self-reliance in staple foods, stressing the need for government support to enhance farmers' access to credit and quality inputs. He highlighted the significance of fertilizer availability, urging the government to prioritize local production and secure long-term supply contracts for imported raw materials like phosphates and potash. Akin Laoye echoed the call for a protectionist approach, advocating for export restrictions on staple crops to safeguard domestic food security. He underscored the importance of investing in education, land access, and property rights to drive sustainable agricultural practices in Nigeria. Both experts emphasized the critical role of addressing insecurity to ensure farmers' productivity and food security. They outlined key short-term measures such as improving financing options and infrastructure, including storage facilities, to minimize post-harvest losses and enhance market access. Kola Masha highlighted the transformative potential of digital technologies in addressing fragmentation in Nigeria's agriculture sector, enabling smallholder farmers to access support and financing through innovative solutions. The interview underscored the urgent need for coordinated efforts between government, private sector, and technological innovations to build robust and resilient food systems in Nigeria amidst global challenges. As the conflict in Europe continues to impact food security worldwide, proactive measures and strategic investments are essential to safeguard Nigeria's food systems and ensure sustainable agricultural development in the long run.
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