Africa Development Bank Invests $25bn To Transform Africa Agricultural Sector
LAGOS JANUARY 30TH (NEWSRANGERS)-African Development Bank(ADB) is spearheading efforts to feed Africa and is investing $25 billion over a ten-year period to transform the continent’s agriculture sector.
President of Africa Development Bank , Akinwumi Adesina made the disclosure as he was conferred with an Honourary Doctorate of Science by the Federal University of Agriculture in Abeokuta, Ogun State, Nigeria, on Tuesday, in honor of his work in agriculture and food security across the continent.
“What Africa does with food will determine the future of food, given that 65% of the arable land left to feed the world is here”, Adesina said.
“I am
delighted to see so many of our young people engaged in agriculture arising
from the Youth Employment in Agriculture initiative launched when I was
minister to get the youth into agriculture as a business. From their
innovations in the use of drones, food processing, packaging, transport and
logistics and marketing, they are already unlocking the opportunities in
agriculture,” he said.
He urged agricultural universities to optimize their role in linking research,
innovations and technologies to farmers and the food and agriculture industry.
Adesina commended the Nigerian government’s efforts to promote agriculture and agribusiness in Nigeria.
“Agriculture is the most important profession and business in the world,” Adesina said.
The
Bank head pledged to continue the work of transforming Nigeria’s agriculture
sector.
“The size of food and agriculture in Africa will rise to $1 trillion by 2030.
The population of Africa, now at 1.2 billion, will double to 2.5 billion by
2050. They all must eat. And only through food and agribusiness can this be
achieved,” he added.
“Africa’s
youth must become leaders to help feed our world,” he advised.
Lauding
the choice of Adesina as the institution’s 2020 awardee, the Chancellor, Edidem
Ekpo Okon Abasi-Otu, described him as a global household name whose exploits in
promoting value chain addition in agricultural produce have remained
unparalleled.
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