Current food situation unsustainable, FG tells IMF

Nigeria Minister of Finance, Zainab Ahmed recession values imf Fuel Subsidy
Minister of Finance, Zainab Ahmed

The Federal Government has raised the alarm that the current food situation in Nigeria and the continent is unsustainable.

Minister of Finance Budget and National Planning, Mrs. Zainab Ahmed raised the alarm at the ongoing virtual World Bank-IMF 2021 Spring meetings roundtable on food security in Africa.

Food security

Nigeria, like other countries, the Minister said: “has faced critical challenges in her drive for food security”.

These challenges, she said, affects “the upstream and downstream agricultural sector”.

She added: “The current food situation is unsustainable. We strongly believe that given the quantum of arable land in Africa, the time to change the global support to commercial agriculture is now”.

This situation she said “requires Foreign Direct Investment (FDI) flows into the agriculture value chain”.