Nigeria borrows $134 million to boost farms as famine looms

Published 2024년 11월 14일

Tridge summary

Nigeria has secured a $134 million loan to invest in farming to address a looming hunger crisis, as the country's population continues to grow and is facing severe food insecurity. The loan, announced by the Minister of Agriculture and Food Security, Abubakar Kyari, will be used to boost the production of staple foods such as wheat, rice, maize, sorghum, soybean, and cassava. This comes in the wake of a report warning that the number of Nigerians facing acute food insecurity could rise from 25 million to 33 million by 2025, due to factors like violence, climate change, deforestation, economic crisis, and high food price inflation.

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Original content

(MENAFN- The Peninsula) AFP Lagos: Nigeria has secured a 134-million-dollar (127-million-euro) loan to invest in farming, the government said on Thursday, as Africa's most populous nation faces a hunger crisis of staggering proportions. According to a statement, Minister of Agriculture and Food Security Abubakar Kyari said the money would support an ongoing plan to boost staples like wheat, rice, maize, sorghum, soybean and cassava. With Nigeria's fast-growing population now at least 220 million, strengthening the role of agriculture in the oil-exporting nation's economy is a key goal of President Bola Tinubu's government. But Nigeria is still facing a terrible food crisis, according to a stark recent warning in a report from UN agencies, aid NGOs and Nigerian government experts. Last week's update from the "Cadre Harmonise" team said 25 million Nigerian already face "acute food insecurity" and the figure is expected to rise to 33 million in 2025. Northern ...

Source: Menafn