AFC Explains How Africa Can Improve Food Production, Reverse $50bn Spent on Imports
- President of the Africa Finance Corporation (AFC), Samaila Zubairu has called on leaders across Africa to address food production in the continent
- Zubairu complained about the huge sum Africa spends on food imports, instead of channelling the monies to other causes
- He explained strategies the presidents of countries in Africa can apply to improve food production and storage
Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.
Africa spends over $50 billion on food imports, indicating a core problem with the agriculture system in the continent and a heavy dependence on imports.
Chief Executive of the Africa Finance Corporation (AFC), Samaila Zubairu, called on presidents across the continent to unify efforts to address these issues.
Zubairu noted that the bulk of these imports include oils and staples like cereals and grains, all food items that can be grown within Africa.
Source: Getty Images
Speaking at the Africa Business Forum 2025 held in Addis Ababa, Ethiopia, themed “From Potential to Prosperity, Activating Regional Value Chains”, Zubairu lamented that these heavy imports drain foreign exchange reserves that could have been better used to fortify the continent’s economy from external shocks.
He noted that it is a serious problem that leaves African countries vulnerable to supply chain disruptions, and volatile global food prices.
The AFC President added that the current situation could get worse in coming years if nothing is done.
He lamented;
“Currently, over 282 million Africans experience undernourishment, with millions more facing moderate to severe food insecurity. This alarming statistic is particularly striking when one considers the continent’s available resources.”
Africa to improve food production
Mr. Zubairu called for a different approach to food production, to enable the continent to achieve self-sufficiency.
He said;
“Agriculture is the backbone of most African economies. It contributes significantly to gross domestic product (GDP), with up to 22 percent of GDP in some countries and employs over 60 percent of the population. However, the sector remains plagued by low productivity, which is the lowest in the world.”
According to a report from The Nation, Zubairu noted that even though Africa had more than 60% of the world’s uncultivated lands, agriculture faces huge challenges with even smallholder farmers unable to access credit and insurance to expand their businesses.
Addressing post-harvest losses, other challenges
Zubairu called for investments into cold storage, good road networks, and other value-added infrastructure to reduce post-harvest losses and end the food security crisis.
The AFC president noted that if the losses could be curtailed, Africa could be closer to solving food insecurity.
He said:
“In Nigeria, for example, AFC’s partnership with the Nigeria Sovereign Investment Authority (NSIA) is developing modular warehouses and cold storage solutions to preserve crops after harvest. Scaling up this type of infrastructure across the continent can ensure that the food produced is not wasted and can be stored for later consumption or processing.”
Recall that the Nigerian government signed a Memorandum of Understanding (MOU) with Brazil to advance private sector development in fertiliser production, hybrid seed technology, and agricultural finance.
FG to boost food production
In related news, Legit.ng reported that the federal government announced a new initiative to help boost food security in the country.
The initiative, which is the brainchild of the Federal Ministry of Agriculture and Food Security, is called ‘Operation Empty the Stores.’
The plan is to distribute equipment and inputs to farmers nationwide to increase food production, thus increasing food supply and crashing prices.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
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