The African continent is expected to spend $110 billion on food imports by 2025, according to Dr. Nizar Zaied, Head of Agriculture, Water Resources, and Rural Development at the Islamic Development Bank (IsDB). Speaking at the High-Level Workshop on Agricultural Transformation in Kano State (Nigeria), Zaied noted that Africa’s food import bill has risen significantly from $43 billion in 2019 to a projected $110 billion in 2025. He highlighted inefficiencies in the continent’s agriculture, with cereal yields being half those of India and a fifth of the U.S., despite Africa holding 60% of the world’s arable land and a young workforce.
Zaied also discussed IsDB’s efforts in supporting agricultural transformation, including the bank’s approval of $2.1 billion in financing for Nigeria, with $1.1 billion dedicated to project financing. He pointed out that while African farmers use too little fertilizer, leading to lower yields, other regions overuse it, contributing to environmental issues. Zaied emphasized the need for customized soil health solutions and IsDB’s Regional Soil Fertility program aimed at addressing these challenges.
He also mentioned recent successes, such as Ethiopia’s anticipated surplus wheat production, following efforts to develop new wheat and teff varieties. Additionally, Zaied noted Nigeria’s significant role in the IsDB, as one of the major shareholders since joining in 1999, with the bank having invested $267 million in Nigeria’s agricultural sector.
