Joel Ajayi

The event themed ‘Food Security Response: Combatting Illicit Financial Flows (IFFs) and Securing Asset.Returns for Sustainable Development was attended by President Muhammadu Buhari (GCFR), his counterparts from the continent, as well as strategic stakeholders in Socio-economic development.

According to the AUDA-NEPAD Boss, even with abundant human and mineral resources,  Africa’s large infrastrural  gaps are yet to be covered due to  annual loss of billions of  dollars to IFFs.

“Africa loses about US$88.6billion , annually in Illicit Financial Flows, which cripples Infrastructural development, especially in agriculture and food security.

 “Recognizing that combating IFFs is an essential development challenge, the United Nations passed a Resolution adopted by the 75th UNGA on Promotion of international cooperation to combat the menace and strengthen good practices on asset returns to foster sustainable development,” she said.

Akobundu gave some backgrounds to the theme of the 77th UNGAs special side event.

“”About 500 million Smallholder Farmers produce more than 80% of the food consumed in large parts of the developing world thereby contributing to food security and poverty reduction.

“Recently, the global food systems have been affected by population growth, unavailability and inaccessibility of arable land, poor water resources management, climate change, loss of biodiversity, conflicts, and above all Covid-19 pandemic, these factors trigger food insecurity, which calls for urgent attention.

“If Africa’s population and land space are productively harnessed, it’s challenges will not only be addressed but turned around for world economic boost and sustainable development,” she said.

She lauded African Leaders for declaring  2022 as the Year of Strengthening Resilience in Nutrition and Food Security on the Continent. Saying “it was in recognition of the need to address these challenges, which cannot be achieved without adequate financing”.
Akobundu also shared Nigeria’s experience and efforts in ensuring food security and eliminating IFFs.

“The aggressive Revolutional Agricultural Policy of President Muhammadu Buhari- led government has yielded great results in Nigeria’s Food Systems through various interventions and reforms which help in strengthening Smallholder Farmers among others. 

The Government of Nigeria is doing its best to reduce poverty in the country, but with a population of more than 200 million people and over 60% of this falls within the youth bracket.

 “There are tendencies for communities to be exposed to insecurity, restiveness, trafficking, migration, malnutrition among others, hence the need to put deliberate measures in place to forestall their occurrences.

“Under his government, Nigeria committed 4 million Hectares towards the restoration of degraded lands on the AFR100 initiative.

 “The ongoing Smallholder Farmers Project is poised to restoring 1 million Hectares of land because smallholder farmers significantly contribute to global food,” she said.

The Agency’s Boss also extended appreciation to members of Nigeria’s Federal Executive Council for supporting AUDA-NEPAD programmes in the country, while also lauded EFCC and other Departments and Agencies for consistent partnership on its  anti-corruption campaigns and other flagship programmes.

“The call for global financing and returns of Illicit funds to strengthen the food responses align with African Union- Comprehensive Africa Agriculture Development Programme (CAADP),” she noted.
Addressing the gathering, President Buhari said his government financed 2.5million smallholder farmers cultivating about 3.2million hectares of farmland across the country while also created 10million direct and indirect jobs. 

He said the efforts resulted in a significant decline in the country’s large food import bill, from $2.2billion Dollars in 2014 to $5.9million Dollars at the end of 2018,” he said.

President Buhari is actively participating at the 77th UNGA, his last before handing over in 2023 as the President of Nigeria,the most populous black nation in the world and a leading African state.

It will be recalled that AUDA-NEPAD Nigeria and EFCC have been organising the Special since the 73rd UNGA.Also, Akobundu-led AUDA-NEPAD Nigeria launched Initiative Strengthening of Smallholder Farmers Capabilities for Productive Land Restoration amid COVID -19 pandemic.

The event was attended by Nigerian State Governors , Prof. Ibrahim Gambari, Chief of Staff to President Buhari, Nigerian Ministers, heads of parastatals, funding and strategic partners, representatives of  heads of  nations,media and other stakeholders.

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