Ngozi Okonjo-Iweala warns that African countries face food crisis as a result of Russia/Ukraine war

WORLD Trade Organisation (WTO) director-general Dr Ngozi Okonjo-Iweala has warned that Nigeria and many African countries may face a food crises  later on this year due to the effects of the Russia-Ukraine War.

According to Dr Okonjo-Iweala, a recent report by the Africa Development Bank indicated` that the war in Ukraine posed a severe challenge to Africa because of its heavy reliance on cereals imports from both Ukraine and Russia. She also warned that the war would have global dimensions because of the amount of food that Russia exports.

Furthermore, Dr Okonjo-Iweala stated that Russia is the biggest exporter of fertiliser, wheat and maize to many African countries and stressed that the prices of the two grains have gone up by up to 62% and 36% respectively since the beginning of the war. She also disclosed that the price of soyabeans by has risen by 29% while fertilizers prices have risen globally by 300%.

Dr Okonjo-Iweala said: “What is being done by the Africa Development Bank shows that in many African countries, including Nigeria, food prices have risen by 20%, which is huge. So, my worry is that we have a food crisis that is brewing and it could become worse if nothing is done about it."

As the conflict between Ukraine and Russia rages, it has raised concerns about the vulnerability of global supply chains. This had led to calls in some quarters to re-locate production and sourcing locally in several countries in order to ensure the stable supply of critical goods and staples.

Experts are also calling for greater international cooperation on trade to minimise the impact of supply crunches for key commodities where prices are already high by historical standards and to keep markets functioning smoothly. Countries that are heavily dependent on imports are particularly vulnerable to this crunch.