President Bola Tinubu of Nigeria has blamed bad governance and limited access to finance for food insecurity in Africa.
Tinubu spoke at a high-level event held on the sidelines of the 78th United Nations General Assembly on Thursday.
The event was themed, ‘Attracting Investments in Land Restoration, Food Systems, and Rural Transformation in Africa’.
Tinubu who was represented by Abdulaziz Yar’Adua, senator representing Katsina central district, said that bad governance has led to conflicts and political instability in some African countries, which has disrupted agricultural production and food distribution.
Tinubu also said that limited access to finance is a major challenge for smallholder farmers in Africa.
He said that only 300 out of the 774 local government areas in Nigeria have bank branches, and that many farmers have to travel long distances to access financial services.
The president called on investors to recognize the potential of Nigeria and other African countries, and to invest in agriculture and rural development.
He said that this would help to improve food security and create jobs.
He also revealed that the Nigerian government is doing everything possible to support smallholder farmers, including providing access to finance, infrastructure, and technology.
He also said that the government is working to improve the investment climate in the agricultural sector.