Vice President Yemi Osinbajo, on Monday in London, UK, said the lingering crisis between Russia and Ukraine should be a wake-up call for African states to prioritise self-sufficiency in food production.
He also said digitisation remains Africa’s best opportunity to make considerable progress in the global scheme of things.
Speaking specifically on the ongoing Russian-Ukrainian conflict, Prof. Osinbajo said apart from its consequences for international peace and security, the war has signalled a breakdown of the global order which emerged at the end of the Second World War and is a source of concern to many African countries who now have to steer their way delicately between major powers.
When the conflict began in February 2022, the price of wheat increased by 67 per cent from December 2021. Oil prices similarly went through the roof. The international price of oil averaged $100 per barrel in 2022 as compared to about $70 per barrel in 2021, the VP explained.
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