Vice President Yemi Osinbajo, on Monday in London, United Kingdom 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.
Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed this in a statement on Tuesday titled ‘How Africa can prosper in an increasingly complex world, by Osinbajo.’ However, the more immediate and consequential fallout of the war are the sharp hikes in the prices of food, especially wheat, sunflower oil, fuel and fertilizer.
“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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