Public Management

G7 commits $382 million to remedy food security in northeast Nigeria

G7 commits $382 million to remedy food security in northeast Nigeria
Friday, 09 July 2021 15:59

The G7 group, an inter-governmental political forum including Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, is committing $382 million to tackle the increasing food crisis and famine in the Northeast region of Nigeria.

This was disclosed on Thursday, July 8, 2021, in Abuja during a meeting held by Catriona Laing- the British High Commissioner to Nigeria- alongside stakeholders and the federal government to launch the G7 Famine Prevention and Humanitarian Compact.

“We are deeply concerned about the humanitarian situation in the North East where 8.7 million people need assistance, and 1.9 million people have been displaced because of the conflict, with another 300,000 having fled to neighboring countries,” said Catriona Laing. “The G7 has agreed to urgently provide an initial $7 billion in humanitarian assistance. This includes $382 million desperately needed in Nigeria’s North East,” she added.

According to a report by the United Nations, “One year after the declaration of the COVID-19 pandemic, the outlook for 2021 and beyond is grim. Conflict, pandemic-related restrictions fuelling economic hardship and the persistent threat of adverse weather conditions will likely continue driving food crises.” 

The G7 group’s Famine Prevention and Humanitarian Crisis Compact reported that 237 million people will be needing humanitarian assistance this year. Countries that are at immediate risk of famine - South Sudan, north-east Nigeria, and Yemen will be priorities. However, countries such as Tigray in Ethiopia, Burkina Faso and the Central Sahel, the Democratic Republic of the Congo, Sudan, Haiti, Afghanistan, and Syria are also a point of focus.

In this light, the G7, in addressing the financing gap, aims to provide an initial $.1.5 billion of humanitarian and related resilience-strengthening support to the three countries at risk of famine -$382 million to Nigeria, $341 million to South Sudan, and $800 million to Yemen. All three financings will be disbursed as soon as possible.

Closing the financing gab to tackle food insecurity is one aspect to be fixed. In this regard, the UN Secretary-General António Guterres, stated: “Conflict and hunger are mutually reinforcing. We need to tackle hunger and conflict together to solve either…We must do everything we can to end this vicious cycle.”

Solange Che

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Visa says premium cards already widely adopted in Senegal Training aims to help banks better target and serve high-end clients Strategy focuses on...
71% of consumers say lending rates remain non-competitive across African markets. Over 54% of respondents cite a lack of transparency on interest...
Pilot to expand SME financing via crowdfunding Project introduces crowdlending, investing to address limited bank credit FOGEC to guarantee...
Lomé hosts conference on expanding insurance access for low-income groups Stakeholders discuss microinsurance solutions for informal and rural...
Most Read
01

Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...

African fintechs are moving beyond payments - and into business operations
02

The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...

West Africa Targets Diaspora Funds With New Banking Access Rules
03

UBA UK, BII sign intent to expand trade finance in Africa Partnership targets funding gaps for in...

UBA, British International Investment explore Africa trade finance deal
04

Ghana to submit UN resolution on slave trade March 25 Draft seeks recognition as gravest crime ag...

Ghana pushes UN recognition of slave trade as crime against humanity
05

ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...

ECOWAS, China Discuss Cooperation on West Africa Power Projects Under $36.39B Plan
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.