President of the African Development Bank (AFDB), Dr Akinwumi Adesina, at the 50th anniversary celebration of the International Institute of Tropical Agriculture (IITA) in Ibadan on Monday, said AFDB would invest $24 billion in Agriculture in Africa in the next 10 years.
Adesina, said the bank will work with IITA in order to unlock the possibilities in the agricultural sector, and transform it into a business that is capable of feeding the continent within a period of 10 years.
“At the core of this, is getting technologies to millions of farmers and the bank has developed the Technologies for African Agricultural Transformation (TAAT) together with IITA and other centers as a technology platform.
“AFDB and the World Bank expect to invest up to $800 million in TAAT which will be launched this year,’’
“This is to help take high yielding technologies to farmers for an African green revolution” he added.
Also speaking, the Director General of IITA, Dr Nteranya Sanginga recalled that it had recorded success in the last 50 years, and attributing the success to the contribution of former President, Obasanjo and Gen Yakubu Gawon to IITA in the country.
The former agriculture minister, Akinwumi Adesina said that IITA had contributed so much to agriculture across Africa and in Nigeria in particular, while showing a high level of honesty, integrity and transparency.
“Its cowpea varieties supply the beans on our markets and the soybeans varieties led to the soya beans revolution in Nigeria.
“While its work on cassava and yam still form the core of Nigeria’s cassava and yams value chain transformation, IITA’s work on alley-farming sparked global interest in sustainable agriculture.
“Its landmark breakthrough on biological control which saved Africa from the devastating cassava mealy bug that had wiped out all its cassava was globally recognised.’’
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