Buhari stops Nigeria’s Central Bank from issuing foreign exchange for food imports
20 September 2020 | 7:13 am
These are trying times for Nigeria's economy, as an expected recession means the government has to take pro-active steps to mitigate the impact of the recession and recover in the shortest period. Meanwhile, President Buhari has asked the Central bank of Nigeria to stop issuing foreign exchange for food and fertilisers imports. Andrew Nevin, Partner and Chief Economist at PwC Nigeria joins CNBC Africa’s Kenneth Igbomor to assess the state of the Nigerian economy.
African Union leaders are meeting in Equatorial Guinea. Inflation and war in Ukraine are increasing food prices across Africa. Four AU member states are suspended because of coups.
Addressing the global food crisis stemming from the pandemic and Russia's war on Ukraine, the assistant director-general of the UN's Food and Agriculture Organization (FAO) said there will be no famine but definitely a food shortage for quite some time, especially for countries with low production capacity.
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We take a look at how the war in Ukraine is sending the price of wheat skyrocketing and how mines along the Black Sea could keep grain shipments stuck for six months. We also look at reactions to Matthew McConaughey's speech about gun violence – an emotional appeal using a murdered child's green Converses. We also dive into Disney weddings, from the company's apology over a viral video to choosing Mickey and Minnie over catering.
Amid a growing food crisis sparked by disrupted grain exports from Ukraine and Russia, the EU's ambassador to Ukraine Matti Maasikas told FRANCE 24 that exports by land more than doubled between April and May, from 600,000 tonnes to 1.5 million tonnes.
Traders across various markets in Nigeria have lamented the fast-growing inflation as food prices have continued to record an exponential growth in price. GuardianTV went to the market to speak with both sellers and buys about how expensive things have become.
A new, Russian-owned chain of restaurants has opened in Moscow, with its owner aiming to reopen hundreds of McDonald's venues across Russia under the new brand.
Germany sees massive dip in Russia exports, uptick in China imports. Despite trying to wean itself off of Russian energy imports, Germany is paying record prices for them. At the same time, Berlin has built up a large import surplus with Beijing.
A desperate lack of funding has forced the World Food Programme to suspend some food aid in South Sudan just as the country needs it most. We speak to the WFP's acting country director, Adeyinka Badejo. Also, survivors of one of the most brutal extremist attacks in Burkina Faso say that government forces left them helpless. At least 79 people were killed in the massacre in Seytenga on Saturday. And there are calls for an extension of MINUSMA's mission in Mali after this week's UN Security Council briefing.
The conflict has cut off supplies from Ukraine's ports, which once exported vast amounts of cooking oil as well as cereals such as maize and wheat. This has reduced the global supply and caused the price of alternatives to soar. Global food prices are almost 30% higher than the same time last year, according to the UN.
Ghana's gourmet chef Elijah Addo is reducing food waste and feeding those in need. Once employed by high-end restaurants, Addo today runs West Africa's largest foodbank, and organizing mobile feeding campaigns has become his full-time job.
Egypt's Minister of International Cooperation, Rania A. Al-Mashat, granted an interview to FRANCE 24 in Ivory Coast's economic capital Abidjan. Although the war in Ukraine is threatening Egypt's food security, the minister believes that "pre-emptive action" undertaken by Cairo in the past few years will help "mitigate" the impact of a possible wheat shortage. Al-Mashat also called for the COP27 climate summit in the Egyptian resort of Sharm el-Sheikh in November to be one turning of "pledges" into "implementation".
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