in February has added to volatility in financial markets, sending commodity prices higher and affecting logistics, potentially derailing the economic recovery from COVID-19 in many countries including Nigeria.
"Our analysis indicates that the war in Ukraine is only making things worse, setting in motion a three-dimensional crisis that is devastating global food, energy and financial systems for developing countries," Guterres told reporters during a maiden visit to Abuja, Nigeria's capital. "There is really no true solution to the problem of global food security without bringing back the agriculture production of Ukraine and the food and fertilizer production of Russia and Belarus into world markets despite the war," he said.He said the United Nations had called for an extra US$351 million as part of the overall US$1.1 billion for the humanitarian response plan for Nigeria.
Nigeria had to buy emergency supplies of Canadian potash in April after it was unable to import the key fertiliser from Russia due to the impact of Western sanctions, the head of Nigerian sovereign investment authority NSIA said. Last month, the International Monetary Fund said the Russian invasion of Ukraine had delivered a further"huge negative shock" to sub-Saharan Africa, driving food and energy prices higher and putting the most vulnerable people at risk of hunger.
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