FG SECURES MORE AFDB FUNDING TO EXPAND AGRO-INDUSTRIAL ZONES
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By Sunmisola Shodayo
The Federal Government has obtained a strengthened financial commitment from the African Development Bank to implement the second phase of the Special Agro-Industrial Processing Zones initiative.
Vice President Kashim Shettima announced this in a statement on his official X account on Monday, revealing that the agreement was established during a bilateral discussion with AfDB President, Dr. Sidi Tah, on the periphery of the 80th Session of the United Nations General Assembly in New York last Friday.
He explained that the second phase of the SAPZ project is intended to enhance climate-resilient infrastructure and promote inclusive agro-industrial advancement across 24 additional states, thereby expanding beyond the initial eight states and the Federal Capital Territory included in the first phase.
Shettima further noted that the initiative aims to diversify Nigeria’s mono-product economy by increasing value-added agricultural exports.
In justifying Nigeria’s appeal for additional support, Shettima mentioned that the country remains the AfDB’s largest shareholder with a portfolio exceeding $10 billion.
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“We urge you to further support us in the Phase 2 Special Agro-Industrial Processing Zones (SAPZ). You assisted us with $300 million when you were in Liberia.
“We want to thank you, but like Oliver Twist, we are asking for more because we are poised to diversify our mono-product economy into agriculture, especially value-added agricultural export,” he remarked.
Media reports indicate that the SAPZ initiative, launched in 2022, is a flagship program of the AfDB in collaboration with the Federal Government, state governments, and development partners.
The first phase, executed in the Federal Capital Territory and seven states — Cross River, Imo, Kaduna, Kano, Kwara, Ogun, and Oyo — was supported by a $300 million AfDB facility.
The project established agro-industrial hubs aimed at attracting private sector investment in agro-processing, minimizing post-harvest losses, and enhancing market access for smallholder farmers.
It also sought to fortify value chains in essential commodities, improve food security, and generate employment for rural communities, particularly for youth and women.
With Phase 2 now poised to encompass an additional 24 states, it is anticipated that the initiative will further Nigeria’s agricultural transformation, encourage export diversification, and position the country as a significant participant in regional and global food supply chains.
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