Nigerian Government launches Special Agro-industrial Processing Zones

On Oct 25, 2022

The Federal Government alongside the African Development Bank (AfDB), the Islamic Development Bank (IsDB) and the International Fund for Agricultural Development (IFAD) has launched the Special Agro-industrial Processing Zones (SAPZ) initiative for Nigeria in Abuja.

The SAPZ phase 1 implementation was announced at the launch and is focused on reinforcing Nigeria’s commitment to significantly reform its agricultural sector, create jobs, attain food security, and generate economic revenue.

(Left) Nigeria’s Vice-President, Prof. Yemi Osinbajo and the Minister of Agriculture and Rural Development, Dr. Mohammad Mahmood Abubakar (Right).

The first phase of the Nigeria SAPZ program is co-financed by key development partners to the tune of $538.05 million.

The AfDB is providing $210 million while the IsDB and IFAD will provide a combined fund of $310 million. The Nigerian Government is also contributing $18.05 million.

The programme is expected to increase the value of commodities such as rice, cassava, cocoa, diary, beef, soybeans among others, in various states including the Federal Capital Territory.

For his part, President of the AfDB, Dr. Akinwumi Adesina, noted it was high time government at all levels funded the Special Agro Industrial Processing Zones with all seriousness.

Responding on behalf of the participating states, the Governor of Cross River State, Benedict Ayade, called on stakeholders to ensure proper implementation of the project.

Source: Agro Nigeria