The Nigerian government has successfully secured a renewed funding commitment from the African Development Bank (AfDB), which will be used to expand the second phase of the Special Agro-Industrial Processing Zones (SAPZ) programme.
The initiative will now extend to 24 additional states, up from the initial seven states and the Federal Capital Territory.
According to Stanley Nkwocha, Senior Special Assistant to the Vice President on Media & Communications, on Sunday, the pledge followed Vice President Kashim Shettima’s meeting with AfDB President Dr Sidi Ould Tah in New York during the 80th United Nations General Assembly.
Launched in October 2022 by then Vice President Yemi Osinbajo, the SAPZ programme aims to tackle food insecurity, boost agricultural exports, and generate millions of agro-industrial jobs within a decade.
The first phase covered Kano, Imo, Kaduna, Cross River, Kwara, Oyo, Ogun, and the Federal Capital Territory, with financing from AfDB, the Islamic Development Bank, IFAD, and the Nigerian government.
Vice President Shettima emphasised Nigeria’s potential to diversify its mono-product economy through agriculture, particularly value-added exports.
He highlighted the country’s fertile agro-ecological zones and youthful population as key assets.
Shettima also urged AfDB to support innovation-driven enterprises, including digital economy ventures, noting Nigeria’s position as home to five of Africa’s eight unicorn companies.
In response, Dr Sidi Ould Tah reaffirmed AfDB’s commitment to Nigeria, describing the bank as a catalyst for Africa’s transformation rather than merely a lending institution.
He outlined four strategic priorities: mobilising large-scale capital, reforming Africa’s financial architecture, converting the continent’s demographic dividend into economic strength, and industrialising Africa by harnessing natural resources.
During the meeting, Nigeria’s Minister of Environment, Mallam Balarabe Lawal, requested AfDB support for initiatives combating desertification and deforestation through the Pan African Great Green Wall Initiative.
Similarly, Minister of Housing and Urban Development, Alhaji Ahmed Dangiwa, appealed for assistance to address Nigeria’s housing deficit.
