AfDB MOBILISES $2.2 BILLION TO BOOST NIGERIA’S AGRO-INDUSTRIAL HUBS
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GREATRIBUNETVNEWS–African Development Bank Group has secured $2.2 billion in funding to drive the second phase of Nigeria’s Special Agro-Industrial Processing Zones initiative.
This commitment was made at the Africa Investment Forum in Morocco, where Nigerian state governors, multilateral development organizations, diplomats, and private sector investors gathered to show their support .
The new funding builds on the success of the first phase, scaling up investments that connect federal and state governments to critical agricultural infrastructure. Leading investors, including Arise IIP, Arab Bank for Economic Development in Africa, and Africa Export-Import Bank, participated in the boardroom session .
The project aims to create agro-industrial hubs that drive productivity, enhance food security, raise living standards, and create jobs. The Nigeria Special Agro Industrial Processing Zones (SAPZ) program, launched in 2022, focuses on integrating production, processing, and marketing activities .
Phase 1 of the SAPZ programme is already benefiting states like Imo, Cross River, Oyo, Ogun, Kaduna, Kano Kwara and Federal Capital Territory
The African Development Bank’s President, Akinwumi Adesina, described the initiative as a defining moment for Nigeria’s agricultural transformation. “The Nigeria SAPZ II project will create millions of jobs, empower smallholder farmers, and position Nigeria as a leader in agro-industrialisation,” he said .
