The Federal Government of Nigeria, in collaboration with the African Development Bank, will officially launch Phase One of the Special Agro-Industrial Processing Zones programme, supported by a $538 million investment.
According to a statement from the AfDB on Sunday, groundbreaking ceremonies for the first phase will take place on April 8 in Kaduna State and April 10 in Cross River State.
This major initiative, the largest single-country programme by the AfDB, will be spearheaded by Nigeria’s Vice President, Kashim Shettima, alongside AfDB President, Dr. Akinwumi Adesina.
“The initiative is being launched at a critical time as Nigeria intensifies efforts to diversify its economy and combat rising food insecurity,” the statement read. “Kaduna and Cross River States will lead this agricultural transformation, marking a pivotal shift in Nigeria’s approach to agribusiness and food security.”
According to the bank, “With an unprecedented investment of $538 million, SAPZ Phase 1 marks the African Development Bank’s largest programme in any African country to date, underscoring the scale and significance of this undertaking.
The SAPZ initiative embodies President Tinubu’s commitment to strengthening food security, generating sustainable employment opportunities, and revitalizing peri-urban economies through innovative public-private partnerships.”
The statement further emphasized that private sector partners would be responsible for designing, developing, and operating these zones, creating a sustainable model for agro-industrial growth.
“This launch is expected to catalyse momentum for SAPZ Phase 2, with an additional 28 states already positioned to participate in this agricultural renaissance.
“The recent Africa Investment Forum in Rabat, Morocco, saw the bank secure an unprecedented $2.2 billion commitment for the Nigeria Phase 2 SAPZ, indicating strong confidence in the programme’s potential.
“Lessons learned from the initial phase will be crucial for accelerating the implementation of this next stage, “it said.
The SAPZ initiative tackles Nigeria’s $4.9 billion annual food security challenge and the significant losses from food insecurity each year. It stands as both a crucial developmental priority and an economic necessity for the country.
Designed to position Nigeria as a global agribusiness leader, the programme strategically utilizes co-financing and the specialized expertise of the private sector.
He further emphasized that transformation without agricultural transformation is incomplete because agriculture touches the lives of people at the grassroots level.
