The Federal Government has secured an enhanced funding commitment from the African Development Bank to operationalize the second phase of the Special Agro-Industrial Processing Zones.
This project aims to scale up climate-resilient infrastructure and inclusive agro-industrial growth across 24 states, expanding from the initial eight states and the Federal Capital Territory. The SAPZ Phase 2 is designed to diversify Nigeria’s mono-product economy to value-added agricultural exports.
Vice President Kashim Shettima made this known during a meeting with Sidi Tah, President of the AfDB, on the sidelines of the 80th Session of the United Nations General Assembly in New York.
Shettima emphasized Nigeria’s potential in agriculture, stating, “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 highlighted Nigeria’s fertile soil and development-oriented youth population, saying, “And we have the potential in all the agro-ecological zones in Nigeria. From the mangrove forest swamps in the south to the Sahelian region in the far north, you can virtually grow anything. In states like Kebbi, the soil is very fertile.”
Shettima also noted that Nigeria boasts a resourceful youth population eager to be co-opted into the workforce of the 21st century.
The Vice President implored the AfDB President to support innovation-driven enterprises beyond MSMEs, citing Nigeria’s thriving digital sector. “We can catalyse and accelerate the digital space in Africa. Already, out of the eight unicorns in Africa, five are from Nigeria – Moniepoint, Jumia, and the rest. We want to once again reiterate that we are with you, we are for you, and we will stand by you.”
Minister of Environment Balarabe Lawal sought support for the Pan African Great Green Wall Initiative, particularly Nigeria’s Great Green Wall Project, to combat desertification.
“I want to appeal for the extension of your support to Nigeria’s National Agency for the Great Green Wall,” he said.
Lawal added that the agency is responsible for containing desertification in the Sahelian part of Africa and addressing environmental degradation in 11 frontline states.
Minister of Housing and Urban Development Ahmed Dangiwa appealed for funding to address Nigeria’s housing deficit, stating that the housing sub-sector needs substantial funding.
AfDB’s President assured that under his leadership, the bank will provide Nigeria with the necessary support for human capital development.
The AfDB President outlined his vision for the bank, saying, “My vision for the bank is not as a lending institution, but as a catalyst institution with which to mobilise resources and capital from all over the world to Africa. I hope we can really bring capital to the continent to make the transformation of our continent possible and bring value to the agricultural sector.”
His four cardinal points include mobilizing large-scale capital, reforming Africa’s financial architecture, converting the demographic dividend into economic strength, and industrializing Africa.
In a separate meeting, Vice President Shettima and Prime Minister of St. Kitts and Nevis Terrance Drew recommitted to strengthening economic and cultural ties.
Shettima assured Drew of President Bola Ahmed Tinubu’s determination to rekindle friendship and brotherhood between both nations, stating, “Going forward, we should have robust engagement and understanding. We should stand by each other. We should stand for one another. We should support each other’s interests.”
