The African Development Bank has stated that $540 million Special Agro-Industrial Processing Zones will unleash the potential of food and agribusiness for Nigeria and Africa.
This was disclosed by Akinwunmi Adesina, President of the AfDB in a social media statement on Thursday.
The Special Agro-Industrial Processing Zones will be located in 7 States – Kano, Kaduna, Oyo, Ogun, Kwara, Imo, Cross River and the FCT.
Speaking about SAPZs, Adesina said, “This is the first phase of Special Agro-industrial Processing zones (SAPZs) in Nigeria. We are excited that many more states have now sent requests to join, just as we have from several African countries. SAPZs will unleash potential of food & agribusiness for Nigeria & Africa.”
Earlier this week, Adesina announced that the African Development Bank, alongside its partners, The International Fund for Agriculture Development and the Islamic Development Bank, mobilized $540 million for Special Agro-Industrial Processing Zones in 7 States (Kano, Kaduna, Oyo, Ogun, Kwara, Imo, Cross Rivers) & FCT.
The Special Agro-Industrial Processing Zones (SAPZs) is an integrated development initiative aimed at concentrating agro-processing activities within areas of high agricultural potential to boost productivity and integrate the production, processing and marketing of selected commodities.
Last year, the Vice President of Nigeria, Yemi Osinbajo revealed that the rolling out of the Special-Agro Industrial Processing Zones (SAPZ) Programme is set to commence in Ogun, Oyo, Imo, Cross River, Kano, Kaduna, Kwara, and the FCT in its first phase.
Partnering with the African Development Bank (AfDB) and other stakeholders, the programme will concentrate on agro-processing activities in demarcated areas to boost productivity and integrate production, processing and marketing of selected commodities.
The first phase, set to kick off soon, will involve 7 states: Ogun, Oyo, Imo, Cross River, Kano, Kaduna, Kwara, and the FCT. However, down the line, 140 of such centres will be created across the country.
