International financial organization AfDB joins forces with partners to pool $2.2 billion, aiming to substantially grow agro-industrial zones across 24 Nigerian states.
The African Development Bank (AfDB) has announced a significant investment of $2.2 billion towards the implementation of the second phase of the Special Agro-Industrial Processing Zones (SAPZ) across 24 states in Nigeria. This initiative, aimed at revolutionizing Nigeria's agriculture sector, was disclosed by the outgoing President of AfDB, Dr. Akinwumi Adesina, at the 2025 Standard Chartered Bank Africa Summit in Lagos.
The SAPZ initiative, which is a key part of the AfDB's strategy for Africa's agricultural transformation, will focus on value chain development and industrialization. The first phase of SAPZ, launched in eight states including Ogun, Oyo, Cross River, Imo, Kaduna, Kwara, Kano, and the Federal Capital Territory, was designed to boost food production, reduce post-harvest losses, and attract agro-industrial investments.
Adesina emphasized the need for investments to unlock the agricultural potential in Nigeria and Africa, particularly for value addition to agricultural commodities. He further highlighted the importance of developing industrial platforms that would allow the continent to move up the agricultural value chains.
The AfDB is not alone in this endeavour. Co-financing for the development of SAPZ comes from the International Fund for Agricultural Development, the Islamic Development Bank, Japan International Cooperation Agency, and the West African Development Bank.
The second phase of SAPZ, to be implemented across 24 states, is expected to create thousands of direct and indirect jobs through value chain activities. The initiative will also aim to enhance food security, boost domestic production, and reduce post-harvest losses.
The AfDB has committed over $934 million towards the development of the special agro-industrial processing zones. This commitment is part of the $3 billion in commitments made through the Alliance for Special Agro-Industrial Processing Zones.
The development of special agro-industrial processing zones is ongoing in 27 sites across 11 countries in Africa. The AfDB, through its partnership with the Federal Government of Nigeria (FGN) and state governments involved in the program, is poised to make a significant impact on Nigeria's agriculture sector and contribute to the continent's agricultural transformation.
In conclusion, the second phase of SAPZ marks a significant step towards Nigeria's agricultural transformation. With the support of the AfDB and its partners, the country stands to benefit from enhanced food security, increased domestic production, and the creation of thousands of employment opportunities. The future of Nigeria's agriculture sector looks promising, and the AfDB's investment in SAPZ is a testament to this.
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