FG Secures AfDB Funding for SAPZ Phase 2 to expand climate-smart agro-industrial zones in 24 states, boosting agri-exports and job creation.
FG Secures AfDB Funding for SAPZ Phase 2, as Nigeria intensifies its drive to diversify the economy through climate-resilient, value-added agriculture.
Also read: FG boosts food security with green energy
The African Development Bank (AfDB) has pledged enhanced financial support for the second phase of the Special Agro-Industrial Processing Zones (SAPZ) initiative.
Vice President Kashim Shettima announced the development on Monday via his official X (formerly Twitter) handle, following a bilateral meeting with AfDB President Dr. Sidi Tah in New York during the 80th United Nations General Assembly session.
Shettima revealed that Phase 2 of the SAPZ programme would cover 24 additional states, scaling up from the initial eight states and the Federal Capital Territory involved in the first phase.
The expanded initiative will focus on climate-smart infrastructure and inclusive agro-industrial growth, with the goal of strengthening Nigeria’s positioning in global food value chains.
“The SAPZ project is pivotal to our effort to diversify Nigeria’s mono-product economy.
We are committed to transforming agriculture into a growth engine for value-added exports,” Shettima stated.
Launched in 2022, SAPZ is a flagship collaboration between the Federal Government, AfDB, state governments, and development partners.
Phase 1, backed by a $300 million AfDB facility, established agro-industrial hubs in Cross River, Imo, Kaduna, Kano, Kwara, Ogun, Oyo, and the FCT.
These hubs aimed to cut post-harvest losses, attract private investment, and enhance market access for smallholder farmers.
The second phase is expected to deepen these outcomes while creating jobs, particularly for youths and women, and promoting food security nationwide.
Nigeria, with a $10 billion AfDB portfolio, remains the bank’s largest shareholder.
In his appeal for further support, Shettima said: “We thank you for your commitment, but like Oliver Twist, we are asking for more. Agriculture holds the future for Nigeria.”
The Naira is expected to benefit from increased export activity, while rural economies may see revitalisation through the integration of farmers into regional and global supply chains.
Also read: FG targets 50m pupils in school feeding by 2026
With AfDB’s continued backing, SAPZ Phase 2 could be a turning point in Nigeria’s long-running quest to build a resilient and diversified economy.
Source: Read more at tvcnews.tv
