Nigeria has secured enhanced funding commitments from the African Development Bank (AfDB) to operationalize the second phase of its Special Agro-Industrial Processing Zones (SAPZ). This expansion will extend the programme from the initial six states to an additional 24 states, aiming to diversify Nigeria’s mono-product economy into value-added agricultural exports.
Vice President Kashim Shettima made the request during a bilateral meeting with AfDB President Dr. Sidi Ould Tah on the sidelines of the 80th Session of the United Nations General Assembly. Shettima emphasized Nigeria’s position as AfDB’s largest shareholder, with a portfolio exceeding $10 billion, and urged the bank to scale up its support for the SAPZ initiative.
The SAPZ programme is designed to scale up climate-resilient infrastructure and inclusive agro-industrial growth across the country, focusing on transforming rural zones into hubs of prosperity. The second phase is expected to generate significant global investment interest, with an estimated $2.2 billion mobilized at the Africa Investment Forum. The initiative is set to enhance agricultural productivity, reduce food imports, and create jobs for youth and women in rural areas.
