Dr. Akinwumi Adesina, President of the African Development Bank Group (AfDB), announced the ambitious collaboration between the AfDB and its partners to secure $1 billion in financing for the expansion of Nigeria’s Special Agro-Industrial Processing Zones (SAPZ) program. The initiative, launched in October 2022, is geared towards enhancing productivity and promoting value addition. Additionally, it will be providing market access through a blend of government-supported and private sector-driven investments.

Adesina expressed the program’s potential to benefit up to 25 out of Nigeria’s 36 states. They expressed this during a meeting in Abidjan, Cote D’Ivoire. A delegation of North-western state governors led by Katsina State Governor Mallam Dikko Radda was present. Adesina urged the governors to promptly select agricultural hubs to host the proposed SAPZ schemes. Additionally, he emphasized their role in benefitting local farmers, creating jobs, and transforming commodities into high-value products.

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AfDB Targets $1 Billion To Boost Agro-Industrial Zones in Nigeria.