Nigeria’s Special Agro-Industrial Processing Zones (SAPZ) project has garnered over $2.2 billion in investment pledges during the Africa Investment Forum 2024 in Rabat, Morocco. Facilitated by the African Development Bank (AfDB), the funds will propel the program’s second phase, which aims to establish agro-industrial hubs, enhance food security, create jobs, and boost productivity across the country. The program, currently operational in eight states, including Cross River, Oyo, and Kano, will expand to 24 additional states during its second phase. AfDB President Dr. Akinwunmi Adesina hailed the initiative as pivotal for Nigeria’s agricultural transformation, emphasizing its potential to empower smallholder farmers and position the country as a leader in agro-industrialization. Meanwhile, Professor Banji Oyelaran-Oyeyinka, the Senior Special Adviser on Industrialization to the AfDB President, highlighted Nigeria’s untapped agricultural potential. He advocated for the industrialization of the country’s agriculture to maximize the value of its agricultural produce.
SOURCE: NAIRAMETRICS
