The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has projected that $540 million Special Agro-Industrial Processing Zones (SAPZs) will unleash the potential of food and agribusiness for Nigeria and Africa.
Adesina, in a social media statement on Thursday, said: “This is the first phase of Special Agro-industrial Processing zones (SAPZs) in Nigeria.
“We are excited that many more states have now sent requests to join, just as we have from several African countries. SAPZs will unleash potential of food & agribusiness for Nigeria & Africa”, he added.
According to the design, the SAPZs is an integrated development initiative aimed at concentrating agro-processing activities within areas of high agricultural potential to boost productivity and integrate the production, processing and marketing of selected commodities.
It would be recalled that year, the Vice President, Prof. Yemi Osinbajo, disclosed that the rolling out of the Special-Agro Industrial Processing Zones (SAPZ) Programme is set to commence in Ogun, Oyo, Imo, Cross River, Kano, Kaduna, Kwara, and the FCT in its first phase.
With the Nigerian government partnering with the AfDB and other stakeholders, the programme will concentrate on agro-processing activities in demarcated areas to boost productivity and integrate production, processing and marketing of selected commodities.
The first phase, set to kick off soon, will involve 7 states: Ogun, Oyo, Imo, Cross River, Kano, Kaduna, Kwara, and the FCT.
Earlier this week, the AfDB President had hinted that the Bank and its partners namely, the International Fund for Agriculture Development (IFAD) and the Islamic Development Bank (IDB), mobilized $540 million for SAPZs,
However, it is planned that in the long run 140 of such centres would be created across the country.
