By Ebi Kesiena
The African Development Bank (AfDB) President, Dr Akinwumi Adesina, has announced that Nigeria will benefit significantly from a $4.4 billion investment aimed at expanding Special Agro-Industrial Processing Zones (SAPZ) across all 36 states and the Federal Capital Territory.
Speaking in an interview, Dr Adesina emphasised that agricultural transformation is key to driving broader economic growth.
Established in 2022, the SAPZ programme seeks to revolutionise Nigeria’s agricultural sector by developing agro-processing clusters. These zones will enhance agricultural productivity, promote value addition, and generate employment, particularly in rural areas.
“Economic transformation is incomplete without agricultural transformation because agriculture directly impacts people at the grassroots level,” Adesina stated.
He explained that the initiative will create strategically located economic zones near farmers, equipped with essential infrastructure such as power, water, roads, digital connectivity, and irrigation systems. These facilities will attract agro-processing companies, reducing post-harvest losses and stimulating job creation.
“These zones will serve as hubs for companies to purchase raw materials from farmers for processing, thereby fostering a new ecosystem of wealth in rural communities,” he said.
According to The Punch newspaper, which monitored the interview, AfDB has already committed over $3 billion to SAPZ projects in 11 African countries. Initially, the target for Nigeria was to raise $750 million, but this goal was significantly surpassed, reaching $2.2 billion before growing to $4.4 billion.
“We initially launched an $85 million programme in partnership with the Islamic Development Bank and the International Fund for Agricultural Development. At the Africa Investment Forum last December, I engaged Nigerian governors to secure more funding. What started as a $750 million target eventually expanded to $2.2 billion and later to $4.4 billion,” Adesina revealed.
He further highlighted that SAPZ will enable Nigeria to process more of its agricultural produce locally, addressing long-standing infrastructure challenges that have forced raw commodities to be transported to urban areas for processing.
“This model is already proving successful in several African countries, and I am confident it will thrive in Nigeria as well,” he added.