From Juliana Taiwo-Obalonye, Abuja
Nigeria has secured increased funding from the African Development Bank (AfDB) to fast-track phase two of the Special Agro-Industrial Processing Zones (SAPZ) that will expand the project from eight states and the FCT to an additional 24 states.
This expansion aims to enhance climate-resilient infrastructure and foster inclusive agro-industrial growth, diversifying Nigeria’s economy toward value-added agricultural exports.
Vice President Kashim Shettima, during a bilateral meeting with AfDB President Sidi Ould Tah, at the sidelines of the 80th UN General Assembly in New York, highlighted Nigeria’s strategic importance as the bank’s largest shareholder with a portfolio exceeding $10 billion.
“We urge you to further support us in the phase 2 Special Agro-Industrial Processing Zones (SAPZ). You assisted us with $300 million when you were in Liberia. We want to thank you, but like Oliver Twist, we are asking for more because we are poised to diversify our mono-product economy into agriculture, especially value-added agricultural export,” Shettima said.
According to a statement by the Vice President’s media aide, Stanley Nkwocha, he emphasised Nigeria’s vast agro-ecological potential from the mangrove swamps in the south to the fertile soils in Kebbi State.
The Vice President also called for expanded AfDB focus on innovation-driven enterprises in Africa’s digital sector, noting Nigeria’s leadership with five of the eight African unicorns, including Moniepoint and Jumia. “We can catalyse and accelerate the digital space in Africa…
We are with you, we are for you, and we will stand by you,” he affirmed.
Minister of Environment, Balarabe Lawal requested AfDB support for Nigeria’s Great Green Wall Project targeting desertification in the Sahelian regions. He linked this to broader environmental efforts including clean cooking policies addressing deforestation and health.
Minister of Housing and Urban Development, Ahmed Dangiwa appealed for substantial funding to address Nigeria’s housing deficit.
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