All is set for the African Development Bank (AfDB) to commence
the disbursement of $540 million fund to the first set of States in
Nigeria for the development of Special Agro-Industrial Processing
Zones (SAPZs) in the country.
This is just as Vice President Kashim Shettima called for
immediate action, saying it was time for the government and its
development partners to walk the talk.
As part of moves by the Nigerian government and the continental
bank to ensure food security in the country, seven states are to
benefit from phase one of the development of agro-industrial
processing zones. The states are Imo, Oyo, Kaduna, Ogun,
Kwara, Kano and Cross, while others are to get theirs as soon as
they are through with documentation. About 27 states are
expected to be in the next phase.
Senior Special Adviser on Industrialization to the AfDB President,
Prof. Banji Oyelaran-Oyeyinka, disclosed this on when a
delegation of the bank and that of the United Nations Industrial
Development Organization (UNIDO) presented their separate
reports on the status of projects being executed in Nigeria to Vice
President Shettima at the Presidential Villa in Abuja.
According to a statement by the spokesman of the vice president,
Stanley Nkwocha, making AfDB’s presentation to the Vice
President, Oyelaran-Oyeyinka said, “The Special Agro-Industrial
Processing Zones (SAPZ) is an initiative of the African
Development Bank that is aimed at turning the rural landscape
into economic zones of prosperity and harnessing the power of
commercial agriculture and food.
“The primary objective is to support inclusive and sustainable
agro-industrial development in Nigeria. The phase one of the
project is at the point of disbursement. Kaduna, Oyo and Cross
River States are all in the process of receiving disbursements and
we hope for the other states, they can speed up with their
documentation so that we can fast-track these states.
“We raised $540,000,000 in catalytic funding and we expect every
state to find a partner that will bring equity and join up with them.
It is a government-enabled project but private-sector driven.”
The SSA to the AfDB President further explained that apart from
the seven states, the first phase of SAPZs was being
implemented in the Federal Capital Territory (FCT).
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