Agro-Industrial hubs in Nigeria to get AfDB’s $2.2 billion
By Taiwo Osho
The African Development Bank (AfDB) said it’s going to release $2.2 billion in funding to establish Special Agro-Industrial Processing Zones (SAPZ) across Nigeria. The project is designed to enhance agricultural productivity and address food insecurity in the country.
According to Mr. Abdul Kamara, Director General of the AfDB Nigeria Office, the funds will be disbursed starting in 2025, with initial construction and mobilization activities in seven regions, including the Federal Capital Territory (FCT), Cross River, Ogun, Oyo, Kaduna, Kano, and Kwara states.Business loans for small businesses
The SAPZ initiative will focus on developing agro-industrial hubs, aggregation centers, and value chain programs to boost food security and unlock economic opportunities for businesses, particularly small and medium enterprises (SMEs) in the agricultural sector. This effort is expected to create jobs, enhance productivity, and position Nigeria as a leader in agro-industrial development in Africa.Cloud-based business solutions
The project, originally approved in 2021, experienced delays due to the need for agreements with the federal government and co-financiers, including the International Fund for Agricultural Development (IFAD) and the Islamic Development Bank (IsDB). However, Mr. Kamara confirmed that agreements are now in place, and bidding documents are being finalized to streamline implementation.
For SMEs and MSMEs in Nigeria, the SAPZ program offers significant opportunities to scale operations, access improved infrastructure, and integrate into value chains, fostering growth and competitiveness in the agricultural sector.
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