The Federal Government of Nigeria is set to launch Phase One of the Special Agro-Industrial Processing Zones (SAPZ) programme, backed by a significant $538 million investment from the African Development Bank (AfDB).
In a statement on Sunday, the AfDB announced that groundbreaking ceremonies for the commencement of Phase 1 will be held on April 8 in Kaduna State and April 10 in Cross River State.
This landmark project, AfDB’s largest single-country programme to date, will be led by Nigeria’s Vice President, Kashim Shettima, and AfDB President, Dr. Akinwumi Adesina.
Construction will begin across eight key locations: Kaduna, Kano, Kwara, Cross River, Imo, Ogun, Oyo, and the Federal Capital Territory.
“The initiative is being launched at a critical time as Nigeria intensifies efforts to diversify its economy and combat rising food insecurity,” the statement read. “Kaduna and Cross River States will lead this agricultural transformation, marking a pivotal shift in Nigeria’s approach to agribusiness and food security.”
According to the bank, “With an unprecedented investment of $538 million, SAPZ Phase 1 marks the African Development Bank’s largest programme in any African country to date, underscoring the scale and significance of this undertaking.
The SAPZ initiative embodies President Tinubu’s commitment to strengthening food security, generating sustainable employment opportunities, and revitalizing peri-urban economies through innovative public-private partnerships.”
Source: Nairametrics
