AfDB, partners to mobilise $520m for agric zones in Nigeria

The African Development Bank (AfDB) says it is working with development partners in mobilising $520m to co-finance the first phase of special agro-industrial processing zones in Nigeria.

Lamin Barrow, director-general of the AfDB Nigeria country department, who spoke at a high-level briefing session held on Monday, said the zones would be rolled out in 18 African countries, including Nigeria.

The Nigeria special agro-industrial processing zone programme consists of four components – infrastructure development and agro-industrial hubs management; agriculture productivity and production; policy and institutional development; and programme coordination and management.

“The bank and its development partners are mobilising $520m to co-finance the first phase of the programme in Nigeria, be implemented in phases across six geopolitical zones,” he said.

AfDB, in a statement said the participants which include representatives of the African Development Bank Group, the International Fund for Agricultural Development (IFAD) and the Islamic Development Bank (IsDB), provided progress updates on the scheme, following their consultations with key stakeholders within the public and private sectors.

Reacting to the announcement, Zainab Ahmed, minister of finance, budget and national planning, who hosted the meeting, restated the federal government’s commitment to the initiative and providing enabling policies that could attract private sector investment in the zones.

“The federal government is committed to successfully implementing the programme to increase agricultural production, reduce poverty, and scale up job creation across the country,” she said.

The minister said all 36 states in Nigeria and the federal capital territory will be eligible to participate in the SAPZ programme.

She added that 20 states and the FCT had already indicated interest in participating the first phase of the scheme.

The states include Kaduna, Kano, Kwara, Imo, Cross River, Ogun, Oyo, Bauchi, Lagos, Niger, Jigawa, Ekiti, Lagos, Taraba, Benue, Sokoto, Ondo, Nasarawa, Gombe and Kogi.

Also speaking at the meeting, Beth Dunford, AfDB vice-president for agriculture, human and social development, said the programme would create jobs and ease agricultural development in Nigeria.

“In the same manner that SAPZs have worked in other countries, it will create jobs, develop skills, and facilitate agricultural value chains development in Nigeria. Private sector investment is critical to the success of the SAPZs, as well as having the right policies in place. Action is needed now. The African Development Bank is ready to accelerate this action,” he said.