AfDB Mobilizes $2.7 Billion for Nigeria’s Agricultural Transformation
13:31 09.04.2025 (Updated: 15:11 09.04.2025)
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AfDB Mobilizes $2.7 Billion for Nigeria’s Agricultural Transformation
The initiative aims to support Nigeria’s Special Agro-Industrial Processing Zones (SAPZs) that will boost local agricultural processing and create hundreds of thousands of jobs, African Development Bank President Akinwumi Adesin said.
Adesina launched the first phase of the program on Tuesday in Kaduna state.
The SAPZs implementation plan includes:
▫Phase 1: $510 million investment across eight states
▫Phase 2: $2.2 billion expansion to the remaining 28 states
The SAPZs will help add value to locally produced agricultural commodities, making Nigerian agribusinesses more competitive, the AfDB president noted.
Remarkably, Nigeria spent $4.7 billion on food imports last year, according to AfDB.
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The initiative aims to support Nigeria’s Special Agro-Industrial Processing Zones (SAPZs) that will boost local agricultural processing and create hundreds of thousands of jobs, African Development Bank President Akinwumi Adesin said.
Adesina launched the first phase of the program on Tuesday in Kaduna state.
The SAPZs implementation plan includes:
▫Phase 1: $510 million investment across eight states
▫Phase 2: $2.2 billion expansion to the remaining 28 states
The SAPZs will help add value to locally produced agricultural commodities, making Nigerian agribusinesses more competitive, the AfDB president noted.
Remarkably, Nigeria spent $4.7 billion on food imports last year, according to AfDB.
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Sputnik Africa | X
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