AFDB to Fund agro-zones in 24 States

AfDB to fund agro-zones in 24 states

 

The Federal Government has secured the commitment of the African Development Bank (AfDB) to fund the second phase of the Special Agro-Industrial Processing Zones (SAPZ) programme, which will be expanded from the initial eight pilot states to 24 additional states.

 

Vice President Kashim Shettima made the appeal during a bilateral meeting with AfDB President, Dr. Sidi Ould Tah, on the sidelines of the 80th United Nations General Assembly (UNGA) in New York on Friday.

 

Shettima said the initiative is designed to fast-track Nigeria’s diversification drive by moving away from dependence on crude oil to value-added agricultural exports, supported by climate-resilient infrastructure and inclusive growth.

 

The Vice President reminded the AfDB chief that Nigeria remains the bank’s largest shareholder with a portfolio estimated at $10 billion.

 

“We urge you to further support us in the Phase Two of the SAPZ programme. You assisted us with $300 million when you were in Liberia. We thank you, but like Oliver Twist, we are asking for more because we are poised to diversify our mono-product economy into agriculture, especially value-added agricultural exports,” Shettima said.

 

Highlighting the country’s potential, he said Nigeria’s diverse ecological zones—ranging from the mangrove swamps of the South to the Sahel in the North—are fertile grounds for virtually every type of crop cultivation.

 

The VP also called on AfDB to extend its intervention to innovation-driven enterprises, stressing that Nigeria’s youthful population and vibrant digital sector present opportunities for Africa’s development.

 

“Already, out of the eight unicorns in Africa, five are from Nigeria. We can catalyse and accelerate the digital space in Africa,” he said.

 

Minister of Environment, Mallam Balarabe Lawal, urged the bank to support the Great Green Wall initiative aimed at combating desertification in the Sahel and addressing environmental degradation in 11 frontline states. He also sought assistance for Nigeria’s clean cooking policy as part of afforestation efforts.

 

Similarly, Minister of Housing and Urban Development, Alhaji Ahmed Dangiwa, appealed for AfDB’s intervention in reducing Nigeria’s housing deficit.

 

In response, AfDB President Dr. Tah assured Nigeria of the bank’s support, noting that his vision is to transform the institution into a catalyst for mobilising global capital to Africa.

 

“My four priorities are: mobilising large-scale capital through partnerships, reforming Africa’s financial architecture, converting the continent’s demographic dividend into economic strength for job creation, and industrialising Africa by harnessing its natural resources,” he said.

 

Meanwhile, Shettima also met with the Prime Minister of St. Kitts and Nevis, Dr. Terrance Drew, where both leaders agreed to deepen economic and cultural ties.

 

Shettima pledged Nigeria’s readiness to rekindle its historical ties with the Caribbean, stressing that shared heritage, language and Commonwealth membership should be leveraged for mutual benefits.

 

Dr. Drew, on his part, lamented the low volume of trade between Africa and the Caribbean but assured of his country’s readiness to work with Nigeria to boost commerce.