The African Development Bank (AfDB) and its partners have secured $2.2 billion (approximately ₦3.4 trillion) to implement the second phase of the Special Agro-Industrial Processing Zones (SAPZ) initiative across 24 states in Nigeria.

This announcement was made by the outgoing AfDB President, Dr Akinwumi Adesina, during the 2025 Standard Chartered Bank Africa Summit, which was recently held in Lagos.

Dr. Adesina stated that the fund would accelerate the transformation of Nigeria’s agricultural landscape through value chain development and agro-industrialisation. 

He noted the successful rollout of SAPZ’s first phase in eight locations: Ogun, Oyo, Cross River, Imo, Kaduna, Kwara, Kano, and the Federal Capital Territory (FCT).

Dr Adesina, who previously served as Nigeria’s Minister of Agriculture and Food Security, noted that the project would enhance food security, reduce post-harvest losses, boost local production, and generate thousands of direct and indirect jobs.

“To truly unlock Nigeria’s vast agricultural potential, we must invest in infrastructure that enables value addition to agricultural commodities,” he said.

The AfDB has already committed over $934 million to developing these agro-industrial zones. Global partners, including the International Fund for Agricultural Development (IFAD), Islamic Development Bank, Japan International Cooperation Agency (JICA), and the West African Development Bank, have mobilised an additional $938 million in co-financing.

The AfDB and its partners have launched the Alliance for Special Agro-Industrial Processing Zones, which currently holds $3 billion in commitments to fast-track the establishment of SAPZs across Africa.

SAPZs are currently being developed in 27 locations across 11 African nations.

Source: Nairametrics

Image Credit: MyNigeria