• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Wednesday, October 8, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

AfDB, others commit to Special Agro-Industrial Processing Zone

AfDB

The Matters Press by The Matters Press
January 27, 2022
Reading Time: 3 mins read
0
Nigeria gets AfDB’s $14m as member of ATI

AfDB

The African Development Bank (AfDB), Nigerian governors and the Nigeria Sovereign Investment Authority (NSIA) have committed to advancing the Special Agro-Industrial Processing Zone (SAPZ) Initiative in Nigeria.

RELATED POSTS

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

Atiku’s hunger revolution, delusional – TMSG

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

The commitment was made when the AfDB President, Dr Akinwumi Adesina received four Nigerian governors and the Managing Director of NSIA, Mr Uche Orji in Abidjan, Cote D’Ivoire.

A statement issued on Thursday in Abidjan, by Olufemi Terry of the bank’s Communications and External Relations Department, said that Adesina invited the delegation to discuss what would be the rapid rollout of the first phase of the program in their states.

According to the statement, the governors are Dapo Abiodun of Ogun state, Seyi Makinde of Oyo State, Nasir Ahmad El-Rufai of Kaduna State and Hope Uzodinma of Imo State.

The meeting was to discuss how the program would help realise development and add economic value in the states.

It underscored the important underlying role of the NSIA as a honest broker of the program, as well as the commitment of all the governors to it.

A communique signed by all parties affirmed all parties’ joint commitment and acknowledgement that the SAPZ program was one that would be used to transform agriculture quickly and at scale across Nigeria.

The statement said that Adesina reiterated the bank’s commitment to Nigerian agriculture, which he said had the potential to be a powerhouse in food provision.

“Last December, the Bank’s board of directors approved a 160 million dollar loan to get the program underway in seven Nigerian states and Nigeria’s Federal Capital Territory.

“Additional co-financing for the first phase of the program will come from the International Fund for Agricultural Development and the Islamic Development Bank in the amount of 150 million dollars.

“The Nigerian government will provide roughly 18.05 million dollars toward the program’s rollout and implementation.”

Adesina commended the governors for the enthusiastic manner in which they had embraced the program.

He enjoined them to continue to be the brilliant chief marketing officers for their states and to share their ideas about how to attract private sector investment.

“Today is a very unique day for Nigeria at the AfDB. I must express how proud I am of the Federal Government, the executive governors, the ministries and government agencies, for how this has all come together.”

He also urged the NSIA to develop a roadmap for the governors to follow in rolling out the initiative, adding that there was the need to standardise it and avoid being bureaucratic.

El-Rufai of Kaduna state expressed enthusiasm about the program and enjoined his peers to take advantage of its value for development growth.

“We are committed to the SAPZ program, all of us as governors, and I speak also on behalf of the President of Nigeria.”

Abiodun of Ogun said that it promises to be a very successful and transformational initiative for Ogun State and for the country.

He added that it was an important step toward reducing unemployment, a challenge faced in Ogun state with the growing number of educated young people that were completing their studies with no jobs.

Governors Makinde and Uzodinma also emphasized how the program would shore up agricultural development in their states.

Orji of the NSIA said that agriculture was a key focus area of his agency, pledging to work with governors to ensure that procurement was done professionally and on time.

He was quoted as saying that the NSIA, which was 52 per cent owned by states, and 48 per cent by the Federal Government, would play a key role in the rollout of the program.

He signed a letter of intent committing the agency to provide strategic assistance in procuring transaction advisory firms and other companies to implement world class infrastructure in the hubs.

The bank said that President Muhammadu Buhari was expected to preside over a ceremony in Nigeria in February to officially launch the first phase of the SAPZ program.

It added that so far, SAPZ project had attracted significant interest from private sector food and agro businesses in Nigeria, while investments of at least one billion dollars were expected in these zones by the private sector.

Tags: AfDB
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

September 24, 2025
Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s hunger revolution, delusional – TMSG

September 23, 2025
‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG
Economy/Technology

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

September 22, 2025
2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
NBS reports increase in Inflation
Economy/Technology

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

September 17, 2025
Old pension scheme beneficiaries get a boost in entitlements
Economy/Technology

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

September 14, 2025
Next Post
Stakeholders commend NNPC for good performance

NNPC secures $5bn from Afreximbank fo fund investments

Buhari underscores the opportunities in a single African air transport

Santos Aviation valued $37bn

Recommended Stories

Kenya hits the globe for oil investment

Namibian oil wells open to Nigerian investors – Envoy

January 14, 2022
800 firms compete to manage gas flare sites

Investment in upstream oil, gas records 50% drop in 5 years

May 5, 2022
Nigeria’s first Coastal Highway gets regional support against opposition

Nigeria’s first Coastal Highway gets regional support against opposition

May 7, 2024

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎
  • Atiku’s hunger revolution, delusional – TMSG
  • ‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us