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Food Production Gets Major Boost As AfDB Begins Disbursement Of $540m SAPZs Fund To States

Published

10 months ago

Feb 6, 2024.

Eko Hot Blog reports that the African Development Bank (AfDB) has concluded plans to commence the disbursement of $540 million to the first phase of States in Nigeria for the development of Special Agro-Industrial Processing Zones (SAPZs).

Vice President Kashim Shettima called for immediate action, saying it was time for the government and its development partners to walk the talk.

These were contained in a statement by Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Stanley Nkwocha.

Vice President Kashim Shettima With AfDB Team

As part of moves by the Federal Government and the bank to ensure food security in the country, three States are to benefit from phase one of the development of processing zones.

They are Oyo, Kaduna and Cross River while others are to get theirs as soon as they are through with documentation.

Speaking after representatives of the AfDB and that of the United Nations Industrial Development Organization (UNIDO) presented their separate reports on the status of projects being executed in Nigeria to him, Vice President Shettima called for immediate action, saying all hands must be on deck to ensure that the visions of President Bola Ahmed Tinubu was delivered to the Nigerian people.

Noting that it is time to walk the talk, the VP said: “We have passed the age of talking; we have to walk the talk. We can talk from now till eternity and it does not mean anything if there is no action and hence we must make this work. We just must.

“We have not seen beyond the depth of our pockets; what comes to us is more important than what comes to the generality of the people. Things must change.

Vice President Kashim Shettima And AfDB Team

Making AfDB’s presentation to the Vice President, Professor Banji Oyelaran-Oyeyinka said: “The Special Agro-Industrial Processing Zones (SAPZ) is an initiative of the African Development Bank that is aimed at turning the rural landscape into economic zones of prosperity and harnessing the power of commercial agriculture and food.

“The primary objective is to support inclusive and sustainable agro-industrial development in Nigeria. The phase one of the project is at the point of disbursement. Kaduna, Oyo and Cross River States are all in the process of receiving disbursements and we hope for the other states, they can speed up with their documentation so that we can fast-track these States.

“We raised $540,000,000 in catalytic funding and we expect every state to find a partner that will bring equity and join up with them. It is a government-enabled project but private-sector driven.”

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