The African Development Bank Group (AfDB) has aided the mobilisation of $2.2 billion to advance the second phase of Nigeria’s Special Agro-Industrial Processing Zones (SAPZ) initiative.
This commitment was made during the recent Africa Investment Forum held in Morocco, where key stakeholders, including Nigerian state governors, multilateral development organisations, diplomats, and private sector investors, pledged their support.
In a statement released recently, AfDB emphasised that the funding builds on the success of the programme’s first phase, signalling a commitment to scaling up investments that bridge federal and state governments with critical agricultural infrastructure.
The boardroom session at the forum attracted leading investors, including the Arab Bank for Economic Development in Africa, Africa Export-Import Bank, Sahara Farms, BPI France, Africa50, and the US Development Finance corporation. In the end of the session, a total deal value of $2.2 billion was announced, marking a significant milestone for the SAPZ Nigeria Phase II initiative.
Phase I of the SAPZ programme is already operational in states such as Cross River, Imo, Ogun, Oyo, Kaduna, Kwara, Kano, and the Federal Capital Territory. Phase II aims to expand the programme to 24 additional states over the next three years, linking agriculture with industrialization to drive Nigeria’s economic growth.
Dr. Akinwumi Adesina, President of the AfDB Group, described the initiative as transformative for Nigeria’s agricultural sector.
“This is a defining moment for Nigeria’s agricultural transformation. The Nigeria SAPZ II project will create millions of jobs, empower smallholder farmers, and position Nigeria as a leader in agro-industrialisation. These investments exemplify the power of collaboration to achieve sustainable development in Africa,” Dr. Adesina said.
The SAPZ Nigeria programme is designed as a government-enabled, private-sector-led investment initiative to revolutionize agriculture. The zones are strategically located in regions with high agricultural production potential and are equipped with infrastructure, common services, and policy incentives to attract and integrate agricultural and industrial businesses.
The Vice President for Agriculture, Human and Social Development at AfDB, Dr. Beth Dunford, chaired the presidential boardroom session. Also present were Princess Audu, Adviser to President Bola Tinubu on Foreign Direct Investment, and Prof. Banji Oyelaran-Oyeyinka, Senior Special Adviser on Industrialization.
Prof. Oyelaran-Oyeyinka highlighted Phase I’s achievements and shared the roadmap for Phase II, noting that construction for the first phase is set to begin within a few months, with a flag-off ceremony planned for December.
Dr. Abdul Kamara, AfDB Director-General for Nigeria, expressed optimism about the programme’s impact.
“I am pleased to see this significant investment interest and commitment from our financing partners for Nigeria at a time when the country is ramping up efforts to attract investments into the agriculture sector to address food security, create job opportunities, and boost economic growth,” Dr. Kamara stated.
The SAPZ initiative continues to highlight Nigeria’s ambition to lead agro-industrialisation efforts in Africa, fostering sustainable development and positioning the nation for greater economic opportunities.
