This development was disclosed by AfDB President, Dr. Akinwumi Adesina, during the inauguration of a soybean plant and refinery by CSS Global Integrated Farms in Gora, Nasarawa State.
Dr. Adesina commended the state-of-the-art refinery as a game-changer for Nigeria’s agricultural sector, noting its potential to cut down the $62.2 million spent on crude soybean oil imports in 2023. However, he expressed concerns over soaring food prices, with a bag of rice now costing N100,000, compared to N8,000 a decade ago when he served as Minister of Agriculture.
The SAPZ programme aims to strengthen agricultural value chains by increasing food production, processing capacity, and market supply. Currently, the $538 million first phase is active in seven states—Cross River State, Imo State, Oyo State, Ogun State, Kaduna State, Kano State, and Kwara State—as well as Abuja State. The upcoming phase will expand these efforts nationwide, with CSS Farms in Nasarawa positioned as an anchor investor.
Dr. Adesina urged the federal government to adopt bold policies and provide incentives to agribusinesses to enhance productivity, processing, and value addition. He emphasised the need to transform agriculture into a key driver of economic growth and food security.
