By Abiodun Abdullai
The Nigerian government has secured enhanced funding commitment from the African Development Bank (AfDB) to drive the second phase of the Special Agro-Industrial Processing Zones (SAPZ) initiative.
The new phase will extend climate-resilient infrastructure and inclusive agro-industrial growth to 24 additional states, expanding the scheme beyond the initial eight states and the Federal Capital Territory.
Vice President Kashim Shettima made the request during a bilateral meeting with AfDB President Dr Sidi Ould Tah on the sidelines of the 80th United Nations General Assembly in New York.
Shettima noted that Nigeria remains the largest shareholder in AfDB with a portfolio worth over $10 billion. He emphasized the country's determination to diversify from a mono-product economy to value-added agricultural exports.
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"We have the potential in all the agro-ecological zones in Nigeria. From the mangrove forest swamps in the south to the Sahelian region in the far north, you can virtually grow anything," he said.
The vice president highlighted Nigeria's youthful population as a driving force for development, urging AfDB to expand its focus beyond MSMEs to innovation-driven enterprises in the digital economy.
Minister of Environment Mallam Balarabe Lawal appealed to AfDB to extend support to the Pan-African Great Green Wall Initiative, while Minister of Housing and Urban Development Alhaji Ahmed Dangiwa sought assistance in bridging Nigeria's housing deficit.
Responding, AfDB President Dr Sidi Ould Tah pledged that the bank would continue to support Nigeria's human capital and agricultural development, stressing that his vision is to position AfDB as a catalyst for mobilizing global resources to transform Africa's economies.
He outlined four priorities for the bank under his leadership: mobilising large-scale capital, reforming Africa's financial architecture, converting the continent's demographic dividend into economic strength, and industrialising Africa through value addition and resilient infrastructure.
