Nigeria Special Agro-Industrial Processing Zones Initiative to Be Launched Oct 24

19 October 2022
Content from a Premium Partner
African Development Bank (Abidjan)
press release

What: Launch of Special Agro-industrial Processing Zones Phase One Nigeria

Who: The President of Nigeria, government officials, investors, and leaders of the following financial institutions:

The African Development Bank

The Islamic Development Bank

The International Fund for Agricultural Development

When: Monday, 24 October 2022 at 10:00 am WAT

Tuesday, 25 October 2022 at 2:00 pm WAT

Where: Statehouse, Abuja on Monday; AfDB Nigeria country office on Tuesday; and online

The President of Nigeria, Muhammadu Buhari, jointly with the African Development Bank, the Islamic Development Bank and the International Fund for Agricultural Development will launch the Special Agro-industrial Processing Zones (SAPZ) initiative for Nigeria on 24 and 25 October 2022.

The launch in the federal capital, Abuja, will herald the implementation of SAPZ phase 1, and sends a strong message about Nigeria's commitment to significantly transform its agriculture sector, create jobs, achieve food security, and generate economic revenue.

The first phase of the Nigeria SAPZ program is co-financed by key development partners to the tune of $538.05 million. The African Development Bank is providing $210 million. The Islamic Development Bank and the International Fund for Agricultural Development will provide combined funding of $310 million. The government of Nigeria is contributing $18.05 million.

The two-day event will bring together government officials, implementing partners, potential investors, farmers, agripreneurs, members of the diplomatic corps, and the development community.

The event will feature the following:

Day1 (October 24): SAPZ launch

Day 2 (October 25): Partnerships and interaction with strategic investors

The Special Agro-industrial Processing Zones will feature world-class facilities capable of attracting global investment, particularly, private sector interest, and driving a market-oriented agricultural transformation that will boost agro-processing capacity across Africa.

Join the conversation using hashtags #SAPZ and #SAPZNigeria.

Media contact: Emeka Anuforo, Communication and External Relations, email: media@afdb.org

Read the original article on African Development Bank (AfDB).

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