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).

Tagged:
Copyright © 2022 African Development Bank. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.