Nigeria has sought enhanced funding commitment from the African Development Bank (AfDB) to operationalise the second phase of the Special Agro-Industrial Processing Zones (SAPZ).
SAPZ Phase 2, which is expected to scale up climate-resilient infrastructure and inclusive agro-industrial growth across an additional 24 states, expanding from the initial eight states and the FCT, is aimed at diversifying Nigeria’s mono-product economy to value-added agricultural export.
Vice President Kashim Shettima made the request weekend in New York, United States, during a bilateral meeting with AfDB’s President, Sidi Ould Tah, on the sidelines of the 80th Session of the United Nations General Assembly (UNGA).
Justifying the country’s request, the Vice President, in a release issued on Sunday by his Media Assistant, Stanley Nkwocha, said Nigeria is the largest shareholder in AfDB and its portfolio hovers in the neighbourhood of over $10 billion.
“We urge you to further support us in the phase 2 Special Agro-Industrial Processing Zones (SAPZ). You assisted us with $300 million when you were in Liberia.”
