AfDB and allies contribute $1 billion to finance Nigeria’s SAPZs

The International Fund for Agricultural Development, the Islamic Development Bank, and the African Development Bank have agreed to donate $1 billion to establish Special Agro-industrial Processing Zones (SAPZs) in 24 states in Nigeria.

This is on top of the $520 million that the development partners originally decided to allocate for the creation of eight SAPZ projects around the nation.

This was said in a statement made by Mr. Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, Office of the Vice-President, on behalf of AfDB President Dr. Akinwumi Adesina.

Adesina gave a speech at the 2023 World Food Prize Norman Borlaug International Dialogue in Des Moines, Iowa, USA.

Adesina stated in a lecture titled “From Dakar to Des Moines” that the determination to create SAPZs in 13 nations was reflected in the choice to invest such large sums of money in Nigeria’s agricultural sector.

“We are making significant investments in SAPZ development to help advance agricultural value chains.

“Value addition and food processing, enabling logistics and infrastructure to support local, regional, and global food trade.”

The Special Agro-Industrial Processing Zones are being developed with $853 million from the African Development Bank Group.

According to the release, Adesina stated, “The bank has mobilised additional co-financing of 661 million dollars, for a total commitment of $1.5 billion.”

Adesina claims that the bank is executing successful collaborations on a large scale, noting that it is now putting 25 SAPZs into place across 13 nations.

“The establishment of eight SAPZs in Nigeria was made possible by $520 million from the AfDB and the International Fund for Agricultural Development.

“To provide SAPZs in 24 States of Nigeria, the program’s second phase aims to mobilise an additional $1 billion.”

Despite the advancements in African agriculture, Adesina lamented that 283 million people—roughly one-third of the 828 million hungry people worldwide—still go to bed hungry.

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In order to guarantee that Africa fully realises its agricultural potential and feeds itself with pride, he characterised the Norman Borlaug International Dialogue World Food Prize 2023 as a journey and narrative integrating the force of science, technology, policies, and politics.

Vice-President Kashim Shettima and Ethiopian President Sahle-Work Zewde were praised by Adesina for taking part in the international event.

He claimed that their attendance demonstrated Africa’s political resolve and readiness to address food insecurity and end hunger on the continent.

Shettima gave a keynote speech at the ongoing discussion on Wednesday. She is attending the event in support of the Tinubu administration’s policies on food security and diversification.

Speaking about the President Tinubu administration’s efforts to ensure food security, Shettima stated that changes in agriculture and other sectors would be fueled by the calibre of current leadership in Nigeria and the rest of Africa.

““The calibre of a nation’s leadership determines whether it rises or falls fundamentally,” he stated.

Africa is already endowed with a sizable number of exceptional leaders that possess the will, passion, and skill set necessary to completely reinvent what it means to be a modern leader.

“Macky Sall of Senegal and, of course, Abdel Fattah El-Sisi of Egypt are doing incredibly well. President Tinubu, my boss, is an excellent example.

“To name a handful of African leaders who are making a name for themselves in leadership.”

Shettima gave the assurance to the agriculture sector’s investors and stakeholders that Tinubu was a modern African leader of the twenty-first century who is committed to redefining the definition and idea of modern leadership.

Because Nigeria is an anchor nation, you can be sure that in the coming years, the fortunes of the Nigerian people and, by extension, the African continent, will shift.

According to him, Nigeria aimed to attain fifty percent self-sufficiency in wheat production during the following three cycles.

The fact that we are the world’s second-largest importer of wheat is unbelievable. Fortunately, we already have wheat seeds that can withstand high temperatures.

We intend to propel this process by providing farmers with heat-tolerant cultivars, fertilisers, and agricultural extension services. In addition, we aim to expand irrigation areas to a million hectares over the upcoming cropping cycle.

In Nigeria, we must produce roughly 2.4 million tonnes of wheat grain. We plan to use digitalization and local irrigation projects to connect with our farmers.

“With creative financing, partial credit guarantees, and crop insurance, all the actors in the value chain will be adequately taken care of,” Shettima stated.

Regarding rice production, Shettima stated that the lack of paddy rice was Nigeria’s biggest problem.

He stated that Nigeria has sufficient milling capacity and emphasised that in order to achieve its annual requirement of roughly 2.5 million tonnes of paddy rice, the nation needed to produce three to four million tonnes of rice.

The majority of the 75 million hectares of fertile land we possess is suitable for rice farming.

“We will digitise services, inputs, finance, and market data, as well as supply our farmers with certified seeds, fertilisers, and extension services.

“Our goal is to become rice self-sufficient by 2027 at the latest.”

During his speech on SAPZs, the vice president reaffirmed the Tinubu administration’s commitment to creating an atmosphere that is conducive to investment in the zones.

According to him, the government would establish a SAPZs development authority that would function as a one-stop shop for the resolution of related and regulatory concerns. In NAN