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In order to expedite the implementation of the plan for agro-industrial growth in the nation, the Nigerian government has called on international development partners to co-finance phase two of the Special Agro-Industrial Processing Zone, or SAPZ-2 programme.
This comes as Vice President Kashim Shettima has called the project, a game changer for the country’s economy, stating that the President Bola Tinubu administration will be able to realise its food security agenda.
The Nigeria Special Agro Industrial Processing Zones (SAPZ) programme aims to create new hubs that integrate the production, processing and distribution of targeted crops and livestock to achieve food security, increase incomes, improve livelihoods, and support economic diversification.
Speaking on Thursday at the SAPZ-2 programme co-financiers meeting at Presidential Villa in Abuja, the vice president stated that the SAPZ programme would benefit both the Nigerian government and the development partners in achieving their development goals and improving livelihoods, according to a statement released by his media. He said: “This meeting has become imperative to mobilise additional financing for the second phase of the programme to accommodate more states beyond the ten that have been earmarked.
“We currently have a commitment of US$600 million from AfDB through a multi-tranche financing arrangement of US$200 million/year and US$300 million from BADEA expected to be allocated on a US$100 million/year basis.” On phase one of the initiative, Shettima noted that the first phase taught a lot of lessons which is helping the government to reshape the programme towards an accelerated delivery, noting that the whole idea will actualise the administration’s food security agenda. The programme spans eight states—Kano, Kaduna, Kwara, Oyo, Ogun, Imo, Cross River, and the Federal Capital Territory (FCT).
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