The African Development Bank (AfDB) will assist Nigeria in developing Special Agro-Industrial Processing Zones as part of the country’s efforts to achieve food security.
Dr. Akinwumi Adesina, President of the Bank and a former Minister of Agriculture, made the announcement on Tuesday while briefing President Muhammadu Buhari at State House in Abuja. “We’ve decided to set aside $540 for the program.” A total of $210 million has been approved by the African Development Bank.
“The Islamic Development Bank and the International Fund for Agricultural Development (IFAD) have approved $170 million and $160 million, respectively, for the program,” Dr. Adesina stated.
According to the AfDB President, the processing zones will initially be implemented in seven states: Kano, Ogun, Oyo, Kaduna, Kwara, Imo, Cross River, and the Federal Capital Territory.
“I look forward to your formal launch of these Special Agro-Industrial Processing Zones, Your Excellency,” Dr. Adesina said.
President Buhari praised the AfDB for being forward-thinking and proactive about food security on the African continent, particularly in Nigeria.