The Federal Government has secured enhanced funding commitment from the African Development Bank (AfDB) to operationalise the second phase of the Special Agro-Industrial Processing Zones (SAPZ).

The programme’s second phase, designed to expand from the initial eight states and the Federal Capital Territory (FCT) to an additional 24 states, will focus on scaling climate-resilient infrastructure and driving inclusive agro-industrial growth.

The initiative is central to Nigeria’s efforts to diversify its economy from dependence on crude oil to value-added agricultural exports. Vice President Kashim Shettima made the request last Friday during a bilateral meeting with AfDB President Sidi Ould Tah on the sidelines of the 80th Session of the United Nations General Assembly (UNGA) in New York.

Underscoring Nigeria’s position as the AfDB’s largest shareholder with a portfolio exceeding $10 billion, he praised the bank for its $300 million support to SAPZ Phase One, while urging additional assistance. He said: “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.” He added: “We have the potential in all the agro-ecological zones in Nigeria. “From the mangrove forest swamps in the south to the Sahelian region in the far north, you can virtually grow anything.

In states like Kebbi, the soil is very fertile.” Shettima added that Nigeria boasts a resourceful youth population that is development-oriented and eager to be co-opted into the workforce of the 21st century. The VP implored Ould Tah to also look into the issue of the bank’s support for innovationdriven enterprises, instead of focusing only on MSMEs, noting that the digital space offered a vista of opportunities for Africa’s development.