By Nneka Nwogwugwu
The president of the African Development Bank (AfDB), Dr. Akinwumi Adesina has stated on Monday that the bank is working with some stakeholders to design Special Agro-industrial Processing Zones in Nigeria.
According to him, the bank and its partners, have already mobilized $520 million towards the program.
Dr. Adesina, speaking at the Mid-Term Ministerial Performance Review Retreat held at the Presidential villa, Abuja, on the topic: ‘Nigeria’s Economic Resurgence: Learning from the African Experience,’ said that the programme is expected to create at least 1.5 million jobs.
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The main stakeholders the bank is working with are the Nigerian Federal Government, seven State Governments, the Federal Capital Territory, the Ministries of Finance, Agriculture, Trade, Industry and Investment, Water Resources, and the Nigerian Sovereign Investment Authority (NSIA), he listed.
Adesina said as stated by Greenbarg reporters, “These will be zones enabled with infrastructure and logistics, to support private sector food and agriculture companies to locate close to the areas of production, and to process and add value to food and agricultural commodities.
The AfDB boss suggested that Nigeria should establish Special Agro-industrial Processing Zones all across the country, as well as the e-Wallet System and Growth Enhancement Scheme, to boost farmers access to productivity.
He said that enhancing farm inputs should be reinstated and enshrined in law and cautioned that Policy reversals should be avoided.
