The National Economic Council has unveiled plans to infuse $1.52 billion in donor funds into 36 Special Agro-Industrial Processing Zones (SAPZs) nationwide.
The ambitious initiative, announced by the Minister of Agriculture and Food Security, Abubakar Kyari, aims to create 17.5 million jobs and support 100,000 farmers.
The first phase of the project is already underway in Kano, Kaduna, Kwara, Ogun, Oyo, Imo, Cross River, and the Federal Capital Territory, with an investment exceeding $520 million. The completion of this initial phase is anticipated by 2028.
Minister Kyari revealed that 26 states have expressed interest in participating in Phase II, where an additional $1 billion in funding from the African Development Bank (AfDB) and other partners will be allocated. Documentation for the second phase is expected to commence in early 2024.
The funds stem from pledges by the African Development Bank, Islamic Development Bank, and the International Fund for Agricultural Development, who committed $1 billion at the Norman Borlaug International Dialogue, World Food Prize 2022.
This substantial financial injection, coupled with an initial $520 million from development partners, underscores the global support for Nigeria’s agricultural development.
Kyari emphasized the positive impact of SAPZs, not only as production sites but also as hubs for aggregation and processing of agricultural produce.
The program aims to attract private sector investment, enhance agro-processing in Nigeria, and unlock opportunities for improved food security.
Highlighting the quick wins of the project, Kyari stated, “Even in the stage of construction, you will have the opportunity for over 3,000 jobs. And at the end of the construction, opportunities will be for almost 500,000 jobs on each zone for each state and then also to support about 100,000 farmers.”
The SAPZs, launched in 2022, have seen active participation from seven states and the Federal Capital Territory. The zones are expected not only to boost agricultural production but also to address post-harvest losses significantly.
As the project gains momentum, the National Economic Council has urged state governors to enthusiastically participate, emphasizing that the initiative will drive substantial economic growth through job creation and modernized agricultural practices.
The Council’s approval of expedited document transmission and waiver requests demonstrates its commitment to overcoming implementation challenges and ensuring the success of this transformative initiative.