The Africa Development Bank (AfDB), in collaboration with partners, has mobilised $2.2 billion (about N3.4 trillion) to implement special agro-industrial processing zones (SAPZs) in Nigeria.
The outgoing president of AfDB, Akinwumi Adesina, spoke in a paper presented at the 2025 Standard Chartered Bank Africa Summit recently held in Lagos.
During the presentation, Akinwumi said the fund would be deployed to implement phase two of the special agro-industrial processing zones covering 24 states.
He said the bank and its partners had supported the launch of the special agro-industrial processing zones in the first eight states – Ogun, Oyo, Cross Rivers, Imo, Kaduna, Kwara, Kano and the federal capital territory.
Adesina, a former minister of agriculture and food security, said the initiative would revolutionise Nigeria’s agricultural sector by enhancing food security, boosting domestic production and creating thousands of jobs.
He added that investments are needed to unlock the agricultural potential in Nigeria and Africa, especially in adding value to agricultural commodities.
To achieve that, the AfDB president emphasised the need to develop industrial platforms that would allow the continent to move up the agricultural value chains.
“The AfDB is investing massively in the development of Special Agro-industrial Processing Zones across Africa, enabled with infrastructure to support the establishment of industries to process and add value across a wide range of agricultural products, “he said.
“The bank has committed over $934 million towards developing the special agro-industrial processing zones.
“We have mobilised cofinancing of $938 million from partners, including the International Fund for Agricultural Development, the Islamic Development Bank, Japan International Cooperation Agency, and the West African Development Bank.
“We have also launched together with partners, the Alliance for Special Agro-Industrial Processing Zones to accelerate the development of these zones across Africa, with $3 billion in commitments.”
Adesina also said the development of the special agro-industrial processing zones is ongoing in 27 sites across 11 countries in Africa.
On August 2, AfDB, in collaboration with the federal government and other partners, flagged off a SAPZ project in Ijaiye, Akinyele local government area (LGA), Oyo.
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