Launch of Special Agro-industrial Processing Zones in Nigeria

24-25 October 2022. Launch of Special Agro-industrial Processing Zones in Nigeria

The President of Nigeria, Muhammadu Buhari, jointly with the AFDB, the Islamic Development Bank and IFAD launched the Special Agro-industrial Processing Zones (SAPZ) initiative.

The launch in the federal capital, Abuja, heralded the implementation of SAPZ phase 1, and sends a strong message about Nigeria’s commitment to significantly transform its agriculture sector, create jobs, achieve food security, and generate economic revenue.

The first phase of the Nigeria SAPZ program is co-financed by key development partners to the tune of $538.05 million. 

• The African Development Bank is providing $210 million. 
• The Islamic Development Bank and IFAD will provide combined funding of $310 million. 
• The government of Nigeria is contributing $18.05 million.

The two-day event brought together government officials, implementing partners, potential investors, farmers, agripreneurs, members of the diplomatic corps, and the development community.

1. Day1 (October 24): SAPZ launch
2. Day 2 (October 25): Partnerships and interaction with strategic investors

The Special Agro-industrial Processing Zones will feature world-class facilities capable of attracting global investment, particularly, private sector interest, and driving a market-oriented agricultural transformation that will boost agro-processing capacity across Africa.