News in Brief:
– The African Development Bank (AfDB) is set to implement a $538 million program to establish Special Agro-Industrial Processing Zones (SAPZ) in seven Nigerian states.
– It aims to boost agricultural development, reduce food prices, and enhance food security.
In collaboration with partners, the African Development Bank (AfDB) is set to implement a $538 million program to develop Special Agro-Industrial Processing Zones (SAPZ) in seven states across Nigeria. The states included in the initial phase are Cross-Rivers, Imo, Oyo, Ogun, Kaduna, Kano, Kwara, and the Federal Capital Territory.
AfDB President, Dr Akinwumi Adesina, stated this during the inauguration of a soybean plant and refinery by Called Servant to Service Global Integrated Farms in Nasarawa State. He reiterated the importance of SAPZ in boosting agricultural development and enhancing food security in Nigeria.
He noted that these zones will play a crucial role in increasing food production, reducing food prices, and minimising reliance on food imports.
Also, he added that the second phase of the program aims to expand SAPZ development to the remaining 28 states. This will be achieved with a targeted financing of one billion dollars from the AfDB, the Arab Bank for African Economic Development, and private sector investors.
Significant investment mobilised for SAPZ development
Meanwhile, at the Africa Investment Forum held in Rabat, Morocco, late last year, the AfDB and its partners successfully mobilised $2.2 billion in investment interest for the development of SAPZ across Nigeria.
Dr Adesina said that Nasarawa State will be included in the second phase of the program and that CSS Farms, a leading agricultural enterprise, will serve as a key anchor investor in the designated zone.
AfDB president urges accelerated efforts to reduce food prices
Furthermore, Adesina called for accelerated efforts to increase food production and reduce food prices in Nigeria. He expressed concern over the high cost of food, which has contributed to rising hunger levels in the country.
“Accelerated efforts are needed to expand food production, lower the prices of food commodities, eliminate food import dependency, and support local farmers to feed Nigeria,” he said.
He added that Nigerian farmers can feed the country as they did when he was the minister of agriculture. However, this called for ‘bold programs and policy support for its farmers.’ This should provide incentives for agribusinesses to support agricultural value chains, from food production to processing, value addition, packaging, and market supply.’
Commendation for CSS Farms
Dr Adesina commended CSS Farms for its contribution to food production and its commitment to supporting youth in agribusiness. He described the soybean refinery as a significant milestone in reducing Nigeria’s dependence on imported soybean oil.
CSS Farms, founded by Prof. John Okpara, is a 1,750-hectare operation employing over 1,450 workers. The farm produces a variety of crops, including soybeans, maize, and eggs, and plans to establish an agricultural university to empower future generations of farmers.
