Africa Development Bank (AfDB), in partnership with various collaborators, has successfully mobilised $2.2 billion (approximately N3.4 trillion) to support the implementation of special agro-industrial processing zones (SAPZs) in Nigeria.
Gatekeepers News reports that the development was outlined by Akinwumi Adesina, the outgoing president of AfDB, during a presentation at the 2025 Standard Chartered Bank Africa Summit held in Lagos.
In his address, Adesina announced that the funds would be utilised for phase two of the SAPZ initiative, which will encompass 24 states across Nigeria. The initial phase has already seen the launch of SAPZs in eight states: Ogun, Oyo, Cross Rivers, Imo, Kaduna, Kwara, Kano, and the Federal Capital Territory.
Adesina, who previously served as the minister of agriculture and food security, highlighted the transformative potential of this initiative for Nigeria’s agricultural sector. He stressed that it aims to enhance food security, increase domestic production, and create numerous job opportunities. Furthermore, he pointed out the critical need for investments to unlock the agricultural potential in Nigeria and the broader African continent, particularly in terms of adding value to agricultural commodities.
To realise these goals, Adesina emphasised the importance of developing industrial platforms that would enable Africa to advance up the agricultural value chain.
“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 co-financing 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.
