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Akinwunmi Adesina, President of African Development Bank, says the sum of $510 million will be expended in the financing the first phase of the Special Agro-Industrial Processing Zones been established in Nigeria.
According to him, out of this amount, the African Development Bank will be contributing $200 million, including $50 million from the Africa Growing Together Fund; with co-financing of $100 million from the International Fund for Agricultural Development, $150 million from the Islamic Development Bank, and the sum of $60 million from the Green Climate Funds.
Adesina made this disclosure, Tuesday, during the groundbreaking ceremony of the project at Dakin Takwas village, along the Kaduna-Abuja expressway.
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The ADB President said that first phase of the development of SAPZs involves eight states, including Kaduna, Kano, Katsina, Ogun, Oyo, Kwara, Cross Rivers and Imo States; and the Federal Capital Territory.
“Currently, the Special Agro-Industrial Processing Zones are under implementation in 27 sites across 11 countries including Cote d’Ivoire, Senegal, Guinea, Liberia, Madagascar, Togo, Ethiopia, Democratic Republic of Congo, Mozambique and Mali,’’ he added.
Adesina commended Governor Uba Sani for his incredible leadership, vision, dedication and tenacity that have led to this historic groundbreaking of the Special Agro-Industrial Processing Zone in the state.
“You have been a great Governor for Kaduna State. Your passion for agriculture is impressive. I learnt that since you became the Governor you have increased the share of the State budget allocated to agriculture to 10%; and that this has risen to about N74 billion,’’ he added.
“With the Special Agro-Industrial Processing Zones, farms will thrive across Kaduna State, in every local government. Food and agricultural processing companies will move to Kaduna State.
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“The rural areas of Kaduna State will boom with economic activities. And Kaduna State will mark out itself as a leading center for agro-industrialization in Nigeria,’’ he added.
Adesina also praised President Tinubu for the strategic partnership with the ADB, disclosing that the bank has committed over $934 million for the development SAPZs and mobilized co-financing of over $938 million from partners, including the Islamic Development Bank and the International Fund for Agriculture Development (IFAD).
