ADVERTISEMENT
TechEconomy
Friday, May 30, 2025
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home ยป AfDB Announces $2.2 Billion Agro-Industrial Fund for Nigeria, Effective 2025

AfDB Announces $2.2 Billion Agro-Industrial Fund for Nigeria, Effective 2025

Destiny Eseaga by Destiny Eseaga
December 31, 2024
in Finance
0
AfDB $2.2 Billion Agro-Industrial Fund
Agro-Industrial Fund

Agro-Industrial Fund

RelatedPosts

Naira vs Dollar | Asset management

Naira Appreciates in the Official Market, Closes at N1,586/$1

May 30, 2025

Alleged N76bn Fraud: EFCC Witness & Ex-Union Bank ED Reveals He Wrote-Off Arikโ€™s $2.3m Debt

May 29, 2025

The African Development Bank (AfDB) is preparing to launch a $2.2 billion fund aimed at developing Special Agro-Industrial Processing Zones (SAPZ) in Nigeria.

Abdul Kamara, the director general of AfDB‘s Nigeria Office, announced this during Channels Televisionโ€™s 2024 End-of-Year Review, which focused on the themes of agriculture, food security, research, and AfDB investments.

โ€œSpecifically from next year (2025), we will see contracts signed and mobilization and construction on site will start in some states. Of course, not all the states will start together,โ€ he said.

He said the money would be used for the development of agro-industrial hubs where processing will happen, aggregation centres and agricultural transformation programmes.

The developmental economist said though the Special Agro-Industrial Process Zones was approved by the AfDB Board in 2021, the project is picking up after startup delays attributed to several factors.

โ€œWhen you approve a programme, you have to have it signed with the Federal Government, especially of that magnitude. You also have to have it signed with the co-financiers. The Bank had to bring in IFAD (International Fund for Agricultural Development) and Islamic Development Bank as co-financiers,โ€ he said.

Kamara said when the Bank met with some state governors, months back, they agreed on certain actions to accelerate SAPZ. โ€œIn all the seven states including the FCT, Cross River, Ogun, Oyo, Kaduna, Kano and Kwara, in each of the states, we are now in conversation with and are publishing the bidding document so that weโ€™ll shorten the process. So, itโ€™s picking up and that is not strange. Projects that are very complex

โ€œThat is even why at the African Investment Forum just concluded early this month, we had a pledge from different financiers to the tune of $2.2bn.

โ€œSo, the SAPZ is going to happen and itโ€™s going to deliver as much as we have elsewhere.

โ€œThe value, give or take, what the Bank is putting in is about one billion dollars. Of course, if you add what others are bringing in, it will be more than that because we are a convener; we bring in others,โ€ he said.

Loading

Advertisements
MTN ADS

0Shares
Tags: AfDBAgro-Industrial Fund
Previous Post

Nigeria Receives $1.5 Billion from World Bank After Implementing Subsidy, Tax Reforms

Next Post

Everybody Loves Jenifaโ€™ Boosts Box Office to โ‚ฆ1 Billion Within a Week

Destiny Eseaga

Destiny Eseaga

My name is Destiny Eseaga, a communication strategist, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader world context. My passion lies in the world of finance, particularly, capital markets, investment banking, market intelligence, etc

Related Posts

Naira vs Dollar | Asset management
Finance

Naira Appreciates in the Official Market, Closes at N1,586/$1

by Latifat Fashina
May 30, 2025
0

The naira appreciated in the official market on Thursday, strengthening to N1,586/$1 from its previous close of N1,591/$1. According to...

Read more
Arik Air in 2024

Alleged N76bn Fraud: EFCC Witness & Ex-Union Bank ED Reveals He Wrote-Off Arikโ€™s $2.3m Debt

May 29, 2025
SANEF CEO Uche Uzoebo receives RedTech Award

RegTech Conference: SANEFโ€™s CEO Uche Uzoebo Makes Case for More Financial Inclusion Strategies Targeting Women

May 29, 2025
SEC cancels Silverkuun

SEC Warns Public against Investing in Silverkuun Limited

May 29, 2025
Abbey Mortgage Bank Building

Abbey Mortgage Bank to Raise N100bn for Commercial Banking Licence

May 29, 2025
Naira vs Dollar | Asset management

Naira Falls across Markets, Hits N1,591/$1 in Official Trading

May 29, 2025
Next Post
Everybody Loves Jenifa

Everybody Loves Jenifaโ€™ Boosts Box Office to โ‚ฆ1 Billion Within a Week

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

TECH TALK EPISODE 2
byTecheconomy

PRODUCTIVITY AND WORK-Life Balance

TECH TALK EPISODE 2
TECH TALK EPISODE 2
May 22, 2025
Techeconomy
CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

ยฉ 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

ยฉ 2025 Techeconomy - Designed by Opimedia.

Translate ยป
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.