The African Development Bank (AfDB) has reaffirmed its commitment to mobilising $2.2 billion for the second phase of the Special Agro-Industrial Processing Zones (SAPZ) project.
The announcement came during the official commissioning of the project in Calabar on Thursday by Nigeria’s Vice President, Kashim Shettima.
The SAPZ initiative is a nationwide, government-enabled, and private sector-led programme designed to transform Nigeria’s agricultural sector and drive inclusive economic growth. It aims to create millions of jobs, empower farmers, and boost agro-industrial productivity across the country.
Speaking at the commissioning, Vice President Shettima emphasised the huge potential of the SAPZ project, noting that it targets long-standing challenges in the agricultural sector.
“For far too long, our farmers have contended with poor infrastructure, lack of access to finance, and inadequate processing facilities,” he said. “This zone is expected to confront those challenges head-on by creating an ecosystem where innovation, investment, and collaboration thrive.”
The Vice President added that the Calabar SAPZ will serve as a hub for agro-processing and storage, providing the critical infrastructure needed for farmers to scale operations and access both local and international markets.
In his statement, AfDB President Dr. Akinwumi Adesina reiterated the Bank’s unwavering support for the SAPZ initiative.
“We have put together a financing package of $510 million to make this work,” he revealed. “In the second phase, we plan to mobilise $2.2 billion to support 28 states across the federation in collaboration with several partners.”
Vice President Shettima also extended appreciation to development partners—including the African Development Bank, the Islamic Development Bank (IsDB), and the International Fund for Agricultural Development (IFAD)—for their contributions to the project’s success.
