The Federal Government of Nigeria has secured an enhanced funding commitment from the African Development Bank (AfDB) to operationalise the second phase of the Special Agro-Industrial Processing Zones, SAPZ.
SAPZ Phase 2 is expected to expand climate-resilient infrastructure and promote inclusive agro-industrial growth across 24 more states, in addition to the initial eight states and the Federal Capital Territory. The project is aimed at diversifying Nigeria’s mono-product economy into value-added agricultural export, opening opportunities in agriculture, trade, and rural development.
Vice President Kashim Shettima made the request on Friday in New York during a bilateral meeting with AfDB President, Dr Sidi Ould Tah, on the sidelines of the 80th Session of the United Nations General Assembly.
Justifying Nigeria’s request, Shettima said the country is the largest shareholder in AfDB, with a portfolio of over 10 billion dollars. He noted that Nigeria received support of 300 million dollars during the first phase and is now seeking additional assistance to scale up the programme.
“We urge you to further support us in the phase 2 Special Agro-Industrial Processing Zones. You assisted us with 300 million dollars when you were in Liberia. We want to thank you, but like Oliver Twist, we are asking for more because we are poised to diversify our mono-product economy into agriculture, especially value-added agricultural export,” Shettima said.
He stressed that Nigeria’s agro-ecological zones are rich with potential. “From the mangrove forest swamps in the south to the Sahelian region in the far north, you can virtually grow anything. In states like Kebbi, the soil is very fertile,” he added.
The Vice President also highlighted the country’s resourceful youth population, describing them as development-oriented and eager to be engaged in the workforce of the 21st century. He urged the AfDB President to expand support beyond micro, small and medium enterprises to also cover innovation-driven enterprises.
“We can catalyse and accelerate the digital space in Africa. Already, out of the eight unicorns in Africa, five are from Nigeria – Moniepoint, Jumia, and the rest. We want to once again reiterate that we are with you, we are for you, and we will stand by you,” he told Dr Tah.
Minister of Environment, Mallam Balarabe Lawal, appealed to the AfDB to extend its support to the Pan African Great Green Wall Initiative, particularly Nigeria’s Great Green Wall Project.
He said, “I want to appeal for the extension of your support to Nigeria’s National Agency for the Great Green Wall. The agency is responsible for containing desertification in the Sahelian part of Africa. I also want to plead that you look at what we have done so far in addressing environmental degradation in the 11 frontline states.
“We have already submitted our proposal to the Ministry of Finance on the issue of clean cooking policy, which is also directly linked to the afforestation process. It is important because it will address two issues of deforestation and health.”
Minister of Housing and Urban Development, Alhaji Ahmed Dangiwa, also appealed to AfDB for substantial funding to help address Nigeria’s housing deficit.
Responding, AfDB President Dr Sidi Ould Tah assured that the bank under his leadership would spare no effort in supporting Nigeria’s economic and human capital development.
“My vision for the bank is not as a lending institution, but as a catalyst institution with which to mobilise resources and capital from all over the world to Africa. I hope we can really bring capital to the continent to make the transformation of our continent possible and bring value to the agricultural sector.
“This is why my four cardinal points are: mobilise large-scale capital through partnerships, reform Africa’s financial architecture, convert the continent’s demographic dividend into economic strength for job creation, and industrialise Africa by harnessing its natural resources to add value and build resilient infrastructure.
“These points form my roadmap to guide the bank’s strategy and accelerate Africa’s development, and I’m confident that with your support, the bank will be able to bring transformation to the continent,” he said.
Earlier, Vice President Shettima also met with the Prime Minister of St. Kitts and Nevis, Dr Terrance Drew, where both leaders recommitted to strengthening Africa-Caribbean ties.
Shettima assured that President Bola Ahmed Tinubu was determined to rekindle friendship and brotherhood between both nations.
“Going forward, we should have robust engagement and understanding. We should stand by each other. We should stand for one another. We should support each other’s interests.
“For St. Kitts and Nevis, and Nigeria, what binds us together supersedes whatever divides us. The majority of the population of the Caribbean is of African descent. A large chunk of them are English-speaking countries. Quite a number of them belong to the Commonwealth. So, the commonalities we share are so significant, but contact has been low, relative to what it ought to be,” the Vice President said.
He further assured, “So, your Excellency, I want to assure you that my boss is very keen on rekindling that friendship, that sense of brotherhood and sisterhood, and see to it that going forward, we should have robust engagement and understanding.”
Shettima recalled that President Tinubu visited Saint Lucia earlier in the year as part of his broader plan to reach out to Caribbean nations with African descent.
On his part, Dr Drew noted the limited trade and contact between Africa and the Caribbean and pledged St. Kitts and Nevis’ readiness to work with Nigeria to boost cooperation.
