AfDB, Partners To Fund Nigeria’s Agro-Industrial Zones With $1bn

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While much progress had “been made in African agriculture,” Adesina said “283 million people still go to bed hungry in Africa, about a third of the 828 million people that suffer hunger globally.”

The African Development Bank (AfDB) and its partners have voted $1 billion to fund special agro-industrial processing zones in 24 States of the nation.

Other partners that voted for the money include the Islamic Development Bank (IDB) and the International Fund for Agricultural Development.

This was announced on Friday by the AfDB President, Dr. Akinwumi A. Adesina, at the Norman Borlaug International Dialogue, World Food Prize 2023, in Des Moines, Iowa, United States of America.

Vice President Kashim Shettima, who is attending the event in pursuance of the food security and diversification policy of the Tinubu administration, on Wednesday delivered his keynote address at the ongoing Dialogue, a statement by the Vice President’s media aide, Stanley Nkwocha, said

In his speech titled, “From Dakar to Des Moines,” Adesina said that the decision to pump such huge funds into Nigeria’s agribusiness was part of the resolve to develop Special Agro-Industrial Processing Zones (SAPZs) in 13 countries.

“We are investing heavily in the development of SAPZs to support the development of agricultural value chains, food processing and value addition, enabling infrastructure and logistics to promote local, regional, and international trade in food,” he stated.

“The African Development Bank Group is investing $853 million in the development of the Special Agro-Industrial Processing Zones, and it has mobilized additional co-financing of $661 million, for a total commitment of $1.5 billion. We are deploying effective partnerships at scale. We are currently implementing 25 Special Agro-industrial Processing Zones in 13 countries.

“For example, the African Development Bank, Islamic Development Bank, and the International Fund for Agricultural Development provided $520 million for the development of 8 special agro-industrial processing zones in Nigeria. The second phase of the program aims to mobilize an additional $1 billion to deliver special agro-industrial processing zones in 24 States of Nigeria.”

Adesina regretted that while much progress had “been made in African agriculture, 283 million people still go to bed hungry in Africa, about a third of the 828 million people that suffer hunger globally.”

He, however, described the Norman Borlaug International Dialogue World Food Prize 2023, as a “journey and narrative of how we are combining the power of science, technology, policies, and politics to ensure that Africa fully unlocks its agricultural potential, and feeds itself, with pride.”

The AfDB President thanked Shettima and the President of Ethiopia, Sahle-Work Zewde, for participating in the global event, saying their presence is an indication “that Africa has the political will and is fully ready to tackle food insecurity and make hunger history” on the continent.

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Ikechukwu Anyanwu
PROFILE OF IKECHUKWU ANYANWU Ikechukwu Anyanwu is an Imo State born Nigerian. An Author, Public Speaker, Humanitarian, Blogger, Media Guru and Start-up Coach. He has inspired millions through Arise Africa Network Platform He Is Into Education, Media, Entertainment, Showbiz and Hospitality Industry. Having calved a nitche for himself as a leadership expert, human capital development and management consultant. He is currently the Chairman, Online Media practitioners Association of Nigeria, Imo State Chapter. Ceo Arise Africa Magazine, Founder Arise Africa Network – a non-profit organization. Face of Arise Africa, Managing Consultant GCFN Consult. Member, Imo State Bloggers Association. Ag National President, Association of Pageant CEO’s of Nigeria Human Resource Specialist and Leadership Coach with astute impact on many seeking to maximize their skills, intellectuals and innate potentials He has a track record of reproducing leaders and helping them to gain dominance within their nitch. Mr Anyanwu after a rich career that spanned for 18 years having worked as Human Resources Manger, Outlet Manager Rennys Foods Limited from 2004 – 2019, Management Consultant for various Quick Service Restaurants in Abuja, Enugu, Rivers State, Abia, Ebonyi, Kogi and Imo State is now focusing on helping young people to discover, develop their talents. He has built lots of platforms for young people of Africa to express their talents. He is passionate about writing, consulting, coaching and training. He blogs regularly via www.ariseafrika.com and has a thriving social media followership. He is a graduate of Sociology/Anthropology, Imo State University whose passion is to impart knowledge by educating, equipping and empowering young minds for the future. He is an alumni of Living Word Training Center He is also the West African Representative of All African Media Networks He is married to Mrs Carol Anyanwu and blessed with 3 sons.

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