Barrister Abdul-raheem Adebayo Lawal, the deputy governor of Oyo State, has joined delegates from six other states to launch the Nigeria Special Agro-Industrial Processing Zones initiative, which is taking place in Abuja, MOUTHPIECE NGR reports.
The African Development Bank, Islamic Development Bank, and International Funds for Agricultural Development have each contributed $400 million to the Federal Ministry of Agriculture’s program, code-named #SAPZNigeria, which is designed to ensure food security in Nigeria.
The launch will herald the implementation of SAPZ phase 1, and sends a strong message about Nigeria’s commitment to significantly transform its agriculture sector, create jobs, achieve food security, and generate economic revenue.
The two-day event will bring together government officials, implementing partners, potential investors, farmers, agripreneurs, members of the diplomatic corps, and the development community.
The event will feature the following:
- Day1 (October 24): SAPZ launch
- Day 2 (October 25): Partnerships and interaction with strategic investors
The Special Agro-industrial Processing Zones will feature world-class facilities capable of attracting global investment, particularly, private sector interest, and driving a market-oriented agricultural transformation that will boost agro-processing capacity across Africa.
Vice President Prof. Yemi Osinbajo, who launched the program on behalf of President Muhammad Buhari, said it was a well-considered response to food insecurity in Nigeria.
According to him, the initiative would achieve among other things, import substitution, create several jobs, stem rural urban migration, boost rural livelihood and improve business environment for Agro-industrial processes.
The breakdown of the funds indicates that African Development Bank would provide $200m, Islamic Development Bank $150m while International funds for Agricultural Development would cough in about $50m.
Seven out of the 36 states in Nigeria are benefiting from the program which include Oyo, Ogun, Kwara, Imo, Cross Rivers, kaduna, Kano and fct.