The Nigerian Government has obtained renewed financial backing from the African Development Bank (AfDB) to launch Phase 2 of the Special Agro-Industrial Processing Zones (SAPZ) initiative. This next phase aims to extend climate-resilient infrastructure and inclusive agro-industrial development to 24 additional states, building on the initial rollout in eight states and the Federal Capital Territory.
The expanded programme is designed to shift Nigeria’s economy from its heavy reliance on crude oil toward value-added agricultural exports.
During a bilateral meeting in New York with AfDB President Dr. Sidi Ould Tah—held on the sidelines of the 80th United Nations General Assembly—Vice President Kashim Shettima formally requested the enhanced funding. He emphasized Nigeria’s status as AfDB’s largest shareholder, with a portfolio exceeding $10 billion.
“We appreciate the $300 million support previously extended during your tenure in Liberia,” Shettima said. “But like Oliver Twist, we’re asking for more. Nigeria is committed to transforming its economy through agriculture, and we have the ecological diversity to support it—from the mangrove swamps in the south to the Sahel in the north.”
He also highlighted Nigeria’s dynamic youth population, eager to contribute to modern economic sectors, and urged AfDB to broaden its support beyond MSMEs to include innovation-driven enterprises. “Africa’s digital economy is ripe for acceleration,” he noted, citing Nigeria’s dominance in the continent’s tech unicorn landscape, with firms like Moniepoint and Jumia leading the charge.
Environmental and Housing Appeals
Minister of Environment Mallam Balarabe Lawal called for AfDB’s continued support for the Pan African Great Green Wall Initiative, particularly Nigeria’s efforts to combat desertification in 11 frontline states. He also referenced a proposal submitted to the Ministry of Finance on clean cooking policies, which align with afforestation and public health goals.
Meanwhile, Minister of Housing and Urban Development Alhaji Ahmed Dangiwa appealed for substantial funding to address Nigeria’s housing deficit, stressing the urgent need for investment in the sector.
AfDB’s Strategic Vision
Responding to the delegation, AfDB President Dr. Sidi Ould Tah reaffirmed the bank’s commitment to supporting Nigeria’s development. He outlined his strategic vision for AfDB—not merely as a lender, but as a catalyst for mobilizing global capital to transform Africa.
His four-point agenda include:
• Mobilizing large-scale capital through strategic partnerships
• Reforming Africa’s financial systems
• Turning demographic growth into economic opportunity
• Industrializing the continent by adding value to natural resources and building resilient infrastructure
“These pillars will guide our efforts to accelerate Africa’s transformation,” Dr. Tah concluded, expressing confidence in Nigeria’s partnership and potential.