Following the partnership with the Nigerian Government for the pilot phase of the Special Agro-Industrial Processing Zones, Imo state and six other States will benefit as the African Development Bank (AfDB) mobilizes $540m for the project.
The program development objective is to support inclusive and sustainable agro-industrial development in Nigeria.
The Program has four broad components namely: (i) Support the development of enabling climate-adapted infrastructure for Agro-Industrial Hubs (AIHs), (ii) Improve agricultural productivity and enterprise development to enhance agricultural value chains and job creation in the SAPZ Catchment Areas, (iii) Support Agro-Industrial Zone Policy and Institutional Development, and (iv) Program Coordination and Management.
Speaking after his meeting with President Muhammadu Buhari at State House Abuja on Thursday, Dr. Akinwumi Adesina, the President of the Bank disclosed that: “The African Development Bank has approved a total of $210 million while the Islamic Development Bank and the International Fund for Agricultural Development (IFAD) have approved $170 million and $160 million respectively, towards the program.”
Governor Hope Uzodimma had participated, as a focal Governor, in the signing of the partnership deed with the Bank for the program.
The program which aims to combat the rising global food insecurity would greatly position Imo State in the circuit of economies proffering solutions to the food crisis while creating employment opportunities for Ndi Imo.
The First Phase of the Special Agro-Industrial Processing Zones (SAPZs) Program will be implemented in seven (7) states (Cross River, Imo, Kaduna, Kano, Kwara, Ogun, and Oyo) and the Federal Capital Territory (FCT).
