The African Development Bank (AfDB) and its partners have mobilized $2.2 billion (approximately ₦3.4 trillion) to fund the second phase of the Special Agro-Industrial Processing Zones (SAPZ) project in Nigeria. This initiative is set to expand into 24 states, following a successful first phase.
Dr. Akinwumi Adesina, the outgoing President of the AfDB, disclosed the funding during a recent presentation at the 2025 Standard Chartered Bank Africa Summit in Lagos. He stated that the funds will support the next phase of the initiative, which aims to transform Nigeria’s agricultural sector through value chain development and industrialization.
Adesina, who is a former Minister of Agriculture and Food Security in Nigeria, explained that the SAPZ initiative is designed to revolutionize the agricultural sector by boosting food security, enhancing domestic production, and creating thousands of jobs. He emphasized that investments like these are essential to unlock Africa’s agricultural potential by adding value to commodities.
The AfDB is investing significantly in these zones across the continent, equipping them with infrastructure to support industries that process a wide range of agricultural products.
The AfDB’s commitment to the project totals over $934 million. The bank has also mobilized $938 million in co-financing from key partners, including:
- International Fund for Agricultural Development (IFAD)
- Islamic Development Bank (IsDB)
- Japan International Cooperation Agency (JICA)
- West African Development Bank (BOAD)
In addition to this, the AfDB and its partners have launched the Alliance for Special Agro-Industrial Processing Zones, with $3 billion in commitments to accelerate the development of these zones across Africa. The AfDB President noted that development is currently underway at 27 sites across 11 African countries.
The first phase of the SAPZ project was launched in eight locations: Ogun, Oyo, Cross River, Imo, Kaduna, Kwara, Kano, and the Federal Capital Territory (FCT). This initial phase focused on boosting food production, reducing post-harvest losses, and attracting agro-industrial investments by providing key infrastructure in rural farming communities.
