The African Development Bank (AfDB) says it has committed 86 million dollars to the implementation of the Special Agro-Industrial Processing Zones (SAPZ) Programme in Nigeria as of March 31.
Dr Orison Amu, Implementation Support Manager, Nigeria Country Department, AfDB, who was represented, disclosed this on Wednesday June 10 in Abuja at the Mid-Term Review Meeting of the SAPZ Programme. Amu said the commitment rate was projected to rise to 70 per cent from 41 per cent, while disbursement was expected to reach 35 per cent from 12 per cent by the end of 2026.
He said the SAPZ Programme was one of the bank’s flagship initiatives aimed at transforming agriculture through agro-industrial development.
Also speaking, the Country Director of the International Fund for Agricultural Development (IFAD), Ms Dede Ekoue, also represented, said the organisation had approved an additional 50 million dollars for SAPZ implementation, complementing an earlier 50 million dollars already signed. She said IFAD remained committed to supporting investments capable of unlocking opportunities for smallholder farmers.
She noted that the SAPZ programme has linked farmers with agro-industrial markets through the Multi-Stakeholder Agribusiness Forum (MAF).
She urged stakeholders to maintain focus on institutional readiness, quality implementation, fiduciary discipline, environmental and social safeguards, as well as measurable results for beneficiaries.
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