The President of Nigeria, Muhammadu Buhari, jointly with the African Development Bank, the Islamic Development Bank and the International Fund for Agricultural Development will launch the Special Agro-industrial Processing Zones (SAPZ) initiative for Nigeria on 24 and 25 October 2022.
The SAPZ phase 1 implementation will be announced during the launch in the federal capital of Abuja, which also sends a clear message about Nigeria’s determination to alter its agriculture sector dramatically, create jobs, attain food security, and produce economic revenue.
Key development partners contributed $538.05 million to co-finance the first phase of the Nigeria SAPZ program. The African Development Bank contributes $210 million. A total of $310 million in funding will be given by the Islamic Development Bank and the International Fund for Agricultural Development. The Nigerian government will contribute $18.05 million.
Government representatives, implementing partners, prospective investors, farmers, agripreneurs, diplomats, and members of the development community will all be present during the two-day conference.
The event will feature the following:
Day 1 (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.
