Adesina: AfDB to Support Nigeria’s Agro-Industrial Processing Zones with $540m

Deji Elumoye 

The President of African Development Bank (AfDB), Dr. Akinwumi Adesina, has disclosed that the Bank would support Nigeria to develop Special Agro-Industrial Processing Zones, as part of the quest for food security in the country.

A statement yesterday by the Media Adviser to President Buhari, Femi Adesina, quoted Adesina to have disclosed this while briefing President Muhammadu Buhari at the State House, Abuja on Tuesday.

 According to Adesina: “We have decided to mobilise $540 for the program. The African Development Bank has approved a total of $210 million. The Islamic Development Bank, and the International Fund for Agricultural Development (IFAD) have approved $170 million, and $160 million respectively, towards the program.”

The AfDB President indicated that the processing zones would initially be rolled out in seven States, including Kano, Ogun, Oyo, Kaduna, Kwara, Imo, Cross River, and the Federal Capital Territory.

“I look forward, Your Excellency, to your formal launch of these Special Agro-Industrial Processing Zones, very soon,” the AfDB boss added.

Responding, President Buhari commended AfDB for being foresighted and proactive about food security on the continent, and Nigeria specifically.