AfDB pledges fresh support for Nigeria’s agro-industrial zones

…as Shettima advances Africa-Caribbean ties at UNGA80

By Kunle Sanni –

Nigeria has secured a renewed funding commitment from the African Development Bank (AfDB) to expand the country’s Special Agro-Industrial Processing Zones (SAPZ) project, with Phase 2 set to cover 24 additional states.

Vice President Kashim Shettima made the case for increased support during a bilateral meeting with AfDB President, Dr. Sidi Ould Tah, on the sidelines of the 80th United Nations General Assembly in New York.

SAPZ Phase 2 will focus on scaling up climate-resilient infrastructure and boosting inclusive agro-industrial growth, building on the first phase that covered eight states and the Federal Capital Territory. The initiative is part of Nigeria’s drive to diversify its economy away from oil and strengthen value-added agricultural exports.

“Like Oliver Twist, we are asking for more because we are poised to diversify our mono-product economy into agriculture, especially value-added agricultural export,” Shettima said, noting Nigeria’s fertile soils and diverse agro-ecological zones.

The Vice President also urged the AfDB to expand support beyond micro, small, and medium enterprises to include innovation-driven enterprises, particularly in the digital space. He highlighted Nigeria’s strong showing in Africa’s tech ecosystem, with five of the continent’s eight unicorns emerging from the country.

Supporting Shettima’s call, Minister of Environment, Balarabe Lawal, sought AfDB’s backing for Nigeria’s Great Green Wall Project to combat desertification, while Housing Minister, Ahmed Dangiwa, appealed for funding to address the nation’s housing deficit.

Responding, Dr. Tah pledged to position the AfDB as a “catalyst institution” to mobilise resources for Africa’s transformation. He outlined his vision anchored on four priorities: mobilising large-scale capital through partnerships, reforming Africa’s financial architecture, converting demographic dividends into economic strength, and industrialising the continent.

Meanwhile, Vice President Shettima also held talks with the Prime Minister of St. Kitts and Nevis, Dr. Terrance Drew, to deepen Africa-Caribbean cooperation. Both leaders pledged to strengthen trade, cultural and diplomatic ties, with Shettima emphasising shared historical and linguistic bonds.