The Federal Government has successfully secured increased financial backing from the African Development Bank (AfDB) to advance the second phase of the Special Agro-Industrial Processing Zones (SAPZ) initiative.
Phase two of SAPZ aims to enhance climate-resilient infrastructure and promote inclusive agro-industrial development across 24 additional states, expanding from the original eight states plus the Federal Capital Territory (FCT). This expansion is designed to transform Nigeria’s economy from reliance on a single commodity to a diversified, value-added agricultural export base.
Vice President Kashim Shettima made this appeal during a bilateral discussion with AfDB President Dr. Sidi Ould Tah in New York, on the sidelines of the 80th United Nations General Assembly (UNGA) session.
Highlighting Nigeria’s significant stake in the AfDB, the Vice President noted that the country is the bank’s largest shareholder, with a portfolio exceeding $10 billion.
“We appreciate the $300 million support you extended during your tenure in Liberia. However, much like Oliver Twist’s famous plea, we are compelled to ask for additional assistance as we are committed to diversifying our economy through agriculture, particularly by boosting value-added agricultural exports,” Shettima stated.
He emphasized Nigeria’s vast agricultural potential across diverse ecological zones-from the southern mangrove swamps to the northern Sahelian region-where virtually any crop can thrive. For instance, states like Kebbi are endowed with highly fertile soil, ideal for agricultural productivity.
Shettima also underscored Nigeria’s dynamic and ambitious youth population, eager to engage in the modern workforce and contribute to national development.
Furthermore, the Vice President urged the AfDB to broaden its support beyond micro, small, and medium enterprises (MSMEs) to include innovation-driven startups, recognizing the immense opportunities within Africa’s digital economy.
“Africa’s digital landscape holds tremendous promise. Out of the continent’s eight unicorn companies, five are Nigerian, including Moniepoint and Jumia. We stand firmly with you and are committed to this partnership,” Shettima affirmed.
In a related appeal, Minister of Environment Mallam Balarabe Lawal requested AfDB’s continued backing for the Pan African Great Green Wall Initiative, with a focus on Nigeria’s efforts to combat desertification in the Sahel region.
“We seek your support for Nigeria’s National Agency for the Great Green Wall, which leads efforts to halt desert encroachment in the Sahel. We have made significant progress in addressing environmental degradation across 11 frontline states,” Lawal explained.
He also highlighted a proposal submitted to the Ministry of Finance concerning a clean cooking policy, which aligns with afforestation goals by tackling deforestation and improving public health.
Minister of Housing and Urban Development, Alhaji Ahmed Dangiwa, appealed for AfDB’s assistance in addressing Nigeria’s housing shortage, emphasizing the urgent need for substantial investment in the housing sector.
Responding, AfDB President Dr. Sidi Ould Tah pledged unwavering support for Nigeria’s human capital development under his leadership.
“My vision for the bank transcends traditional lending; I see it as a catalyst to mobilize global resources and capital for Africa. Our goal is to attract significant investments to transform the continent and add value to its agricultural sector,” Dr. Tah stated.
He outlined four strategic priorities: mobilizing large-scale capital through partnerships, reforming Africa’s financial systems, leveraging the continent’s demographic dividend to create jobs, and industrializing Africa by utilizing natural resources to build resilient infrastructure.
“These pillars form the foundation of our strategy to accelerate Africa’s development. With your collaboration, I am confident we can drive meaningful transformation across the continent,” he concluded.
Earlier, Vice President Shettima engaged in a bilateral meeting with Dr. Terrance Drew, Prime Minister of St. Kitts and Nevis, reaffirming commitments to deepen economic and cultural relations.
Shettima conveyed President Bola Ahmed Tinubu’s dedication to revitalizing the friendship and solidarity between Nigeria and St. Kitts and Nevis.
“Moving forward, we must foster strong cooperation and mutual support. The ties that unite us far outweigh any differences. The majority of the Caribbean’s population is of African descent, many are English-speaking, and several belong to the Commonwealth. Despite these shared bonds, our interactions have been limited,” he remarked.
“Your Excellency, I assure you that President Tinubu is eager to renew this brotherhood and sisterhood, ensuring robust engagement and understanding in the years ahead,” Shettima added.
The Vice President also recalled President Tinubu’s visit to Saint Lucia earlier this year as part of a broader initiative to connect with Caribbean-African diaspora communities.
Prime Minister Drew acknowledged the current low levels of trade and interaction between Caribbean nations and Africa and expressed his country’s willingness to collaborate closely with Nigeria to enhance trade across the African continent.
