The Federal Government of Nigeria has commenced discussions with the African Development Bank (AfDB) to enhance collaboration aimed at strengthening food security and advancing the Special Agro-Industrial Processing Zones (SAPZ) project.
The talks, held in Abuja between the Ministry of Finance and the AfDB, are expected to leverage the Bank’s financial resources and technical expertise to tackle Nigeria’s pressing economic challenges, including food security and agricultural development.
At the meeting, the Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, emphasized the critical role of AfDB’s support as the country braces for an essential harvest season. He highlighted the importance of the SAPZ project in creating agro-industrial hubs that would strengthen the agricultural value chain, boost exports, and provide much-needed employment.
“The SAPZ project is key to Nigeria’s economic diversification and sustainable development,” Edun stated, noting the Bank’s previous successes in supporting agricultural initiatives across the continent.
Leading the AfDB delegation, Dr. Abdul Kamara, Director General for Nigeria, praised President Bola Ahmed Tinubu’s economic reforms as vital for addressing Nigeria’s current challenges. “These reforms are timely and essential for setting Nigeria on a path toward recovery,” Kamara remarked, reaffirming the AfDB’s commitment to supporting the government’s efforts.
Dr. Kamara also expressed sympathies for those affected by the recent flooding in Maiduguri, which has devastated local agriculture and displaced communities. He assured the Nigerian government of the Bank’s readiness to assist in flood recovery efforts, with a focus on rehabilitating farmlands and resuming agricultural activities to safeguard food security.
A major focus of the meeting was the advancement of the SAPZ project, which is designed to attract private investment, improve infrastructure, and create jobs. These zones aim to reduce the country’s reliance on food imports while enhancing Nigeria’s global competitiveness in agricultural exports.
AfDB’s involvement in the SAPZ project is considered crucial, with the Bank offering both financial aid and technical guidance. Dr. Kamara reaffirmed the Bank’s dedication to ensuring the project’s success, describing it as a cornerstone for Nigeria’s long-term economic stability and growth.
As Nigeria looks to address food security, unemployment, and inflation, the collaboration with AfDB will play a pivotal role in shaping the country’s future, with further engagements planned in agriculture, infrastructure, and industrial development.