The President of the African Development Bank, AfDB, Dr Adesina Adewumi, has disclosed that they have invested over $934 million into building Special Agro-Industrial Processing Zones, SAPZ, across 11 African countries.
Adesina said that Nigeria’s first phase covers eight states, including Cross River State, where Vice President Kashim Shettima performed the groundbreaking ceremony for the SAPZ in Calabar yesterday.
Adesina, who spoke in Calabar, disclosed that a second phase, aimed at expanding to 28 states, will see an estimated investment of $2.2 billion.
The AfDB president expressed his pride in seeing the SAPZ vision come to life after years of challenges in implementation.
He emphasised the economic potential of SAPZs, particularly in creating jobs, reducing food imports, and fostering private investments.
Adesina also highlighted Nigeria’s vast agricultural potential, urging for a united effort to achieve food self-sufficiency and leadership in agricultural exports.
He credited the strong political will from President Bola Tinubu, the unwavering support from Vice President Shettima, and the collaboration between key ministers as vital factors driving the success of the SAPZ initiative.
“This project is set to have a significant transformational impact, particularly in rural areas, with potential for job creation and economic revitalisation through the development of modern agro-industrial hubs,”; he said.
Earlier, Vice President Shettima officially launched the project, a major step towards realising President Bola Tinubu’s vision for a prosperous Nigeria under the Renewed Hope Agenda.
Shettima described the SAPZ initiative as a game-changer that aligns with the country’s aspirations for economic growth, job creation, and food security, commending the collaboration among the AfDB, Islamic Development Bank, IFAD, and the Cross River State Government.
He noted their collective efforts in bringing the project to fruition, emphasising that the SAPZ would serve as an important catalyst for national development, particularly in addressing food security.
Speaking, Governor Bassey Otu emphasised that the SAPZ project perfectly fits his prosperity agenda, expressing confidence in the success of the project.
He assured stakeholders that it will benefit agricultural regions in Cross River—including Ikom, Yala, Obanliku, Obubra, and others—by transforming them into key hubs for agricultural productivity and industrial growth.
