AfDB Secures $2.2B for Nigeria’s Agro-Industrial Hubs

The African Development Bank Group has helped secure $2.2 billion in funding for the second phase of Nigeria’s Special Agro-Industrial Processing Zones initiative. This phase will build on the success of the first and aims to connect federal and state governments to key agricultural infrastructure.

The announcement was made at the Africa Investment Forum in Morocco, where Nigerian state governors, leaders from multilateral development organizations, diplomats, and private sector investors gathered to show their support. This ambitious initiative aims to transform Nigeria’s agricultural sector. Building on phase one, it will create agro-industrial hubs designed to boost productivity, improve food security, raise living standards, and generate jobs.

The bank reported that the boardroom session brought together top investors, including Arise IIP, the Arab Bank for Economic Development in Africa, Africa Export-Import Bank, Sahara Farms, BPI France, Africa50, and the US Development Finance Corporation. At the session’s close, organizers revealed a total deal value of $2.2 billion, marking a major milestone in the development of SAPZ Nigeria Phase II.

Phase I of the program includes Nigerian states such as Cross River, Imo, Ogun, Oyo, Kaduna, Kwara, Kano, and the Federal Capital Territory. SAPZ Nigeria Phase II is now underway, with plans to expand to 24 states over the next three years. This phase will link Nigeria’s agricultural sector to agro-industrialization to drive economic growth.

Dr. Abdul B. Kamara, the Bank’s Director General for Nigeria, expressed his enthusiasm, stating, “I am pleased to see this whopping investment interest and commitments by our financing partners for Nigeria, at a time when the country is ramping up efforts to attract investments into the agriculture sector to address food security, create job opportunities and boost economic growth.”

According to Dr. Akinwumi Adesina, President of the African Development Bank Group, “This is a defining moment for Nigeria’s agricultural transformation. The Nigeria SAPZ II project will create millions of jobs, empower smallholder farmers, and position Nigeria as a leader in agro-industrialization. These investments exemplify the power of collaboration to achieve sustainable development in Africa.”

The SAPZ Nigeria program is a nationwide, government-supported, private-sector-driven initiative aimed at transforming Nigeria’s agricultural sector. Strategically located in regions with high agricultural potential, these zones are equipped with essential infrastructure, shared services, and policy incentives to attract and integrate both agricultural and industrial businesses. The African Development Bank Group remains dedicated to driving inclusive growth across Africa, with the Nigeria SAPZ II project showcasing its commitment to impactful, large-scale development through strategic partnerships.