Special Agro-Industrial Processing Zones (SAPZ) initiative launched today by President Buhari
The President of Nigeria, Muhammadu Buhari, jointly with the African Development Bank, the Islamic Development Bank and the International Fund for Agricultural Development will launch the Special Agro-industrial Processing Zones (SAPZ) initiative for Nigeria on 24 and 25 October 2022.
The launch in the federal capital, Abuja, will herald the implementation of SAPZ phase 1, and sends a strong message about Nigeria’s commitment to significantly transform its agriculture sector, create jobs, achieve food security, and generate economic revenue.
The first phase of the Nigeria SAPZ program is co-financed by key development partners to the tune of $538.05 million. The African Development Bank is providing $210 million. The Islamic Development Bank and the International Fund for Agricultural Development will provide combined funding of $310 million. The government of Nigeria is contributing $18.05 million.
The two-day event will bring together government officials, implementing partners, potential investors, farmers, agripreneurs, members of the diplomatic corps, and the development community.
The event will feature the following:
- Day1 (October 24): SAPZ launch
- Day 2 (October 25): Partnerships and interaction with strategic investors
The Special Agro-industrial Processing Zones will feature world-class facilities capable of attracting global investment, particularly, private sector interest, and driving a market-oriented agricultural transformation that will boost agro-processing capacity across Africa.
