Launched in October 2022 by then-Vice President Yemi Osinbajo, the SAPZ program aims to eliminate food insecurity, boost agricultural exports, and create millions of jobs in agro-industrial sectors within a decade. The first phase, covering Kano, Imo, Kaduna, Cross River, Kwara, Oyo, Ogun, and the Federal Capital Territory, was supported by $210 million from the AfDB, $310 million from the Islamic Development Bank (IsDB) and IFAD, and $18.05 million from the Nigerian government.
Osinbajo described the initiative as a government-supported, private-sector-driven effort to attract significant investment into crop and livestock value chains. The zones aim to reduce Nigeria’s food import dependency, increase export revenues, create sustainable jobs for women and youth, and revive underutilized agro-industrial assets.
During the meeting, Vice President Shettima reiterated Nigeria’s commitment to diversifying its economy through agriculture, particularly value-added exports, and highlighted the country’s status as the AfDB’s largest shareholder with a portfolio exceeding $10 billion.
“We urge you to further support us in the phase 2 Special Agro-Industrial Processing Zones (SAPZ). You assisted us with $300 million when you were in Liberia. We want to thank you, but like Oliver Twist, we are asking for more because we are poised to diversify our mono-product economy into agriculture, especially value-added agricultural export.
And we have the potential in all the agro-ecological zones in Nigeria. From the mangrove forest swamps in the south to the Sahelian region in the far north, you can virtually grow anything. In states like Kebbi, the soil is very fertile,” he said.
Shettima also emphasized Nigeria’s youthful population, describing them as dynamic and ready to contribute to a modern workforce. He urged the AfDB to expand its support beyond micro, small, and medium enterprises (MSMEs) to include innovation-driven businesses, particularly in the digital economy.
“We can catalyse and accelerate the digital space in Africa. Already, out of the eight unicorns in Africa, five are from Nigeria – Moniepoint, Jumia, and the rest. We want to reiterate once again that we are with you, we are for you, and we will stand by you,” he said.
In response, AfDB President Dr. Sidi Ould Tah reaffirmed the bank’s commitment to Nigeria’s development.
“Dr Sidi Ould Tah assured that under his leadership, the bank will spare no effort to provide Nigeria with the support it deserves in terms of developing its human capital.
“My vision for the bank is not as a lending institution, but as a catalyst institution with which to mobilise resources and capital from all over the world to Africa. I hope we can really bring capital to the continent to make the transformation of our continent possible and bring value to the agricultural sector.
“This is why my four cardinal points are: mobilise large-scale capital through partnerships, reform Africa’s financial architecture, convert the continent’s demographic dividend into economic strength for job creation, and industrialise Africa by harnessing its natural resources to add value and build resilient infrastructure.
“These points form my roadmap to guide the bank’s strategy and accelerate Africa’s development, and I’m confident that with your support, the bank will be able to bring transformation to the continent,” the statement read.
“I want to appeal for the extension of your support to Nigeria’s National Agency for the Great Green Wall. The agency is responsible for containing desertification in the Sahelian part of Africa. I also want to plead that you look at what we have done so far in addressing environmental degradation in the 11 frontline States.
We have already submitted our proposal to the Ministry of Finance on the issue of clean cooking policy, which is also directly linked to the afforestation process. It is important because it will address two issues of deforestation and health.”
