Charity Nwakaudu, Abuja
African Development Bank (AfDB) has announced the sum of $500 million for Special Agro-processing Zones in Nigeria which will be remitted to the country’s before August ,2020.
Senior Special Adviser on Industrialization, AfDB, Oyebanji Oyelaran-Oyeyinka made this disclosure at a two day Special Agro-processing Zones inception workshop held in Abuja on Monday.
Oyeyinka stated that the project will not be government oriented but private sector driven and would be sited in four geopolitical zones.
“The process we are putting in place now is the requirements by the bank, we have to do identification, reappraisal and write a report, to make sure that the clients are involved. We are hoping that by July or August, we would go to the board and get the money disbursed to Nigeria, because it is already budgeted.
“We don’t want to make it a government thing, we want to make sure it is private sector driven. People like the Flour Mill, Dangote, we have talked to all of them, even the smaller ones, we are inviting all of them to come on board. And those are the ones that will set up factories and farms and so forth. But apart from that we also have the Bank of Industry, NIRSAL, National Sovereign Authority who will be helping us to package infrastructure.
“There are four zones where it will be sited, one in the north, North Central , South West, South South and South East. We want to start with these four zones. The second phase is next year, so while the first phase is starting, studies for the second phase is already beginning.”
Managing director, Bank of Industry (BIO) Olukayode Pitan in his remarks said that THE Industry had spent not less than N200 billion on SAPz, the last four years and about 1800 women and young people have benefited from it through employment.
Olukayode insisted that there is no need for importation of food in a country that is so blessed with land and water resources.
He said, “Bank of Industry is fully prepared for the Agro-processing industries. There is no better time for agricultural reformation than now.
“We have spent N 200bn on Agro-processing industries in the past four years and 1800 women and young people have benefited from it through employment. There is no need for food importation. We need to stand up and be the leaders of Africa that we are made to be.”
Minister of Agriculture and Rural Development while declaring the workshop open, said the Special Agro-processing Zones is a major strategy in the economic diversification programme of the current administration.
He said, “SAPz will boost value addition to Agriculture, improve competitive and reduce food imports,assure food sufficiency, create jobs for teaming youths and also generate revenue for the nation.”