The African Development Bank (AfDB) and its development partners have mobilised $2.2 billion (approximately ₦3.4 trillion) to implement the second phase of Special Agro-Industrial Processing Zones (SAPZs) in Nigeria, AfDB President Dr. Akinwumi Adesina has revealed.

Adesina, who is serving his final term as president of the bank, made the disclosure in a presentation at the 2025 Standard Chartered Bank Africa Summit held recently in Lagos. A copy of his presentation was obtained by the News Agency of Nigeria (NAN).

According to Adesina, the new round of funding will support the expansion of the SAPZ initiative to 24 additional states across Nigeria. This builds upon the first phase, which launched in eight locations: Ogun, Oyo, Cross River, Imo, Kaduna, Kwara, Kano, and the Federal Capital Territory (FCT).

Adesina, a former Nigerian Minister of Agriculture and Food Security, said the agro-industrial zones are designed to revolutionise the agricultural sector by enhancing food security, boosting domestic food production, promoting agro-processing, and generating thousands of jobs.

“The AfDB is investing massively in the development of Special Agro-Industrial Processing Zones across Africa, enabled with infrastructure to support the establishment of industries to process and add value across a wide range of agricultural products,” he said.

He stressed that unlocking Africa’s agricultural potential requires substantial investment in industrial platforms that drive value addition and support agribusinesses to scale up across the continent.

The AfDB has committed over $934 million of its own resources to the SAPZ programme. An additional $938 million has been mobilised from co-financing partners, including:

  • The International Fund for Agricultural Development (IFAD)
  • The Islamic Development Bank (IsDB)
  • The Japan International Cooperation Agency (JICA)
  • The West African Development Bank (BOAD)

Adesina also revealed the launch of the Alliance for Special Agro-Industrial Processing Zones, a multilateral platform that has secured $3 billion in commitments to fast-track the development of agro-industrial hubs across the continent.

According to Adesina, construction and development of SAPZs are currently underway in 27 locations across 11 African countries. The initiative aims to transform rural economies by connecting agricultural production with industrial processing, logistics, and markets, thereby reducing post-harvest losses and increasing income for farmers.

The SAPZ model is a key part of the AfDB’s broader strategy to drive inclusive growth and structural transformation in Africa through agro-industrialisation.