VICE PRESIDENT OSINBAJO LAUNCHES NIGERIA’S SPECIAL AGRO-INDUSTRIAL ZONE PROGRAMME, BACKED BY AFDB, IsDB, IFAD

The Vice President, Prof. Yemi Osibanjo on Monday, 24th October, 2022 launched the Nigeria Special Agro-Industrial Processing Zones programme which is a government-enabled and private sector-led initiative that will mobilize private sector investment to develop value chains for selected strategic crops & livestock in the Participating States.

With the launch of the Special Agro-industrial Processing Zone (SAPZ) programme, Nigeria can, in less than a decade, banish food insecurity. The programme is also expected to help the country in improving export earnings from agriculture It is will also help in creating millions of lucrative agro-industrial jobs and opportunities for Nigerians.

Prof. Osinbajo noted that the launch of the SAPZ programme heralded a profoundly important moment in our agricultural odyssey.

If the Special Agro-Industrial Processing Zones programme delivers on its objectives and we have no doubt that it will, then we would in less than a decade deal a fatal blow to food insecurity, create millions of good paying agro-industrial jobs and opportunities and radically improve export earnings from agriculture.

A clear plan for the industrialization of agriculture, the deliberate development of value chains in the crops farmers grow and a pathway to net exportation of their produce.

The programme is now a critical component of our agricultural strategy, which is to accelerate the industrialization of our agricultural sector with the objective of being ahead of our constraints in providing food, nutrition, and wealth for the largest population in our continent.

The SAPZ programme is a government-enabled and private sector-led initiative that will to mobilize private sector investment to develop value chains for selected strategic crops and livestock in the participating states.

Nigeria will implement the first phase of the SAPZ programme with co-financing from the African Development Bank, the International Fund for Agricultural Development and the Islamic Development Bank.

The Vice President, who noted that the SAPZ programme was recently approved by the Federal Executive Council, stated that the programme is a major cross-cutting value chain investment effort driven by Federal Ministry of Agriculture and Rural Development, in alignment with the National Agricultural Technology & Innovation Policy of the Federal Government to incentivize agro-industrialization for private sector development.

Meanwhile, as the Buhari administration takes stock of its achievements over the years, VP Osinbajo has listed interventions made by the government in various sectors. The vice president made a presentation at the opening of the 3rd ministerial performance review retreat in Abuja. The Vice President also spoke on the need to ensure synergy between fiscal and monetary policy in order to better manage the economy and exchange rate concerns.

The event also featured remarks (delivered virtually) from the President, African Development Bank Group, Dr. Akinwumi Adesina.

The AFDB president noted that despite its massive agriculture potential, Africa still faced huge challenges in meeting its food needs, with 283 million people that go hungry annually.

 “Agriculture is critical for the survival of any nation. The most important role of any nation is to feed its people.  Food is a fundamental human right,” he said, adding that the African Development Bank is also supporting Nigeria, through Technologies for African Agricultural Transformation (TAAT) to produce more wheat, rice and maize. 

“This support will allow Nigeria to cultivate by next year 900,000 hectares of rice, 250,000 hectares of wheat and 107,000 hectares of maize,” he said.

The Presidential launch also featured remarks by representatives of IFAD and the Islamic Development Bank as well as the Cross River State Governor, Prof. Ben Ayade; Minister of Agriculture and Rural Development, Dr. Mohammad Mahmood Abubakar; Minister of Finance, Budget and National Planning, Dr. (Mrs.) Zainab Shamsuna Ahmed; and the Minister of Industry, Trade & Investment, Dr. Otunba Niyi Adebayo, among other senior government and regional representatives.

In another development, Vice President Yemi Osinbajo said said the relationship between Nigeria and the Islamic Development Bank (IsDB), was helpful, noting that the bank “understands the nuances of countries in the global South and for that reason, you (IsDB) are able to be more creative and more sensitive to our needs when you consider requests coming from us.”

Using the example of the funding request for the Nigerian-Moroccan Pipeline project, the VP said “if given all of the considerations today with the global North Development Finance Institutions, we (Nigeria) will not be considered favourably for the facility because of the talk about defunding fossil fuel projects and all that. But it is evident that we cannot do without fossil fuels at least for the next several decades and we have fossil fuels, this is a natural resource for us and it is available not just for industry alone but also for cooking.”

 “I think that we are fortunate that we have IsDB, they are there… if we were to be subjected to the policies of the global north DFIs, we will be in serious trouble. So, I thank you again, and to say that the collaboration between the Bank and Nigeria is a strong one and one that we respect greatly,” Prof. Osinbajo added.

Earlier in his remarks, the President and Chairman of the IsDB, Mr Muhammed Al Jasser said Nigeria is one of the bank’s most valued partners, noting that the relationship between Nigeria and IsDB will continue to grow stronger.

Mr Jaseer reiterated the bank’s commitment to support the Federal Government’s economic diversification efforts especially through agricultural industrialization.

Accompanying him to the meeting was the Nigerian born Vice President of the bank, Dr Mansur Mukhtar. The Finance Minister, Mrs Zainab Ahmed and the FCT Minister of State, Hajiya Ramatu Tijjani were also at the meeting.

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