{"id":346722,"date":"2025-08-15T05:16:00","date_gmt":"2025-08-15T04:16:00","guid":{"rendered":"https:\/\/www.thetidenewsonline.com\/?p=346722"},"modified":"2025-08-14T17:38:38","modified_gmt":"2025-08-14T16:38:38","slug":"afdb-secures-n3-4trn-for-agro-industrial-processing-in-nigeria","status":"publish","type":"post","link":"https:\/\/www.thetidenewsonline.com\/?p=346722","title":{"rendered":"AfDB Secures N3.4trn For Agro-industrial Processing In Nigeria"},"content":{"rendered":"<div dir=\"auto\">Africa Development Bank (AfDB) and its partners have mobilised 2.2 billion dollars (about N3.4 trillion) to implement special agro-industrial processing zones in Nigeria.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The outgoing President of AfDB, Dr Akinwumi Adesina, disclosed this in a paper presented at the 2025 Standard Chartered Bank Africa Summit recently held in Lagos.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">In a copy of the presentation obtained by The Tide&#8217;s source, Akinwumi said the fund would be deployed to implement the phase two of the special agro-industrial processing zones covering 24 states.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">He recalled that the bank and its partners had supported the launch of the special agro-industrial processing zones in the first eight States \u2013 Ogun, Oyo, Cross Rivers, Imo, Kaduna, Kwara, Kano and the Federal Capital Territory-.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Adesina, a former Minister of Agriculture and Food Security, said the initiative would revolutionise Nigeria\u2019s agricultural sector by enhancing food security, boosting domestic production and creating thousands of employment.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">According to him, investments are needed to unlock the agricultural potential in Nigeria and Africa in general, especially for value addition to agricultural commodities.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">To achieve that, he emphasised the need for the development of industrial platforms that would allow the continent to move up the agricultural value chains.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cThe 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.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cThe bank has committed over 934 million dollar towards the development of the special agro-industrial processing zones.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cWe have mobilised co-financing of 938 million dollar from partners, including the International Fund for Agricultural Development, the Islamic Development Bank, Japan International Cooperation Agency, and the West African Development Bank.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cWe have also launched together with partners, the Alliance for Special Agro-Industrial Processing Zones to accelerate the development of these zones across Africa, with 3 billion dollar in commitments,\u2019\u2019 he said..<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The AfDB President also disclosed that development of the special agro-industrial processing zones is ongoing in 27 sites across 11 countries in Africa.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Africa Development Bank (AfDB) and its partners have mobilised 2.2 billion dollars (about N3.4 trillion) to implement special agro-industrial processing zones in Nigeria. The outgoing President of AfDB, Dr Akinwumi Adesina, disclosed this in a paper presented at the 2025 Standard Chartered Bank Africa Summit recently held in Lagos. In a copy of the presentation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":209156,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-346722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/346722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=346722"}],"version-history":[{"count":1,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/346722\/revisions"}],"predecessor-version":[{"id":346725,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/346722\/revisions\/346725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/media\/209156"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=346722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=346722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=346722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}