Cross River Set to Benefit from AfDB Fund for Agricultural Development
Cross River state is poised to receive its share of a $540 million fund allocated by the African Development Bank (AfDB) for the development of Special Agro-Industrial Processing Zones (SAPZs) in Nigeria. This initiative, part of the government’s efforts to enhance food security and stimulate economic growth, underscores the importance of agricultural development in driving sustainable development.
Vice President Kashim Shettima emphasized the need for swift action to capitalize on the potential of SAPZs, urging stakeholders to prioritize efficient project implementation. He reiterated the government’s commitment to accelerating economic transformation and leveraging partnerships for inclusive growth.
Prof. Banji Oyelaran-Oyeyinka, representing AfDB, highlighted the objectives of the SAPZ initiative, emphasizing its potential to catalyze agro-industrial development and create employment opportunities. He outlined the criteria for state eligibility and urged prompt documentation to expedite project implementation.
In addition to SAPZs, efforts to revitalize key industries such as the Ajaokuta Steel Company Limited were discussed, underscoring the government’s multifaceted approach to economic revitalization. With collaborative initiatives and strategic investments, Cross River, Kaduna, and other beneficiary states are poised to harness their agricultural potential and drive sustainable development.