FCT tops Nigerian states benefiting from $520m agro-industrial fund
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The Federal Capital Territory Abuja is top of a list of sub-national states in Nigeria benefitting from a $520 million agricultural development fund that has been set aside by the African Development Bank (AfDB) for the country.
Austine Elemue, special adviser on media to minister of state, FCT, Ramatu Tijani Aliyu, in a statement, disclosed that beneficiaries are states selected to benefit from the first phase of the SAPZ establishment project in Nigeria, while other states include, Kaduna, Kwara, Kano, Imo, Cross River, Ogun and Oyo
The African Development Bank (AfDB), alongside the Islamic Development Bank (IDB) and other international bodies, is earmarking $520 million for agricultural development in some states in Nigeria, according to Banji Oyeyinka, senior special adviser to Akinwumi Adesina, president, AfDB, on industrialisation.
The AfDB and the International Fund for Agricultural Development (IFAD) have committed $160 million each, while the Islamic Development Bank has set aside $150 million, and the Africa Growing Together Fund has committed $50 million for the cause of developing the first phase of Special Agro-industrial Processing Zones, SAPZ in some selected states across Nigeria, a project expected to be launched soon.
The selection of the Nigerian states was based on an assessment of their state of readiness, and apart from the FCT, other states would be selected to participate in subsequent phases as Ramatu Aliyu is quoted as noting that the FCT administration was fully committed to the success of the project expected to facilitate the development of satellite towns and rural communities, create jobs and employment, enhance security of lives and property, generate wealth, and improve governance outcomes.