FG, AfDB parley to boost Nigeria’s agricultural productivity

The federal government has held talks with the African Development Bank (AfDB) to find ways to revolutionise Nigeria’s agricultural sector and drive economic growth.

The high-level dialogue which was held on Wednesday at the AfDB Country Office, Abuja aimed basically to accelerate the implementation of the Special Agro-industrial Processing Zones (SAPZ-1) Programme.

The Special Agro-Industrial Processing Zones (SAPZ) program in Nigeria aims to enhance agricultural productivity and value chains by establishing designated zones for agribusinesses.

Launched with support from the African Development Bank, it focuses on strategic crops like maize, cassava, and rice. It aims to create millions of jobs, particularly for youths and women.

The initiative includes infrastructure and skills development, market access improvements, and climate resilience strategies, with an estimated budget of $538 million for its first phase, spanning 2022-2026

At the meeting, Wale Edun, Minister of Finance and Coordinating Minister of the Economy, highlighted the strategic role of the SAPZ-1 programme in transforming Nigeria’s agricultural sector into a key driver of economic growth and industrialisation, emphasising the importance of collaboration between the federal government and the private sector in achieving increased domestic production, job creation, and poverty alleviation.

Edun noted the crucial role of the private sector in achieving President Tinubu’s vision of industrialization and sustainable economic growth.

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He explained that the SAPZ-1 programme is a strategic investment initiative aimed at industrialising Nigeria’s Agricultural Sector and fostering inclusive growth across the country and that its first phase is being implemented in seven states and the Federal Capital Territory, with the support of international development financiers, including the AfDB, Islamic Development Bank (IsDB), and the International Fund for Agricultural Development (IFAD).

The Coordinating Minister of the Economy underscored the urgency of the programme, emphasizing further the need for a successful wet and dry season harvest to address inflation, stabilize the exchange rate, and lay the groundwork for future investment.

“Our immediate priority is ensuring that food production meets the needs of Nigerians while setting the stage for long-term economic growth. This is pivotal not only for inflation control but also for strengthening the nation’s overall economic stability,” the minister added

He noted that the temporary importation policy – which is yet to commence – is necessary to fill gaps in the short term, and assured that it will not disrupt ongoing efforts in domestic farming and food processing.

Instead, he said these efforts are intended to ensure food availability while positioning Nigeria for export opportunities soon.

“The success of this programme will directly impact inflation, interest rates, and the overall investment climate, making it a critical component of our broader economic strategy,” Edun explained.

A statement signed by Mohammed Manga, the director of information and public relations at the Ministry of finance noted that the SAPZ-1 High-Level Implementation Acceleration Dialogue and States Steering/Technical Committee Workshop, brought together key stakeholders from state governments, the private sector, and development partners to address implementation challenges and drive progress in the nation’s agricultural transformation.

In attendance were prominent figures and top government officials, including Abubakar Kyari, the minister of Agriculture and Food Security; Armstrong Takang, CEO, of Ministry of Finance Incorporated (MOFI); Abdul Kamara, Director General, Nigeria Country Department at the AfDB; and other representatives from partner institutions such as IFAD and IsDB.

Discussions focused on overcoming bottlenecks and ensuring that all stakeholders align their efforts to meet the ambitious goals of the SAPZ-1 programme, which aims to modernize Nigeria’s agricultural sector and drive economic growth.