AfDB mobilizes $540m for Nigeria’s food security

The African Development Bank (AfDB) has expressed readiness to support Nigeria to develop Special Agro-Industrial Processing Zones, as part of the quest for food security in the country.

The AfDB President, Dr. Akinwumi Adesina, made this known while briefing President Muhammadu Buhari at State House in Abuja on Tuesday.

According to a statement issued and made available to The Star on Wednesday by Femi Adesina, the Special Adviser to the President on Media and Publicity, Dr. Adesina said: “We have decided to mobilize $540 million for the program. The African Development Bank has approved a total of $210 million.

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“The Islamic Development Bank and the International Fund for Agricultural Development (IFAD) have approved $170 million, and $160 million respectively, towards the program.”

The AfDB President indicated that the processing zones will initially be rolled out in seven states, including Kano, Ogun, Oyo, Kaduna, Kwara, Imo, Cross River, and the Federal Capital Territory.

“I look forward, Your Excellency, to your formal launch of these Special Agro-Industrial Processing Zones, very soon,” Dr. Adesina added.

In his remarks, President Buhari commended AfDB for being foresighted and proactive about food security on the continent, and Nigeria specifically.

The Star