AFDBBy Ismaeel Aleem
Vice President Kashim Shettima secured a renewed funding commitment from the African Development Bank (AfDB) for the second phase of Nigeria’s Special Agro-Industrial Processing Zones (SAPZ) during a bilateral meeting with AfDB President Dr Sidi Ould Tah on the sidelines of the 80th United Nations General Assembly (UNGA80) in New York.
The initiative, set to expand from eight states and the FCT to 24 states, aims to bolster climate-resilient infrastructure and diversify Nigeria’s economy through value-added agricultural exports.
Shettima highlighted Nigeria’s significant stake as the AfDB’s largest shareholder, with a portfolio exceeding $10 billion, and urged further support, citing the $300 million previously provided.
“We are poised to diversify our mono-product economy into agriculture, especially value-added exports. Nigeria’s fertile soils across its agro-ecological zones hold immense potential,” he said, also noting the country’s development-oriented youth population.
The Vice President called for AfDB support for innovation-driven enterprises beyond MSMEs, emphasising opportunities in Nigeria’s digital sector, which hosts five of Africa’s eight unicorns.
Minister of Environment Balarabe Lawal sought backing for Nigeria’s Great Green Wall Project to combat desertification, while Housing Minister Ahmed Dangiwa requested funds to address the housing deficit.
Dr Tah affirmed the AfDB’s commitment to mobilising global capital for Africa’s transformation, focusing on job creation and industrialisation.
In a separate meeting, Shettima engaged St. Kitts and Nevis Prime Minister Dr Terrance Drew to strengthen Africa-Caribbean ties.
He underscored President Bola Tinubu’s commitment to fostering brotherhood, noting shared cultural and Commonwealth ties.
“What binds us supersedes what divides us,” Shettima said, advocating for robust engagement. Drew expressed readiness to boost trade with Nigeria, addressing the historically low contact between the regions.
