18.4 C
London
Friday, June 14, 2024

Oyo, Cross River, and Kaduna states to receive portions of the $540 million allocated by the African Development Bank (AfDB) for the establishment of Special Agro-Industrial Processing Zones (SAPZs) in Nigeria.

In a recent development, Oyo, Cross River, and Kaduna states are poised to receive portions of the $540 million allocated by the African Development Bank (AfDB) for the establishment of Special Agro-Industrial Processing Zones (SAPZs) in Nigeria.

These three states are among the initial beneficiaries in the first phase of the project, with preparations underway for the disbursement of the funds.

Vice President Kashim Shettima has urged swift action in response to this funding opportunity, emphasizing the need for both the government and its development partners to actively engage in the project.

This call for action was conveyed through a statement issued by Stanley Nkwocha, the Senior Special Assistant to the President attached to the Vice President’s Office on Media and Publicity.

As part of the broader initiative to enhance food security in the country, other states are also slated to receive their shares of the funds.

The collaboration between the Federal Government and AfDB aims to bolster agricultural and industrial development across Nigeria.

Following presentations from representatives of AfDB and the United Nations Industrial Development Organisation (UNIDO) on ongoing projects in Nigeria, Vice President Shettima emphasized the importance of translating discussions into tangible actions.

He stressed the urgency of realizing President Bola Ahmed Tinubu’s vision for the nation and urged collective efforts towards its successful implementation.

In addressing the gathering, Vice President Shettima remarked, “We have passed the age of talking; we have to walk the talk. We can talk from now till eternity, and it does not mean anything if there is no action, and hence we must make this work. We just must.

“Reflecting on global examples of transformation without abundant natural resources, Shettima drew attention to Korea’s success in areas such as steel production and shipbuilding.

He underscored the belief that determination and action can pave the way for significant progress. As the SAPZ initiative unfolds, the focus remains on turning rural landscapes into prosperous economic zones through the power of commercial agriculture and food production.

Latest news

Related news