Akinwumi Adesina, outgoing President of the African Development Bank (AFDB).
Africa Development Bank (AfDB) and its partners have mobilized $2.2 billion (about ₦3.4 trillion) to implement special agro-industrial processing zones in Nigeria.
The outgoing President of AfDB, Dr. Akinwumi Adesina, disclosed this in a paper presented at the 2025 Standard Chartered Bank Africa Summit in Lagos.
According to Adesina, the fund will be deployed to implement phase two of the special agro-industrial processing zones covering 24 states.
He recalled that the bank had supported the launch of these zones in the first eight states – Ogun, Oyo, Cross Rivers, Imo, Kaduna, Kwara, Kano, and the Federal Capital Territory.
Adesina said the initiative would revolutionize Nigeria’s agricultural sector by enhancing food security, boosting domestic production, and creating thousands of jobs.
“The AfDB is investing massively in the development of Special Agro-industrial Processing Zones across Africa, enabled with infrastructure to support the establishment of industries to process and add value across a wide range of agricultural products.”
Adesina disclosed that AfDB has committed over $934 million towards the development of these zones.
“We have mobilised co-financing of $938 million from partners, including the International Fund for Agricultural Development, the Islamic Development Bank, Japan International Cooperation Agency, and the West African Development Bank.”
The AfDB launched the Alliance for Special Agro-Industrial Processing Zones with partners, with $3 billion in commitments to accelerate development across Africa.
Development of special agro-industrial processing zones is ongoing in 27 sites across 11 countries in Africa, according to the AfDB President.
