African Development Bank to provide $540 million to Nigeria

All is set for the African Development Bank (AfDB) to commence the disbursement of $540 million to the first phase of states in Nigeria for the development of Special Agro-Industrial Processing Zones (SAPZs).

This was just as Vice President Kashim Shettima, called for immediate action, urging the government and its development partners to walk the talk.

As part of moves by the Nigerian government and the bank to ensure food security in the country, three states are to benefit from phase one of the development of processing zones, which includes Oyo, Kaduna and Cross River, while others are to get theirs as soon as they are through with documentation.

Senior Special Adviser on Industrialisation to the AfDB President, Prof. Banji Oyelaran-Oyeyinka, disclosed this on Monday, when a delegation of the bank and that of the United Nations Industrial Development Organisation (UNIDO) presented their separate reports on the status of projects being executed in Nigeria to Shettima at the State House, Abuja.

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