AfDB Mobilizes N3.4trn for Nigeria’s Agro-Industrial Development

The African Development Bank (AfDB), alongside its partners, has secured $2.2 billion (approximately N3.4 trillion) to advance special agro-industrial processing zones in Nigeria. This was announced by Dr. Akinwumi Adesina, the outgoing AfDB President, during a presentation at the 2025 Standard Chartered Bank Africa Summit in Lagos. 

According to a copy of the presentation obtained by the News Agency of Nigeria (NAN), the funds will support the second phase of these zones, spanning 24 states.

He recalled that the bank and its partners had supported the launch of the special agro-industrial processing zones in the first eight States – Ogun, Oyo, Cross Rivers, Imo, Kaduna, Kwara, Kano and the Federal Capital Territory-.

Adesina, a former Minister of Agriculture and Food Security, said the initiative would revolutionise Nigeria’s agricultural sector by enhancing food security, boosting domestic production and creating thousands of employment.

According to him, investments are needed to unlock the agricultural potential in Nigeria and Africa in general, especially for value addition to agricultural commodities.

To achieve that, he emphasised the need for the development of industrial platforms that would allow the continent to move up the agricultural value chains.

“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.

“The bank has committed over 934 million dollar towards the development of the special agro-industrial processing zones.

“We have mobilised co-financing of 938 million dollar from partners, including the International Fund for Agricultural Development, the Islamic Development Bank, Japan International Cooperation Agency, and the West African Development Bank.

“We have also launched together with partners, the Alliance for Special Agro-Industrial Processing Zones to accelerate the development of these zones across Africa, with 3 billion dollar in commitments,’’ he said..

The AfDB President also disclosed that development of the special agro-industrial processing zones is ongoing in 27 sites across 11 countries in Africa. 

NAN