The African Development Bank (AfDB), Islamic Development Bank (IsDB), and the International Fund for Agricultural Development (IFAD) have decided to provide an additional $1 billion for the development of eight special agro-industrial processing zones in Nigeria, four months after approving $520 million for the project.
The fund is to be disbursed to special agro-industrial processing zones (SAPZs) in 24 states in Nigeria, and a move to pump such huge funds into Nigeria’s agribusiness was part of the resolve to develop SAPZs in 13 countries.
