Nigeria Seeks AfDB Billions to Expand Agro-Industrial Zones at UNGA

New York, September 29, 2025 — Nigeria has renewed its call for stronger financial backing from the African Development Bank (AfDB) to transform its agricultural sector, with Vice President Kashim Shettima making a bold request during the 80th United Nations General Assembly (UNGA) in New York.

Speaking at a bilateral meeting with AfDB President, Dr. Sidi Ould Tah, Shettima pressed for expanded funding for the second phase of Nigeria’s Special Agro-Industrial Processing Zones (SAPZ), an initiative aimed at shifting the country from a mono-product economy to one driven by value-added agricultural exports.

SAPZ Phase II will scale the programme from its initial coverage of eight states and the Federal Capital Territory to an additional 24 states. The expansion will include climate-resilient infrastructure, agro-industrial hubs, irrigation systems, farm-to-market roads, and training for farmers and entrepreneurs. Shettima described the plan as a decisive step toward turning Nigeria into a global player in agricultural trade.

In a direct appeal, the Vice President reminded AfDB of Nigeria’s position as its largest shareholder with a portfolio of over $10 billion. “You assisted us with $300 million when you were in Liberia. We want to thank you, but like Oliver Twist, we are asking for more because we are poised to diversify our mono-product economy into agriculture, especially value-added agricultural export,” he said.

Shettima emphasized Nigeria’s natural and human resources, pointing out the vast agro-ecological diversity of the country and its young, entrepreneurial population. He also urged AfDB to broaden its focus beyond micro, small, and medium enterprises and include innovation-driven ventures, especially in the digital sector. Citing Nigeria’s success in technology, he reminded the bank that five of Africa’s eight unicorns originated from the country.

Dr. Tah responded positively, promising that AfDB would not only provide financing but also act as a catalyst by mobilizing global capital to Africa. He outlined the bank’s four strategic pillars: mobilizing large-scale partnerships, reforming Africa’s financial architecture, harnessing the continent’s demographic dividend, and industrializing Africa through value addition and resilient infrastructure.

Official AfDB documents show that SAPZ Phase II, listed as Project P-NG-AAG-011, will support the development of Agro-Industrial Hubs and Agricultural Transformation Centers, supply of certified inputs, extension services, and a new regulatory framework for agro zones. The approach is designed to connect production, processing, logistics, and skills development into a coherent value chain.

The Nigerian delegation also used the UNGA platform to push for broader development support. Environment Minister Balarabe Lawal appealed for AfDB’s backing of the Great Green Wall initiative, which targets desertification and land degradation. Housing Minister Ahmed Dangiwa sought AfDB’s intervention in addressing Nigeria’s housing deficit, underscoring the government’s view of the bank as a partner in multiple sectors of national development.

For ordinary Nigerians, the stakes are high. If successful, SAPZ Phase II could reduce post-harvest losses, create thousands of jobs, expand food security, and open international markets for Nigerian produce. Yet, the challenges remain significant. Scaling such infrastructure-intensive projects across 24 states will require coordination, transparency, environmental safeguards, and sustained private sector engagement.

Shettima’s “Oliver Twist” moment at the UNGA highlights both the urgency and ambition of Nigeria’s development strategy. For a nation long reliant on oil revenues, this shift toward agriculture and innovation represents more than just economic diversification—it is a bid to redefine Nigeria’s future on the global stage.