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AfDB okays $210m for Nigeria’s agro-industrial processing zones

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PRESIDENT of African Development Bank (AfDB), Akinwunmi Adesina, has said the bank will loan $210 million to Nigeria for special agro-industrial processing zones across the country.

  The loan, approved by the bank’s Board of Directors, will help to unlock the country’s agricultural sector and impact the lives of millions of people in Africa’s most populous country.

  Adesina, who disclosed this in a statement, said the loan would also assist in promoting industrialisation in the country through strategic development of crops and livestock

  He said the credit facility would co-finance Phase 1 of the Nigeria Special Agro-Industrial Processing Zone Programme, noting that the Phase 1 of the project would target seven Nigerian states and the country’s Federal Capital Territory.

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