AfDB President emphasised that Obudu Cattle Ranch alone could turn the state into a huge livestock producer.

The President of the African Development Bank (AfDB), Dr Akinwumi Adesina has reiterated the bank's pledge to mobilise $2.2billion to execute the Special Agro-Industrial Processing Zone (SAPZ) project in 28 states across Nigeria.

Adesina, a former Nigeria Minister of Agriculture stated this on Thursday in Calabar, Cross River State during groundbreaking ceremony for the construction of the project in the state.

According to a statement by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, Office of The Vice President, Adesina observed that Cross River State has a significant role to play in Nigeria's agricultural transformation because of the vast production of cocoa, cassava, rice and banana in the state.

AfDB President emphasised that Obudu Cattle Ranch alone could turn the state into a huge livestock producer.

He also acknowledged that the state is ideal for SAPZ, adding that it has an export processing zone, ports facility, and export handling capabilities. 

The former Federal Minister explained the SAPZ in Calabar can easily be linked to the seaport for the transportation of processed agricultural commodities to the export market in neighbouring countries, including Cameroon and the rest.

"The African Development Bank, as you know, is spearheading this together with our partners, which include the Islamic Development Bank and the International Fund for Agricultural Development, and we have put together $934 million from the African Development Bank, with core financing of $938 million from these partners," Adesina was quoted to have said.

"The first phase of SAPZ in Nigeria will be in eight states of Cross River, Kaduna, Kano, Katsina, Oyo, Ogun, Kwara, Imo and the Federal Capital Territory. We are delighted with our partnership with the Islamic Development Bank and the International Fund for Agricultural Development.

"We have put together a financing package of $510 million to make this work. We expect, in the second phase of this, to mobilise $2.2 billion to be able to work for 28 states across the federation with several partners," the AfDB President said.

Meanwhile, the Vice President, Kashim Shettima, performing the groundbreaking for the construction of the SAPZ in Calabar, which is the second with the first being constructed in Kaduna State, explained that it was part of a nationwide drive to transform the agricultural sector and stimulate inclusive economic growth across Nigeria.

“There is no intervention more practical in our dream of a nation where the potential of agriculture is maximised than what’s brought us together today. This isn’t just a project—it’s a bold vision to transform Nigeria’s agricultural value chain,” VP Shettima said as quoted by the statement.

According to him, the SAPZ initiative, supported with counterpart funding from development partners and the private sector, is designed to address challenges that have long hindered the growth of Nigeria’s agricultural economy, including inadequate processing infrastructure, limited access to markets, and rural unemployment.

“For far too long, our farmers have contended with poor infrastructure, lack of access to finance, and inadequate processing facilities. This zone is designed to confront those challenges head-on by creating an ecosystem where innovation, investment, and collaboration thrive,” he noted.

VP Shettima explained that the Calabar SAPZ will serve as a hub for agro-processing and storage, providing farmers and agripreneurs with critical infrastructure to scale their operations and tap into local and international markets.

“This is where farmers will meet with private investors, where ideas will turn into enterprise, and where our youth will find meaningful opportunities,” he said,  disclosing that the Tinubu administration has classified SAPZ as a priority program in Nigeria's quest for food security, with plans to institutionalize it as a government agency that will facilitate agricultural industrialization across all 36 states.

"These zones will generate thousands of jobs. They will create opportunities for young people, empower them with skills and knowledge to engage in meaningful work and help them contribute positively to the economy. Cross Riverians, development has come to your doorstep. For you and for the country, SAPZ is a game changer—one that will enable Nigeria to diversify its economy with a sustainable source," he stated.