Nigeria has kicked off a major stride toward economic diversification as Vice President Kashim Shettima inaugurated the Special Agro-Industrial Processing Zone (SAPZ) in Cross River State.
Backed by the AfDB, Islamic Development Bank, and IFAD, the SAPZ aims to boost food security, create jobs, and energize rural economies. The first phase spans eight states, with plans to expand to 28 and attract $2.2 billion in investments.
“This project aligns with President Tinubu’s Renewed Hope Agenda. It’s about transforming lives and building a resilient economy,” Shettima said in Calabar.
Read also:
- Premier movie of MAKEMATION, an AI movie for the youth
- SEC, SMEDAN collaborate to boost small business access to capital markets
- SMEDAN, Kwara governor discuss joint strategy to support MSMEs nationwide
- Oratib Insurance Consulting marks 15 years of trusted service in insurance advisory
- Senegal calls on ECOWAS to boost foreign investment drive
Set on 130 hectares, the Cross River SAPZ will leverage nearby ports, power plants, and transport links. Governor Bassey Otu called it the “engine room” of the state’s prosperity agenda, pledging full support for its rollout.
AfDB President Akinwumi Adesina described the initiative as a long-awaited leap, saying, “We’re investing in Nigeria’s ability to feed itself and the world.”
The zone will drive value chains in rice, cassava, cocoa, oil palm, and more—integrating farmers into export-ready supply networks.
Discover more from SMALL BUSINESS INSIGHTS
Subscribe to get the latest posts to your email.
