The National Economic Council has unveiled an initiative, announcing its intention to direct a substantial $1.52 billion in donor funds towards 36 Special Agro-Industrial Processing Zones nationwide.
This plan aims to generate 17.5 million jobs and provide support to 100,000 farmers across the country. The first phase, currently underway in Kano, Kaduna, Kwara, Ogun, Oyo, Imo, Cross River, and the Federal Capital Territory, is set to conclude by 2028 with an investment exceeding $520 million.
Additionally, 26 states have expressed interest in participating in Phase II, where a $1 billion funding injection from the AfDB and other partners is anticipated. Documentation for the second phase is slated to begin in early 2024.
