Nigerian States To Receive African Development Bank (AfDB) $540 million

🟢 Agro-Industrial Processing Zones SAPZs documentation is incomplete in the remaining states.

The African Development Bank (AfDB) said it has concluded plans to disburse $540 million to the three states in Nigeria.

Vice President Kashim Shettima on Monday, following briefing by representatives of the AfDB and that of the United Nations Industrial Development Organization (UNIDO) on the status of projects being executed in Nigeria said it is time to put actions to achieve the set goals.

According to VP Shetima, “We have passed the age of talking. We have to walk the talk.  We can talk from now till eternity and it does not mean anything if there is no action and hence we must make this work. We just must”

“I read a book on how Korea transformed itself with no natural resources, how they started producing steel against all odds, how they went into shipbuilding and how Hyundai, Daewoo, Samsung, Kia came about. I believe that when there is a will there is always a way.

One of the projects was the Special Agro-Industrial Processing Zones (SAPZs) in Oyo, Cross River and Kaduna states.

The African Development Bank (AfDB) said it has concluded plans to disburse $540 million to the three states, in phase one of the project.

Other states in the programme will get their funds as soon as they are through with documentation, AFDB officials said.

-Princely Onyenwe reporting

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