The Federal Government and the African Development Bank (AfDB) are set to perform the groundbreaking ceremony for the Oyo State Special Agro-Industrial Processing Zone (SAPZ).
The AfDB made this known in a statement yesterday in Abuja.
The bank said that the 29 km project would be held at the SAPZ Phase 1 site in Atan, Ijaiye, Akinyele Local Government Area of Oyo State on Aug. 2.
It said the project, supported by the state government and other international development partners, marked a significant milestone in Nigeria’s agricultural transformation and industrialisation drive.
It said that top government officials, the AfDB president, Dr Akinwumi Adesina, alongside other stakeholders would lead the ceremony.
He listed the other stakeholders as representatives of the Islamic Development Bank (IsDB), International Fund for Agricultural Development (IFAD) and Africa Grow Together Fund.9
The Oyo SAPZ is the third zone being inaugurated under Phase I of the programme, following earlier groundbreakings in Kaduna and Cross River states in April.
It extends the SAPZ initiative into Nigeria’s southwest region, reinforcing the national commitment to revitalising rural economies through agro-industrial development.
According to the statement, the project is strategically sited on 300 hectares of land near the Lagos-Ibadan Railway Line.
“The Oyo SAPZ is designed to unlock key value chains in cassava, maize, poultry, and horticulture.
“It is expected to boost food security, generate employment and attract agribusiness investments by leveraging efficient transport and market access.
“The SAPZ programme represents AfDB’s largest agriculture-focused investment in Africa and a flagship of its Feed Africa High 5 agenda,” it said.
It said that the total financing for the programme stood at 538 million dollars, and it is co-funded by AfDB and its partners, including IsDB, IFAD and the Africa Grow Together Fund.
“The project demonstrates Nigeria’s strategic push towards agro-industrialisation by harnessing public-private partnerships to modernise agriculture and create shared prosperity across the value chain.
“The upcoming event also highlights AfDB’s longstanding development partnership with Nigeria.
“This spans over five decades and includes nearly 11 billion dollars in cumulative commitments, with agriculture being a central pillar of its support,” it said.