Post by Trade Coach on Nov 3, 2021 17:20:04 GMT 1
Oyo State of Nigeria and Seven Others to Benefit from AfDB’s Agricultural Scheme
The African Development Bank (AfDB) said that it has mobilized $520 million for a programme to boost farmers’ productivity in eight states of the Federation, the states include Oyo; and this will ensure massive development in Nigeria.
This was disclosed by the AfDB president, Mr Akinwumi Adesina at the recent Oyo Agribusiness Summit 2021 held at the International Institute for Tropical Agriculture, Ibadan, Oyo, State capital.
The AfDB president, who was represented at the occasion by the Bank’s Director of Agriculture, Martins Fregene, said, “The best fertilizer for any crop is the market.
If you want farmers to invest in inputs, and you want farmers to increase their productivity, you need to make sure that they have market to sell when they harvest their crops.
He added, “I am pleased to announce that in Nigeria, the AfDB has mobilized $520 million for the first phase of SAPC programme (Smallholder Agricultural Productivity Enhancement and Commercialization Project).
“Oyo state is one of the eight states participating in the first phase of the programme. The Ijaye Agro processing Industrial Hub in Oyo state will cluster farmers and service providers for industrial scale processing of cassava, rice and soybeans.”
The Director General of IITA, Dr Nteranya Sanginga, said that Nigeria could create millions of jobs for the youth through investment in agriculture.
He lamented that Nigeria spends $11 billion annually on food importation, thereby developing the economy of other nations. Nigeria imports most of its rice from Thailand.
Also, the Director General of Oyo State Agribusiness Development Agency, Dr Debo Akande, said that Oyo state has 2.2 million hectares of arable land and working to capture the Lagos market with a population of 21 million people.
In the same vein, the AfDB president said the bank is targeting to create 25 million new jobs by 2025.
He said this when he delivered a speech on “Social media, National security, and Social change: Bridging the gap for development in Africa” in Lagos.
According to the bank, Adesina underscored the enormous potential that Nigeria has for attracting global commerce and financial services.
The AfDB president added that the bank is investing heavily in quality infrastructure to transform the backbone of Africa’s technological revolution.
“To support Nigeria, the AfDB is preparing investments in the country’s Digital and Creative Enterprises (i-DICE), a 500 million dollars investment programme to be co-financed by several partners.
“i-DICE will promote entrepreneurship and innovation in the Digital Technology and Creative places. It will help create sustainable jobs and make Nigeria a global powerhouse in these industries.
“This programme will boost innovation, especially in the tech-enabled business and ecommerce space, where new and successful ventures are being inaugurated in Nigeria.” He said.
Also, the Director-General of African Development Bank’s (AfDB) Nigeria country Department, Lamin Barrow, stated that the bank offered the $520 million as part of its support for the development of the first phase of the special Agro-industrial Processing Zones in Nigeria.
Barrow disclosed that the zones would be rolled out in other 18 African countries, including Nigeria.
The first phase of the programme in Nigeria will be implemented in phases across the six geopolitical zones of the country, Barrow said.
The statement said representatives of AfDB, the International Fund Agricultural Development and the Islamic Development Bank provided progress updates on the scheme, following their consultation with key stakeholders within the public and private sectors.
According to the Nigerian Minister of Finance, Budget, and National Planning, Zainab Ahmed, all the 36 states of the Federation and Abuja will be eligible to participate in the programme.
She disclosed that 20 states and the FCT had already indicated their interest in participating in the first phase of the scheme.
The AfDB’s Vice President for Agriculture and Human and Social Development, Beth Dunford, said “In the same manner that SAPZs have worked in other countries, it will create jobs, develop skills, and facilitate agricultural value chains development in Nigeria”.
The following states have indicated their interest to participate:
Lagos
Kaduna
Kano
Kwara
Imo
Cross River
Ogun
Oyo
Bauchi
Niger
Jigawa
Ekiti
Taraba
FCT
Benue
Sokoto
Ondo
Nasarawa
Gombe
Kogi
Stay with us for more updates. Our members should endeavor to participate in all these programmes being rolled out by the Federal Government; please don’t sit down and be complaining. Join them to benefit from all the innovative programmes; they are for human beings and citizens of Nigeria.
The African Development Bank (AfDB) said that it has mobilized $520 million for a programme to boost farmers’ productivity in eight states of the Federation, the states include Oyo; and this will ensure massive development in Nigeria.
This was disclosed by the AfDB president, Mr Akinwumi Adesina at the recent Oyo Agribusiness Summit 2021 held at the International Institute for Tropical Agriculture, Ibadan, Oyo, State capital.
The AfDB president, who was represented at the occasion by the Bank’s Director of Agriculture, Martins Fregene, said, “The best fertilizer for any crop is the market.
If you want farmers to invest in inputs, and you want farmers to increase their productivity, you need to make sure that they have market to sell when they harvest their crops.
He added, “I am pleased to announce that in Nigeria, the AfDB has mobilized $520 million for the first phase of SAPC programme (Smallholder Agricultural Productivity Enhancement and Commercialization Project).
“Oyo state is one of the eight states participating in the first phase of the programme. The Ijaye Agro processing Industrial Hub in Oyo state will cluster farmers and service providers for industrial scale processing of cassava, rice and soybeans.”
The Director General of IITA, Dr Nteranya Sanginga, said that Nigeria could create millions of jobs for the youth through investment in agriculture.
He lamented that Nigeria spends $11 billion annually on food importation, thereby developing the economy of other nations. Nigeria imports most of its rice from Thailand.
Also, the Director General of Oyo State Agribusiness Development Agency, Dr Debo Akande, said that Oyo state has 2.2 million hectares of arable land and working to capture the Lagos market with a population of 21 million people.
In the same vein, the AfDB president said the bank is targeting to create 25 million new jobs by 2025.
He said this when he delivered a speech on “Social media, National security, and Social change: Bridging the gap for development in Africa” in Lagos.
According to the bank, Adesina underscored the enormous potential that Nigeria has for attracting global commerce and financial services.
The AfDB president added that the bank is investing heavily in quality infrastructure to transform the backbone of Africa’s technological revolution.
“To support Nigeria, the AfDB is preparing investments in the country’s Digital and Creative Enterprises (i-DICE), a 500 million dollars investment programme to be co-financed by several partners.
“i-DICE will promote entrepreneurship and innovation in the Digital Technology and Creative places. It will help create sustainable jobs and make Nigeria a global powerhouse in these industries.
“This programme will boost innovation, especially in the tech-enabled business and ecommerce space, where new and successful ventures are being inaugurated in Nigeria.” He said.
Also, the Director-General of African Development Bank’s (AfDB) Nigeria country Department, Lamin Barrow, stated that the bank offered the $520 million as part of its support for the development of the first phase of the special Agro-industrial Processing Zones in Nigeria.
Barrow disclosed that the zones would be rolled out in other 18 African countries, including Nigeria.
The first phase of the programme in Nigeria will be implemented in phases across the six geopolitical zones of the country, Barrow said.
The statement said representatives of AfDB, the International Fund Agricultural Development and the Islamic Development Bank provided progress updates on the scheme, following their consultation with key stakeholders within the public and private sectors.
According to the Nigerian Minister of Finance, Budget, and National Planning, Zainab Ahmed, all the 36 states of the Federation and Abuja will be eligible to participate in the programme.
She disclosed that 20 states and the FCT had already indicated their interest in participating in the first phase of the scheme.
The AfDB’s Vice President for Agriculture and Human and Social Development, Beth Dunford, said “In the same manner that SAPZs have worked in other countries, it will create jobs, develop skills, and facilitate agricultural value chains development in Nigeria”.
The following states have indicated their interest to participate:
Lagos
Kaduna
Kano
Kwara
Imo
Cross River
Ogun
Oyo
Bauchi
Niger
Jigawa
Ekiti
Taraba
FCT
Benue
Sokoto
Ondo
Nasarawa
Gombe
Kogi
Stay with us for more updates. Our members should endeavor to participate in all these programmes being rolled out by the Federal Government; please don’t sit down and be complaining. Join them to benefit from all the innovative programmes; they are for human beings and citizens of Nigeria.