In a bold move to revolutionize Nigeria’s Agricultural Sector, the Federal Government has convened a high-level dialogue at the African Development Bank (AfDB) Country Office, Abuja to accelerate the implementation of the Special Agro-industrial Processing Zones (SAPZ-1) Programme.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, disclosed that this strategic initiative aims to transform agriculture into a key driver of economic growth and industrialization.
He informed that the SAPZ-1 High-Level Implementation Acceleration Dialogue and States Steering/Technical Committee Workshop, brought together key stakeholders from state governments, the private sector, and development partners to address implementation challenges and drive progress in the nation’s agricultural transformation.
The Minister highlighted the strategic role of the SAPZ-1 programme in transforming Nigeria’s agricultural sector into a key driver of economic growth and industrialisation, emphasising the importance of collaboration between the federal government and the private sector in achieving increased domestic production, job creation, and poverty alleviation.
HM Edun noted that the private sector is crucial for achieving the President’s vision of industrialization and sustainable economic growth.
The SAPZ-1 programme is a strategic investment initiative aimed at industrialising Nigeria’s Agricultural Sector and fostering inclusive growth across the country. Its first phase is being implemented in seven states and the Federal Capital Territory, with the support of international development financiers such as the AfDB, Islamic Development Bank (IsDB), and the International Fund for Agricultural Development (IFAD), he said
The Coordinating Minister of the Economy underscored the urgency of the programme, emphasizing further on the need for a successful wet and dry season harvest to address inflation, stabilize the exchange rate, and lay the groundwork for future investment.
Our immediate priority is ensuring that food production meets the needs of Nigerians while setting the stage for long-term economic growth. This is pivotal not only for inflation control but also for strengthening the nation’s overall economic stability, the Minister added
He observed the need for temporary importation to fill gaps in the short term, stressing that it should not disrupt ongoing efforts in domestic farming and food processing. Instead, he said these efforts are intended to ensure food availability while positioning Nigeria for export opportunities in the near future.
The success of this programme will directly impact inflation, interest rates, and the overall investment climate, making it a critical component of our broader economic strategy
Edun explained
The workshop brought together prominent figures and top government officials, including Sen. Abubakar Kyari, the Honourable Minister of Agriculture and Food Security; Dr. Armstrong Takang, CEO of the Ministry of Finance Incorporated (MOFI); Dr. Abdul Kamara, Director General of the Nigeria Country Department at the AfDB; and other representatives from partner institutions such as IFAD and IsDB.
Discussions focused on overcoming bottlenecks and ensuring that all stakeholders align their efforts to meet the ambitious goals of the SAPZ-1 programme, which aims to modernize Nigeria’s agricultural sector and drive economic growth.
With the SAPZ-1 programme, Nigeria is poised to unlock its agricultural potential, drive economic growth, and ensure food security for its citizens.
The success of this initiative will have far-reaching implications for the nation’s economic stability and prosperity.
Signed
Mohammed Manga FCIA
Director, Information and Public Relations
October 9, 2024
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