Islamic Development Bank Commits $55.5m To Abuja Agro-Processing Zones.

The Islamic Development Bank (IsDB) has committed about $55.5m towards the development of Special Agro-Processing Zones (SAPZ) in the territory.

The Mandate Secretary, Agriculture and Rural Development Secretariat in the FCT, Mallam Abubakar Ibrahim disclosed this at a media briefing on the activities of the secretariat.

The FCTA is expected to provide the framework for the take-off of the AfDB and IsDB supported Special Agro-Industrial Processing Zones projects in which the FCT will be developing the livestock sub-sector.

Read:  Growth gains momentum

The project is to unlock the country’s agriculture sector potential and promote industrialisation through the development of strategic crops and livestock.

“I am happy to note that the Boards of the AfDB, IFAD and the ISDB, have all approved the Nigeria SAPZ Project on the 13th, 16th and 18th December, 2021, respectively. In the first phase, the ISDB is investing a minimum of $55.47m in the FCT SAPZ. We are committed to making this a resounding success and shall provide the needed counterpart contribution to complement this investment”, he said.

The FCT Administration has also stated it is keying into the programme of the Ministry of Agriculture and Rural Development by engaging the Agro-Rangers squad of the Nigeria Security and Civil Defence Corps (NSCDC) in providing security for farmers in the territory against threats posed by bandits fleeing into its fringes from contiguous states.

Read:  African-born UFC champions the stars of a new era of fighters from continent

The Director Agric-Services, Mrs Francisca Ihekandu said the engagement will take care of security challenges in the FCT in the agro sector.

Related posts

Sterling Bank grows net profit by 20% in 2021


e-Naira: Unveiling new features


CBN extends ‘Naira 4 dollar scheme’ indefinitely


Dangote Cement, Sugar win brands of decade


MTN insists on 3.5GHz spectrum auction participation


Berger paints appoints Adetomiwa acting managing director


Leave a Comment