PARIS OLYMPIC GAMES
Vice-President Kashim Shettima said it was time to ‘walk the talk’ as the Africa Development Bank (AfDB) is set to disburse $540 million in Nigeria for the development of Special Agro-Industrial Processing Zones (SAPZs) to ensure food security in the country.
Shettima called for immediate action, urging the government and its development partners to “walk the talk.”.
As part of moves by the Nigerian government and the bank to ensure food security in the country, three states are to benefit from phase one of the development of processing zones, which includes Oyo, Kaduna, and Cross River, while others are to get theirs as soon as they are through with documentation.
He said: “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, and Kia came about.
“I believe that when there is a will, there is always a way. We have to walk the talk.”
The Senior Special Adviser on Industrialization to the AfDB President, Prof. Banji Oyelaran-Oyeyinka, said the primary objective is to support inclusive and sustainable agro-industrial development in Nigeria.
A statement by the spokesman for the vice president, Stanley Nkwocha, said while making AfDB’s presentation to the vice president, Oyelaran-Oyeyinka said: “The Special Agro-Industrial Processing Zones (SAPZ) is an initiative of the African Development Bank that is aimed at turning the rural landscape into economic zones of prosperity and harnessing the power of commercial agriculture and food.
“The primary objective is to support inclusive and sustainable agro-industrial development in Nigeria. The phase one of the project is at the point of disbursement.
“Kaduna, Oyo, and Cross River States are all in the process of receiving disbursements, and we hope the other states can speed up with their documentation so that we can fast-track these states.
“We raised $540,000,000 in catalytic funding, and we expect every state to find a partner that will bring equity and join up with them. It is a government-enabled project but private-sector-driven.”
He explained that the first phase of SAPZs is being implemented in seven states, namely Cross River, Imo, Kaduna, Kano, Kwara, Ogun, and Oyo, as well as the Federal Capital Territory (FCT).
“Ogun State found a partner for the project and decided not to take the loan. We are basically going to distribute the loan to the other states.
“The next thing is preparation for phase two with 27 states. The demand is enormous, but we have to prioritise those who move fast.
“We have set up eligibility criteria for the states and to rank them. We expect them to have a feasibility report, an environmental impact study, and a commitment to counterpart funding,” Oyelaran-Oyeyinka added.
Leave a comment