UNIDO presents plans for developing Nigeria’s staple crop processing zones
ABUJA, 9 May 2013 - At the request of Nigeria’s Federal Ministry of Agriculture and Rural Development (FMARD), the United Nations Industrial Development Organization (UNIDO) today presented investment opportunities in the staple crop processing zones in the country.
The presentation was made as part of a side event during the World Economic Forum – Africa which took place in Abuja. It was attended by foreign and domestic private sector investors, and development partners, including representatives of financial institutions, as well as Government officials from Nigeria and other countries.
In partnership with FMARD, UNIDO developed master plans for establishing staple crop processing zones in six geo-political regions of the country that will simultaneously address all supply-side constraints and improve Nigeria’s competitiveness in selected agro value chains.
The zones have already attracted investments totaling USD 350 million from different financial institutions. Among others, the World Bank has committed over USD 100 million dollars to develop sustainable institutions and infrastructure in the zones, while the African Development Bank has committed over USD 152 million to make available low interest loans to the Nigerian Government, specifically for the development of infrastructure in the staple crop processing zones.
The International Fund for Agricultural Development has also pledged USD 70 million to build capacity of small farmers to ensure inclusiveness and equitable wealth creation in the staple crop processing zones.
The staple crop processing zones are a flagship programme of Nigeria’s Agricultural Transformation Agenda and which has the objective of creating wealth and employment in the agribusiness sector.
For more information, please contact the UNIDO Office in Abuja