The federal government and the African Development Bank are set to perform the groundbreaking ceremony for the Oyo State Special Agro-Industrial Processing Zone.

The AfDB announced this in a statement on Thursday.

The bank said that the 29km project would be held at the SAPZ Phase 1 site in Atan, Ijaiye, Akinyele LGA of Oyo State, on August 2.

It stated that the project, supported by the state government and other international development partners, marked a significant milestone in Nigeria’s agricultural transformation and industrialisation drive.

It stated that top government officials and AfDB president Akinwumi Adesina, alongside other stakeholders, would lead the ceremony.

He listed the other stakeholders as representatives of the Islamic Development Bank, International Fund for Agricultural Development, and Africa Grow Together Fund.

The Oyo SAPZ is the third zone being inaugurated under Phase I of the programme, following earlier groundbreakings in Kaduna and Cross River states in April.

It extends the SAPZ initiative into Nigeria’s south-west region, reinforcing the national commitment to revitalising rural economies through agro-industrial development.

According to the statement, the project is strategically sited on 300 hectares of land near the Lagos-Ibadan Railway Line.

“The Oyo SAPZ is designed to unlock key value chains in cassava, maize, poultry, and horticulture. It is expected to boost food security, generate employment, and attract agribusiness investments by leveraging efficient transport and market access.

“The SAPZ programme represents AfDB’s largest agriculture-focused investment in Africa and a flagship of its Feed Africa High 5 agenda,” it said.

It stated that the total financing for the programme amounted to $538 million, which is co-funded by the AfDB and its partners, including the IsDB, IFAD, and the Africa Grow Together Fund.

“The project demonstrates Nigeria’s strategic push towards agro-industrialisation by harnessing public-private partnerships to modernise agriculture and create shared prosperity across the value chain.

“The upcoming event also highlights AfDB’s longstanding development partnership with Nigeria. This spans over five decades and includes nearly $11 billion in cumulative commitments, with agriculture being a central pillar of its support,” it said.

(NAN)