This announcement was made on Saturday during the launch of a soybean processing plant and refinery by Called Servant to Service (CSS) Global Integrated Farms in Gora, located in the Karu Local Government Area of Nasarawa State.
During the inauguration of the facility, which boasts a production capacity of 10,000 liters of soybean oil daily, Adesina highlighted the refinery as a significant advancement for Nigeria’s agricultural industry.
He emphasized that the refinery would play a crucial role in decreasing Nigeria’s reliance on imported crude soybean oil, which was projected to cost approximately $62.2 million in 2023.
Strengthening agricultural operations through SAPZ
Adesina further remarked that the effectiveness of the farm's operations would be significantly bolstered by the establishment of Special Agro-Industrial Processing Zones (SAPZ) across the nation.
He mentioned that the bank, in collaboration with its partners, is backing the Federal Government in executing a $538 million initiative aimed at developing SAPZ in seven states.
The states earmarked for the initial phase include Cross River, Imo, Oyo, Ogun, Kaduna, Kano, Kwara, and the Federal Capital Territory (FCT).
“The second phase of the programme would cover the remaining 28 states, with a financing target of one billion dollars from AfDB, the Arab Bank for African Economic Development, and the private sector,” Adesina further stated.
At the Africa Investment Forum (AIF) taking place from December 4 to December 6, 2024, in Rabat, Morocco, Adesina announced that the African Development Bank (AfDB) and its AIF partners successfully attracted $2.2 billion in investment interest aimed at developing Special Agro-Industrial Processing Zones (SAPZ) in Nigeria.
He also noted that Nasarawa would be part of the program's second phase, highlighting that the Called Servant to Service Farms would become a major anchor investor in the zone once it's up and running.
Dr. Adesina praised Called Servant to Service Farms for its contributions to boosting food production, encouraging agribusiness among Nigerian youth, and achieving the prestigious International Organization for Standardization (ISO) 9001 certification.