The African Development Bank (AfDB) has granted the Kogi State government $100 million loan to finance some Special Agro – Industrial Processing Zones (SAPZ) projects in the state.
The state Commissioner for Finance and Budget Planning, Mr Asiru Idris, disclosed this in Lokoja, while declaring open a stakeholders meeting on environmental and social impact assessment of the proposed SAPZ and associated developments.
He said that the state was happy to be a beneficiary of the project which, he said, has the potential to bridge the existing gap between production and need, employment, transportation and power supply.
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The Commissioner added that the project will be a boost to improving production and employment in the state for 2 million people and also open the state up for private investments, citing that 280 hectares of land would be acquired in 5 local government for the scheme
“The project will create employment for two million people in the state and by extension, curb poverty, reduce youth restiveness and open doors for private investors,” he said.
He also added that the scheme would be beneficial for both farmers and processors which will also be an advantage for distributors in the state as transport costs will also be reduced.
