IsDB President Reiterates Firm Commitment to Support Nigeria’s Development Aspirations

Abuja, Nigeria, 24 October 2022 – Addressing an official ceremony under the patronage of H.E. President Muhammadu Buhari of the Federal Republic of Nigeria, for launching the Special Agro-Industrial Processing Zone (SAPZ) Program, Islamic Development Bank (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser, reiterated the firm commitment of the IsDB Group to supporting the country in achieving its development aspirations and implementing its future national development plans.

At the beginning of his speech, Dr. Al Jasser extended condolences to the People and Government of the Federal Republic of Nigeria for the great loss of lives in the recent flooding in the country. “The Islamic Development Bank Group stands with its member country Nigeria and will do its utmost to contribute to reversing the impacts of this unexpected and tragic natural disaster,” he stated.

He then explained that IsDB Group’s involvement in Nigeria has focused on various sectors especially agriculture which is the backbone of the economy in most IsDB member countries. Dr. Al Jasser further expressed thanks to the Government of Nigeria as well as 

other major development partners including the African Development Bank (AfDB) Group, and the UN’s International Fund for Agricultural Development (IFAD) that stood by the IsDB Group in making SAPZ a reality.

Implemented in seven states across Nigeria including, Cross River, Imo, Kaduna, Kano, Kwara, Ogun, and Oyo as well as the Federal Capital Territory supports inclusive and sustainable agro-industrial development. It mainly focuses on supporting the development of enabling climate-adapted infrastructure for Agro-Industrial Hubs and improving agricultural productivity and enterprise development to enhance agricultural value chains and job creation.

Dr. Al Jasser explained how the IsDB Group, in July 2022, approved a US$ 10.50 billion Food Security Response Program (FSRP) to assist its member countries to cope with a new emerging food crisis.