The Federal Executive Council (FEC) has approved the establishment of agricultural processing zones in each senatorial district across the country.This was disclosed by the Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo, while briefing State House correspondents at the end of the weekly FEC meeting in Abuja.
The minister said he briefed FEC on the activities of the ministry in the last 100 days.“We briefed Council on how far in implementing the priorities of government and basically we elaborated on one of the priorities given to our Ministry is the activation of the private sector led special economic zones.“That already is in progress, with regards to one issue that has been in the headlines lately, is the establishment of agricultural processing zones in each Senatorial District.
“The Ministry is already working on that. We have employed consultants who are now going round and looking at each of the Senatorial Districts, with a view to knowing what agricultural processing zone will be set up in each Senatorial zone,” he said.
The minister said government is working to ensure that it provides credit to investors through the Bank of Industry.Her said ten million medium and small-scale enterprises would benefit from the proposed credit scheme.
The minister said the country intends to raise $500 million from the African Development Bank for technological innovation in the country.