The Lagos State Governor, Mr Babajide Sanwo-Olu, has projected that the agricultural sector within the state might generate as a lot as $10 billion inside the subsequent 5 years.
That is because the governor famous that Lagos might now not afford to rely solely on different states for its meals, including that it was time to unlock its immeasurable agricultural potential by way of the implementation of the 5-year roadmap.
This disclosure was made by the Governor on the formal launch of the state’s 5-year Agricultural and Meals Programs Roadmap, on Thursday, including that many of the investments could be non-public sector-driven whereas the federal government acts because the catalyst and enabler.
Governor Sanwo-Olu opined that the Roadmap would additionally result in wealth technology, worth creation, meals safety, the industrialisation of the agricultural sector and the entrenchment of inclusive socio-economic growth of the state.
He mentioned that the roadmap basically focuses on 3 pillars, that are: development of the upstream sector, development of the midstream and downstream sectors in addition to enchancment of personal sector participation.
What the Lagos State Governor is saying
Sanwo-Olu, in his phrases, mentioned, “Our methods for sustainable Agricultural Growth shall deal with three pillars. First, we’ll develop the upstream sector by way of interventions by leveraging applied sciences which might be able to reducing the price of manufacturing of worth chains; Concentrate on rising the midstream and downstream sectors which might be of worth and lastly, we’ll enhance on non-public sector participation by creating and initiating insurance policies that can encourage extra non-public investments in agriculture.”
The projection is that the whole funding within the Agricultural Sector from the federal government, non-public sector, donor companies and growth companions will run into over $10 billion within the subsequent 5 years. Whereas we anticipate many of the funding to be non-public sector-driven, the federal government will proceed to supply the wanted infrastructure whereas the non-public sector will probably be inspired to steer the important thing tasks.’’
The governor identified that the state had already began the revamping of its Agricultural Land Holding Authority (ALHA) to help funding in agriculture, giving assurance that the coconut belt would even be strengthened with elevated non-public sector involvement.
Sanwo-Olu listed some State’s landmark investments that can help easy supply of the Roadmap to incorporate the Lagos State Aquatic Centre of Excellence (LACE) that might enhance fish manufacturing from 20% to 80%, the Imota Rice Mill, the Lagos Meals Manufacturing Centre Avia, Igborosu-Badagry in addition to different statewide agriculture-focused initiatives.
He mentioned, “I’m significantly inspired by the curiosity already generated within the 5-Yr Agricultural Roadmap and I hope will probably be sustained and backed with concrete motion on the a part of our growth companions and the worldwide group. I guarantee you that the Lagos State Authorities is putting in deliberate incentives to make your funding protected, safe and worthwhile.’’
Sanwo-Olu, subsequently, urged potential and established stakeholders within the agricultural sector to accomplice with the state with a purpose to rework the agricultural sector for meals safety, wealth technology, poverty eradication, financial diversification, speedy industrialisation and accelerated socio-economic development.
It is a very laudable initiative from the Lagos State Authorities particularly at a time the nation is diversifying its economic system. The profitable implementation of this programme with the anticipated advantages from the worth chain will contribute considerably to the financial growth of the state and the nation basically.
The funding within the transformation of agriculture to agribusiness is a technique of reaching the dream of accomplishing self-sufficiency in meals manufacturing and creating extra wealth.