The Lagos State Governor, Mr Babajide Sanwo-Olu, has projected that the agricultural sector within the state may generate as a lot as $10 billion inside the subsequent 5 years.
That is because the governor famous that Lagos may now not afford to rely solely on different states for its meals, including that it was time to unlock its immeasurable agricultural potential by 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 Techniques Roadmap, on Thursday, including that a lot of the investments can be personal 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 stated that the roadmap primarily focuses on 3 pillars, that are: progress of the upstream sector, progress 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, stated, “Our methods for sustainable Agricultural Growth shall deal with three pillars. First, we’ll develop the upstream sector by interventions by leveraging applied sciences which might be able to decreasing the price of manufacturing of worth chains; Deal with rising the midstream and downstream sectors which might be of worth and lastly, we’ll enhance on personal sector participation by creating and initiating insurance policies that can encourage extra personal investments in agriculture.”
The projection is that the entire funding within the Agricultural Sector from the federal government, personal sector, donor businesses and growth companions will run into over $10 billion within the subsequent 5 years. Whereas we count on a lot of the funding to be personal sector-driven, the federal government will proceed to supply the wanted infrastructure whereas the personal sector will likely be inspired to steer the important thing initiatives.’’
The governor identified that the state had already began the revamping of its Agricultural Land Holding Authority (ALHA) to assist funding in agriculture, giving assurance that the coconut belt would even be strengthened with elevated personal sector involvement.
Sanwo-Olu listed some State’s landmark investments that can assist clean supply of the Roadmap to incorporate the Lagos State Aquatic Centre of Excellence (LACE) that will increase 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 stated, “I’m drastically inspired by the curiosity already generated within the 5-Yr Agricultural Roadmap and I hope it will likely be sustained and backed with concrete motion on the a part of our growth companions and the worldwide neighborhood. I guarantee you that the Lagos State Authorities is putting in deliberate incentives to make your funding protected, safe and worthwhile.’’
Sanwo-Olu, due to this fact, urged potential and established stakeholders within the agricultural sector to companion with the state in an effort to rework the agricultural sector for meals safety, wealth technology, poverty eradication, financial diversification, speedy industrialisation and accelerated socio-economic progress.
This can be a very laudable initiative from the Lagos State Authorities particularly at a time the nation is diversifying its financial 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 method of reaching the dream of accomplishing self-sufficiency in meals manufacturing and creating extra wealth.