Lagos Investment In Agriculture Will Hit $10bn By 2025, Says Sanwo-Olu

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Lagos State governor, Mr. Babajide Sanwo-Olu, has said the state’s investments in the agriculture sector would run to $10 billion in the next five years.

The governor who disclosed this at the formal launch of the state’s five-year Agricultural and Food Security Roadmap added that most of the investments would be private sector-driven while the government would act as the catalyst and enabler.

He said the state could no longer afford to rely exclusively on other states for its food, adding that it was time for Lagos to unlock its immeasurable agricultural potential through the implementation of the five years roadmap.

Sanwo-Olu explained that the roadmap would also lead to wealth generation, value creation, food security, industrialization of the agricultural sector and the entrenchment of inclusive socio-economic development of the state.

According to him, the Roadmap essentially focuses on three pillars which are the growth of the upstream sector, growth of the midstream and downstream sectors as well as improvement of the private sector participation.

“Our strategies for sustainable Agricultural Development shall focus on three pillars. Firstly, we will grow the upstream sector through interventions by leveraging technologies that are capable of lowering the cost of production of value chains such as Fisheries, Poultry, Piggery, Rice, Vegetables and Coconut with support from donor agencies.

“The projection is that the total investment in the Agricultural Sector from the government, private sector, donor agencies and development partners will run into over $10 billion in the next five years. While we expect most of the investment to be private sector-driven, the government will continue to provide the needed infrastructure while the private sector will be encouraged to lead the key projects,” Sanwo-Olu noted.

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