Lagos launches 5-year agriculture plan to generate $10bn by 2025

Lagos launches 5-year agriculture plan to generate $10bn by 2025
28 April 2021

Published 23 Apr,2021 via BizWatchNigeria - The Lagos State Government disclosed that investment in the state’s agriculture sector is projected to amount to $10 billion over the next five years.

This was stated by the Governor of Lagos State, Babajide Sanwo-Olu, at the launch of the five-year Agricultural and Food Systems Roadmap.

He noted that a huge chunk of the investment into the sector would be driven by players in the private sector.

Sanwo-Olu said explained that the roadmap was necessary, as the state was veering off its path of dependence on other states for food.

He stated that the time had come for Lagos to tap into its agricultural potentials, which is envisaged to be achieved through the food systems roadmap.

The governor listed three pillars that the programme is anchored on, and they include the growth of the upstream sector via leverage on technologies, growth of the midstream and downstream sectors, and the doubling down of participation of the private sector.

He said, “Our strategies for sustainable Agricultural Development shall focus on three pillars. First, we will grow the upstream sector through interventions by leveraging technologies that are capable of lowering the cost of production of value chains; Focus on growing the midstream and downstream sectors that are of value and lastly, we will improve on private sector participation by developing and initiating policies that will encourage more private investments in agriculture.

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