• June 19, 2021

Lagos State, Partners To Raise $10bn Investment In Agric Sector

(AGENDAWATCHDOG) – There are plans by the  Lagos State Government and its partners to raise $10 billion investment in the agriculture sector in the next five years, according to Governor Sanwo-Olu, who said that the effect of COVID-19 pandemic on food security necessitated the action.

Lagos State is revamping the Agricultural Land Holding Authority (ALHA) to drive investment into agriculture. The state is strengthening the coconut belt with increased private sector involvement.

Lagos is the smallest state in Nigeria in terms of land size, and relies on massive food importation and mutual collaboration on production with other states to ensure food sustenance for its 22 million population; a trend it is committed to checking.

READ ALSO: Lagos Reiterates Commitment To The Transformation Of Its Transportation Sector

The efforts expended by statisticians, agriculture experts, investment bankers and practitioners in producing a strategic document for the state’s agric sector are meant to help chart the way forward to a food sufficient Lagos.

PROJECTED IMPACT: Agriculture currently generates below 2% of the state’s Gross Domestic Product (GDP), necessitating the establishment of an Agricultural and Food Systems Roadmap, which would drive in more investments and create wealth.

Agenda Watchdog

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