Lagos State Governor Babajide Sanwo-Olu has projected that investments in the agriculture sector will run to $10billion in the next five years, with the launch of the state’s five-year Agricultural and Food Systems Roadmap.
He, however, said most of the investments would be private sector-driven, while the government would act as the catalyst and enabler.
The governor said the state could no longer afford to rely on other states for its food, adding that it was time for Lagos to unlock its agricultural potential through the implementation of the five-year roadmap.
He said the roadmap would lead to wealth generation, value creation, food security, industrialisation of the agricultural sector and entrenchment of inclusive socio-economic development of the state.
Sanwo-Olu said the roadmap focused on three pillars- growth of the upstream sector, growth of the midstream and downstream sectors as well as improvement of the private sector participation.
He said the state would formulate policies that would encourage private sector investment in agriculture, while providing robust market information systems for Agricultural Value Chain actors for planning and the circumvention of risks and uncertainties.
Commissioner for Agriculture Ms. Abisola Olusanya said the roadmap was a brain child of the Agricultural Stakeholders’ Summit held at the inception of the current administration where issues of importance relating to agriculture and food security were discussed.
She said private sector partnership and involvement would drive the roadmap to fruition, adding that investment in the transformation of agriculture to agribusiness was one way of achieving the dream of attaining self-sufficiency in food production.
Finance Commissioner Dr. Rabiu Olowo said agriculture currently generates less than two per cent of the state’s GDP, stressing that the establishment of an Agricultural and Food Systems Roadmap, which will drive in more investments and create wealth, is a welcome idea.
He urged stakeholders in the agriculture sector to work together to ensure the success of the roadmap.