The Lagos State government has projected that total investments in the agricultural sector in the State would run to $10billion in the next five years, with the formal launch of its five-year Agricultural and Food Systems Roadmap.
Governor of the state, Mr Babajide Sanwo-Olu said most of the investments would be private sector-driven, while the government acts as catalyst and enabler.
He noted that Lagos could no longer afford to rely exclusively on other States for its food, adding that it was time to unlock its immeasurable agricultural potential through the implementation of the five-year roadmap.
Governor Sanwo-Olu opined that the Roadmap would also lead to wealth generation, value creation, food security, the industrialisation 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: growth of the upstream sector, growth of the midstream and downstream sectors as well as improvement of private sector participation.
His words: “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.
“Lastly, we will improve on private sector participation by developing and initiating policies that will encourage more private investments in agriculture.
“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.
“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.”
He assured that the state would formulate policies to encourage private sector investment in agriculture, while providing robust market information systems for Agricultural Value Chain actors to adequately plan and circumvent risks and uncertainties.
Sanwo-Olu listed some landmark investments that the State has begun and would help with the smooth delivery of the Roadmap, such as the Lagos State Aquatic Centre of Excellence that would boost fish production from 20 per cent to 80 per cent; the Imota Rice Mill; the Lagos Food Production Centre Avia, Igborosu-Badagry as well as other statewide agriculture-focused initiatives.