Lagos State Governor, Babajide Sanwo-Olu, has projected that the total investments in the agricultural sector in the State would run to $10B in the next five years with the formal launch of its five-year Agricultural and Food Systems Roadmap.
Disclosing this during the launch of the Roadmap, the governor added that most of the investments would be private sector-driven while the government acts as the 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 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”.