Gov asks investors to explore Lagos aquaculture
GOVERNOR Babajide Sanwo-olu has urged investors to explore the potential of the state aquaculture and its value chain for the growth of the economy.
he noted that the agric sector had great potential and could help to unleash opportunities for entrepreneurship.
Sanwo-olu spoke on Sunday at the 2019 Lagos Seafood Festival.
The governor, who was represented at the event by the Deputy Governor, Dr Obafemi hamzat, noted that the agricultural value chains when explored could lead to the attainment of the state’s food security objective and contribute to the growth of the state’s GDP.
“We have established fish farm estates in lkorodu and Epe, which primary aim is to ensure a geometrical increase in fish production, with the active participation of the private sector. While the 1korodu
Estate is fully subscribed and produces 10,000 tons of fish per annum, the Ketu Ereyun Epe Estate will produce 11,000 metric tons on completion of its first phase.
“All of these initiatives are aimed at bridging the demand and supply gap which is estimated at 374,000 tonnes per annum and 155,262 tonnes per annum, respectively. This is a huge and highly rewarding investment opportunity which I invite the business community to tap into and harness,” he said.
According to Sanwo-olu, the state is endowed with a natural landscape traversed by sea and lagoon waters, as well as beautiful beaches and waterfronts, adding that 22 per cent of the state’s total land area is covered with water and 180km coastline along the Atlantic Ocean.
The state Commissioner for Agriculture, Gbolahan Lawal, said the entertainment industry was expected to generate a revenue of $88m for the state with positive impact on the economy.