Gov asks in­vestors to ex­plore La­gos aqua­cul­ture

The Punch - - PHOTO NEWS - Sam­son Fo­larin

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.

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