Lagos Consumes Over N5trn Worth Of Food Annually, Says Commissioner

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    Sanwo-olu

    Lagos as the largest market in Sub-Saharan Africa, with a population of 22 million, consumed over N8billion worth of food every month.

    This translates to about N5trillion consumption every year, according to the state’s Commissioner for Agriculture, Ms. Abisola Olusanya.

    She spoke at the weekend while seeking collaboration and investment with private sector in the Red Meat Value Chain, Artisanal Fisheries and Livestock Feed Mills., in line with the State Government’s five-year strategic agriculture roadmap.

    She noted that the State Government has identified many areas of investment opportunities for the private sector participants particularly in the three value chains hence the need for collaboration.

    According to her, this partnership would increase production in the value chains, stimulate jobs across the value chains, standardize operations in the value chains as well as enhance the GDP of the State.

    “In line with the State’s five-year strategic agriculture roadmap where it has identified many areas of investment opportunities for the private sector participants, Lagos State is set to explore private sector collaboration in its agriculture sector particularly the Red Meat Value Chain, Artisanal Fisheries, as well as Livestock Feed Mills for possible partnerships with private investors and entrepreneurs with the objective is to stimulate and encourage more public-private partnerships in the three value chains.

    “We are the largest market Sub-Saharan Africa has. With over 22million in terms of population, we consume food well worth over N5tn annually and over N8bn on a monthly basis. When you consider this pool of transaction happening in Lagos, it shows that we are the market.

    “What this also means is that we need to organize our market which is the only way we can derive value. How do we do this? It is by understanding the law of demand and supply. If as the largest market, we can enumerate properly that this is what we need for the State and this is what the transactional value should be, then we can begin to derive value and draw employment; we can begin to draw revenues and even enforcement into a proper structure such that we begin to have a better and greater Lagos.

    “What the administration of Mr. Babajide Sanwo-Olu is focused on is in terms of enforcing a market structure or bringing together a market structure that ensures a transformation in the food system, an Expression of Interest advertisement would be rolled out from next week calling on interested investors,” she said.

    According to her, in the red meat sector, the State consumes over 6,000 herds of cattle daily and over 1.8 million herds of cattle annually which is 50 percent of the red meat consumed in Nigeria as a whole, adding that there exists a lot of opportunities to be tapped into in the red meat sector.

    Olusanya pointed out that possible areas of collaboration in the red meat value chain are animal identification and traceability, establishment of feedlot and fattening centers, creation of a better logistics solution system as well as the creation of a better system of running abattoirs in a standard way to meet up with global best practices such that more hygienic slaughtering areas are the norms rather than the exceptions.

    Other areas of possible collaboration, according to her include setting up of standardized meat shops; proper management of animal waste, biogas production and transportation of the meat to the final consumers in wholesome and hygienic way and condition.

    The Commissioner described the transactional value for cattle alone in Lagos to be worth over N328bn, adding that when the red meat transformation agenda comes fully into play, it would help the State Government eliminate logistics costs of transporting cattle.

    Olusanya further stated that the state was working on harnessing sectors where it has comparative advantage to further grow its economy with emphasis on the artisanal fisheries sector.

     

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