Agriculture viable sector to boost revenue – Ambode

Agriculture viable sector to boost revenue – Ambode

Lagos State Governor, Mr. Akinwunmi Ambode, on Thursday said the agribusiness sector remains one of the most viable areas that the Federal as well as State Governments must begin to pay serious attention to boost its revenue generation in the wake of dwindling oil prices.
Ambode, who spoke at the 4^th European Union-Nigeria Business Forum 2015 holding at the Eko Hotels and Suites, said the harsh times in the oil sector and its attendant impact on government revenue makes it imperative to look inward for creative ways of growing the economy of the country and boosting gross domestic product.
To this end, he said the agricultural sector serves as a ready alternative source of revenue generation, not only to government but also to individuals and private organisations through the various Agro-allied value chains.
He commended the organisers for the theme of this year’s forum, “Unlocking Opportunities for Diversification,” saying it was apt as it would afford participants focus on addressing the obstacles to the effective development of the agricultural value chain.
“The EU’s relationship with Nigeria is significant not only because Europe remains the top destination for Nigeria’s oil and non-oil exports, but also because the region accounts for nearly one-third of Nigeria’s total trade. The statistics speak for themselves,” he said.
Governor Ambode said the state government on its part recognises the importance of the agricultural sector in wealth and job creation as well as in growing the economy of the state and has thus made the sector one of its cardinal programmes.
He gave assurance that the his administration would continue to build on the policies put in place by the previous administration to enhance rapid development in the sector, adding that so far, the government had energised the Agriculture Land Holding Authority, to make more land readily available for Agricultural development.

Ambode also urged prospective investors to take advantage of the wetland environment as well as a 1,500 hectares reserve of tropical hard woods to invest in water hyacinth recycling, fisheries and fish farm estate, arable crop estates, rice processing mill, livestock resources, forestry, agricultural equipment and human capacity development in Agriculture.