• Thursday, February 29, 2024
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Lagos targets increased agric revenue in 2023

Lagos targets increased agric revenue in 2023

The Lagos state ministry of Agriculture is targeting to surpass the N1.2 billion it generated into the coffer of the state government last year to about N3 billion in 2023.

Abisola Olusanya, commissioner for Agriculture in the state dropped this hint while speaking at the continuation of the Agricultural Value Chains Enterprise Support Programme held at the Surulere Local Government.

“For revenue generation in 2022 the ministry of agriculture has recorded N1.2 billion and I remember that in the food festival, I said that it is hopeful that in 2023 we should be touching at least N3 billion in terms of revenue,” she said.

“The enterprise activation support programme that has been done is supporting processors and producers and marketers,” she noted.

“The hope is for them to be able to increase food production, to be able to add more value to the food thereby making more margins for processors and marketers to have easy access in selling to consumers,” she added.

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According to her, when all the actors across the various value chains register under the state’s internal revenue service (LIRS), more revenue will be generated by the sector.

“The stakeholders here today, not all of them will necessarily pay in terms of revenue generation to the Ministry of Agriculture to Lagos State, some will go directly to LIRS, so you have direct and indirect revenue.

“The most important thing and what is at the forefront of the Babajide Sanwo-Olu’s administration is wealth creation for the people, job creation for the people, and creating an enabling environment that ensures that our food system is secure.”

“Towards revenue generation, we have another pool of stakeholders, this is where we have agric assets; whether being concessioned or you have a private sector partner doing the build, operate and transfer or just build, operate and you have a revenue sharing formula with the Government.”

Sulaiman Yusuf, chairman of Surulere Local Government Area, who was represented by Prince Muiz Dosunmu, vice chairman, appreciated the governor for fulfilling his promise to lift people out of poverty, while also ensuring that Lagosians have enough food.