Commissioner for Agriculture, Abisola Olusanya, says the Lagos agricultural sector generated over N1.2 billion as revenue in 2022 despite the global food challenges.
Ms Olusanya, who also said the ministry surpassed its N1 billion generated in 2021, disclosed this at the 2022 Lagos Food Festival on Sunday.
“In 2021, we generated roughly a little over N1 billion. This year is tougher, obviously, due to the election process and what have you. There was a glut in the system overall, obviously due to the challenges related to the war between Russia and Ukraine and a lot of instability economy-wise,” stated the commissioner.
Ms Olusanya added, “This actually impacted a lot of our food processors and producers here. Generally, the economy has not been friendly to anybody this year, but regardless, the ministry still did all it could, and at least we are hoping to end the year on a N1.2 billion note.”
The commissioner noted that the agriculture ministry could generate billions of dollars in revenue if well-harnessed with new ideas, innovations and projects.
“For me, what I’m really happy about in 2021 is making N1 billion for the very first time in the existence of the ministry since 1967. It is not a fluke that this ministry is indeed a billion-naira industry. It is actually a billion-dollar industry,” Ms Olusanya explained.
She pointed out that “we repeated it even under most strenuous circumstances, meaning if everything is to be so good, we should be crossing over N5 billion in revenues annually.”
But the commissioner hoped that in 2023, “we should be crossing the threshold of N3 billion. But this year, we are sure of making N1.25 billion.”
Meanwhile, Governor Babajide Sanwo-Olu joined other African chefs in the 2022 food festival to prepare pepper soup to the delight of residents who thronged out en masse to have fun at the park.
(NAN)
