…Lagos gov advocates for Agric financing at First Bank Expo
…Niger tate earmarks 100,000 hectares for food production partnership
BENJAMIN OMOIKE
LAGOS, Nigeria – Lagos State Governor, Babajide Sanwo-Olu, has called for increased access to agricultural financing, warning that Nigeria is losing significant economic value by exporting raw commodities instead of processed goods.
Speaking at the First Bank 2025 Agric and Export Expo held at Eko Hotels and Suites, Victoria Island, Lagos, on Tuesday, Sanwo-Olu said that despite improvements in crop production, Nigeria’s agricultural exports remain underwhelming due to the lack of value addition and weak financing structures for farmers.
Themed “The Fundamentals of Building an Export-Driven Economy”, the event brought together key stakeholders — including policymakers, investors, producers, and entrepreneurs — to strategize on diversifying Nigeria’s economy through agriculture and non-oil exports.
Governor Sanwo-Olu underscored the urgency of moving beyond crude oil dependency, noting that global economic realities — from fluctuating oil prices to forex pressures and high import costs — demand a shift towards a productivity-driven economy.
“Too often, we export raw commodities rather than finished products, thereby losing out on the real wealth and jobs that come from processing, packaging, and branding,” Sanwo-Olu said.
He noted that while Lagos continues to invest in infrastructure — such as roads, ports, and digital trade platforms — these investments must be complemented by accessible financing that empowers farmers and agribusinesses to meet global standards in both quantity and quality.
“The global marketplace is not waiting for Nigeria. Other African countries are aggressively positioning their agricultural products to secure market share. We must be intentional, strategic, and relentless in pursuing non-oil export growth,” he added.
The Governor acknowledged federal efforts under President Bola Ahmed Tinubu’s administration, which he said had increased agricultural output. However, he stressed that greater value could be realized if Nigerian exports were processed into finished goods before reaching international markets.
“Lagos is the nation’s gateway to the global economy,” he said. “Most exports pass through our ports, placing a responsibility on us to support agribusiness and export competitiveness.”
Also speaking at the forum, Niger State Governor Umar Bago echoed Sanwo-Olu’s sentiments, stressing that nations exporting only raw materials are routinely shortchanged in global trade.
“If we add value to our produce, we will dictate the prices — not the buyers,” Bago asserted.
He revealed plans to phase out the shipment of live cattle from Niger State to Lagos and Ogun States, stating that his administration would instead invest in meat processing to supply frozen products, thereby reducing waste and increasing earnings for local farmers.
“We’re terminating the movement of live cows at Mokwa. We’ll process meat in Niger and bring in only frozen products,” he said.
Bago also announced an increase in the land area allocated to Lagos for joint agricultural projects, raising it from 20,000 to 100,000 hectares, in a bid to scale up production and meet growing food demands.
