The Lagos State Commissioner for Agriculture, Ms Abisola Olusanya, has disclosed that the state generates over N1.2b as revenue in 2022 in the agricultural sector in spite of global food challenges.
Olusanya, who also said that the ministry surpassed its one billion naira generated in 2021, made this known at the 2022 Lagos Food Festival in Lagos on Sunday.
She said that the revenue was generated even under most strenuous circumstances affecting food production.
”In 2021, we generated roughly a little over one billion naira; this year is tougher obviously due to election process and what have you.
“There was a glut in the system overall; obviously due to the challenges related to war between Russia and Ukraine and a lot of instability economy wise.
“This actually impacted on 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,” she said.
The commissioner noted that the ministry of agriculture could generate billions of dollars in revenue if well harnessed.
She said that with new ideas, new innovations and project, the revenue should be more in years to come.
“For me, what Im really happy about in 2021 is doing 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.
”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.
“We are hoping in 2023, we should be crossing the threshold of N3billion. But this year, we are sure of making N1.25 billion,” she added.
