Lagos State to Raise $2bn for Agriculture, Food Security

Lagos correct

The Lagos State Government is set to raise $2 billion by floating Agricultural Commodities Notes in partnership with the Lagos Commodities and Futures Exchange (LCFE), in a strategic move to revolutionize agriculture, especially, food production and guarantee food security.

Speaking at the meeting, Lagos State Commissioner for Agriculture, Abisola Olusanya, explained that the state had determined to end food scarcity by transforming Agriculture through capital injection.

According to her, a large expanse of land had been developed to create central logistics as hubs in the key locations of the state.

To catalyze its five-year Agricultural Road map, Lagos State is prepared to raise $2 billion from private sector participation in partnership with the LCFE by floating Commodity Notes.

The state has a strong capacity to raise medium and long-term funds to execute developmental projects.

Sources - Thisdaylive