LCCI, LASG urge FG to prioritise investment decisions in agribusiness value chain

The Lagos Chamber of Commerce and Industry (LCCI) and the Ministry of Agriculture, Lagos State have urged the federal government to prioritise investment decisions into the country’s agribusiness value chain for better improvement in food security, technology.

They expressed their commitment towards the development of the nation’s agribusiness value chain.

Speaking at the 2021 LCCI Secondary School essay competition themed, “The role of agribusiness in food security and national development,” the Commissioner for Agriculture Lagos State, Mrs Abisola Olusanya charged youths to participate and involve in the agribusiness value chain, adding that this would create wealth and enhance better living standards of the economy.

She noted that it would bring about better improvement in food security, technology and stimulate youth participation in agricultural production to promote sufficiency in the food supply.

She averred that the world is currently facing multiple problems of food scarcity, global warming, low pricing of crude oil and volatility of the exchange rate while stressing that Nigeria is not left out of this global crisis considering her position in crude oil exportation.

“While the agricultural sector plays a strategic role in improving food availability, the youths have the potentials to catalyse agricultural development and subsequently nation development by their collective efforts.”

She noted that the potentials of agriculture are embedded in different sectors, adding that the participation of the youths across the value chain will actualise the Nigeria of our dreams.

The President, Lagos Chamber of Commerce and Industry, (LCCI), Mrs Toki Mabogunje, said the agribusiness sector is pivotal to harnessing the potentials for economic development.

Mabogunje, who was represented by Vice President of LCCI, Mr Olusegun Osunkeye, said the agribusiness is the business sector that encompasses farming-related commercial activities in the agricultural value-chain adding that the sector plays a major role in developing the economy with sustainable economic growth.

According to her, agribusiness is a tool of sustainability and optimisation of processes adding that the sector supports transformational business growth as well as contributing to economic growth.

While addressing the role of agribusiness in food security and national development, the LCCI’s president mentioned that reports from Food and Agriculture Organisation (FAO) affirmed that agribusiness is a key driver of sustainable economic growth while hinting that over 70 per cent of the world’s food needs are met by small farmers such that agriculture alone employs 26.5 per cent of the world’s workforce.

“Agribusiness sector employs the most people in the world while stating that it is the main source of food and income for many people living in poverty, therefore it is essential to many countries economic and national development.”