Lagos urges investors to invest in water hyacinth recycling

Governor of Lagos State Akinwunmi Ambode has urged prospective investors to take advantage of the wetland environment as well as a 1,500 hectares reserve of tropical hard woods to invest in water hyacinth recycling.

The governor, speaking yesterday at the fourth European Union-Nigeria Business forum at the Eko Hotels and Suites, also called on the business community to invest in fisheries and fish farm estates, arable crop estates, rice processing, livestock resources, forestry, agricultural equipment and human capacity development in agriculture.

Ambode said the agribusiness sector remained one of the most viable areas the federal and state governments must pay serious attention to boost its revenue generation in the wake of dwindling oil prices.

He said the harsh times in the oil sector and its attendant impact on government revenue made it imperative to look inward for creative ways of growing the economy of the country and boosting gross domestic product (GDP), as the agricultural sector served as a ready alternative source of revenue generation not only to government but also to individuals and private organisations.

He lauded the organisers for the theme of the forum, “unlocking opportunities for diversification,” saying it was apt as it would afford participants to focus on addressing the obstacles to the effective development of the agricultural value chain.

“The EU’s relationship with Nigeria is significant, not only because Europe remains the top destination for Nigeria’s oil and non-oil exports, but also because the region accounts for nearly one-third of Nigeria’s total trade. The statistics speak for themselves”, he said.

The governor said the state government on its part recognises the importance of the Agricultural sector in wealth and job creation as well as in growing the economy of the State and has thus made the sector one of its cardinal programmes.