Lagos State Governor Babajide Sanwo-Olu has urged greater access to financing for agriculture, highlighting how Nigeria forfeits substantial economic gains by shipping out unprocessed commodities rather than value-added products.
Addressing the First Bank 2025 Agric and Export Expo at Eko Hotels and Suites in Victoria Island, Lagos, on Tuesday, Sanwo-Olu pointed out that while crop yields have risen, the country’s agricultural exports fall short due to insufficient processing and limited funding for farmers.
The expo, themed “The Fundamentals of Building an Export-Driven Economy,” gathered policymakers, investors, producers, and business leaders to discuss ways to broaden Nigeria’s economy via agriculture and non-oil sectors.
Sanwo-Olu emphasized the need to reduce reliance on crude oil amid volatile prices, currency strains, and rising import expenses, pushing for a focus on productive industries.
“We frequently send out raw materials instead of ready-to-sell items, missing the benefits of processing, packaging, and branding that create jobs and revenue,” he stated.
He highlighted Lagos’ ongoing investments in roads, ports, and online trade systems, but stressed that these require supportive financing to help farmers and businesses achieve international quality and volume standards.
“The world market isn’t pausing for us. Other African nations are actively promoting their farm goods. We need deliberate, calculated efforts to expand non-oil exports,” he added.
Sanwo-Olu praised the federal government’s initiatives under President Bola Ahmed Tinubu for boosting farm production, yet insisted more value lies in exporting processed items.
“As Nigeria’s main entry to global trade, Lagos bears the duty to enhance agribusiness and export strength,” he said.
Niger State Governor Umar Bago, also at the event, supported this view, arguing that countries exporting only raw items get undervalued in international deals.
“By adding value, we control pricing, not the purchasers,” Bago said.
He outlined plans to halt live cattle transport from Niger to Lagos and Ogun, shifting to meat processing for frozen deliveries to cut losses and boost farmer income.
“We’ll end live cow shipments at Mokwa, processing in Niger and supplying only frozen meat,” he explained.
Bago further revealed an expansion of land for collaborative farming with Lagos, from 20,000 to 100,000 hectares, to ramp up output and address food needs.
