The Lagos Chamber and Industry has said that poor infrastructure and lack of investments have engendered low profitability of the country’s agribusiness.
The Chairman of LCCI Agriculture and Agro-Allied Group, Kola Aderibigbe, stated this on Wednesday at the LCCI Agro-Fair and Symposium, which was held in Lagos.
According to Aderibigbe, agribusiness in the country has been affected by numerous disruptions, ranging from insecurity to several other factors.
He added that those disruptions need to be urgently attended to by all tiers of government.
He said, “It is, therefore, pertinent that we change the narratives of agribusiness, noting that it is one of the highest employers of labour, notwithstanding its current low profitability, due to poor infrastructure and investment in agriculture.”
On her part, the Permanent Secretary in the Lagos State Ministry of Agriculture, Ibironke Emokpae, said food security was also a strategic necessity for national development.
“As we deliberate on the critical intersection of food security and our nation’s development, we must recognise the profound implications that this theme holds to our society, our economy and our future,” she remarked.
In his welcome remarks, LCCI President, Michael Olawale-Cole, said the importance of food security cannot be overstated.
He added that the country’s ability to provide ample food for our citizens had a direct impact on its overall development, stability, and progress.
He said, “The resilience and determination of our farmers, and entrepreneurs have resulted in noteworthy advancements.”