JUST IN: Lagos State Commissioner for Agriculture has Disclosed That The Ministry Generated Over N1.2bn as Revenue in 2022

JUST IN: Lagos State Commissioner for Agriculture has Disclosed That The Ministry Generated Over N1.2bn as Revenue in 2022

Lagos State Commissioner for Agriculture, Abisola Olusanya, has disclosed that the ministry generated over N1.2bn as revenue in 2022, surpassing its 2021 N1bn revenue despite the global food challenges.

She disclosed this while speaking at the 2022 Lagos Food Festival yesterday in Lagos.

She announced that the ministry hopes to generate N3bn in the year 2023.

In her words, In 2021, we generated roughly a little over one billion naira: this year is tougher obviously due to the election process and what have you.

There was a glut in the system overall, obviously due to the challenges related to the war between Russia and Ukraine and a lot of instability economy-wise.

This actually impacted a lot of our food processors and producers here.

“Generally, the economy has not been friendly to anybody this year but regardless, the ministry still did all it could and at least we are hoping to end the year on an N1.2 billion note.”

She added, For me, what I’m really happy about in 2021 is doing N1 billion for the very first time in the existence of the ministry since 1967.

It is not a fluke that this ministry is indeed a billion-naira industry, it is actually a billion-dollar industry.

We repeated it even under the most strenuous circumstances, meaning if everything is to be so good, we should be crossing over N5 billion in revenues annually.

We are hoping in 2023, we should be crossing the threshold of N3 billion.

But this year, we are sure of making N1.25 billion, she added.

Leave a Comment