In what keen economic observers have described as a masterstroke measure, the N100 million grant by the Lagos State government, earmarked for tagged the Lagos Agrithon, will drive food production and boost the agriculture subsector of the economy.
The Lagos Agrithon initiative aims at providing agricultural entrepreneurs with a grant of N100 million, aimed at supporting micro, small, and medium enterprises (MSMEs) in agribusiness.
The funding is designed to promote innovation throughout the agriculture and food value chains.
Addressing a motley crowd during the recent Lagos Agrinnovation Summit 1.0, Governor Babajide Olusola Sanwo-Olu, represented by Deputy Governor Dr. Obafemi Hamzat, emphasised the government’s focus on fostering innovations that can address various challenges faced by farming and agri-food businesses, ultimately leading to enhanced production capacity and efficiency.
Hazmat in clear terms noted the government’s dedication to empowering young innovators to bolster the competitiveness, innovation, and resilience of the agriculture, agri-food, and agri-based products sectors.
While praising the State Ministry of Agriculture and Food System for establishing the Lagos Agrinnovation Club, he noted that the club had evolved into a community of young agripreneurs, serving as a centre of creativity and a platform for individuals willing to rethink the future of agriculture.
“Out of the Agrinnovation Club grew the Lagos Agrithon, a testament to the power of innovation and opportunity. This has created a platform where young entrepreneurs from across Nigeria pitched their groundbreaking ideas for the future of food. This year’s Agrithon saw 316 business case entries from dynamic startups, championed by young people who are driven by their visions to transform agriculture, and build sustainable solutions”, he said.
“The 26 finalists we honour today have not only made it through a rigorous selection process but have also shown us that the future of food in Lagos is bright. With access to mentorship, networks, and a share of the ₦100 million Agrinnovation fund, these entrepreneurs will have the resources to take their enterprise solutions further. This is a symbol of what we can achieve when we trust our youths to lead and support them in doing so”.
He emphasised that the partnership among the Ministry of Agriculture and Food Systems, the Lagos State Employment Trust Fund (LSETF), and the Eko Innovation Centre (EIC) will facilitate the monitoring and evaluation of the activities of 26 entrepreneurs over the next nine months to assess the growth of their businesses.
He encouraged the Agrithon finalists to utilise the funding effectively, showcasing their remarkable and innovative concepts.
He remarked, “We are eager to witness how you will transform your visions into tangible outcomes and foster significant change within our agricultural sector”.
The Commissioner for Agriculture and Food Systems, Ms Abisola Olusanya, said 26 agriculture-focused startups presented their business expansion plans to compete for a share of a N100 million grant aimed at supporting MSMEs in agribusiness to thrive.
She noted that 20 out of the 26 startups that presented their pitches would be selected to receive specialized grants.
Ms. Olusanya reiterated the significant impact of the agri-food sector in providing innovative and high-quality food to Nigerians, highlighting that these innovators will contribute to keeping the industry at the forefront, securing essential resources, and identifying new market opportunities for their products.
The Special Assistant to the Governor on Agriculture and Food Systems, Olurotimi Fashola, expressed his heartfelt thanks to Governor Babajide Olusola Sanwo-Olu for his steadfast commitment to revolutionizing the agricultural landscape of Lagos. This, he noted, had set a new standard for food systems in Nigeria and indeed Africa.
He added, “Through this Lagos Agricultural and Food Systems Roadmap, Mr. Governor has laid a strong foundation upon which initiatives like the Lagos Agrinnovation Club and Lagos Agrithon have flourished, empowering young people and igniting a spirit of innovation in agriculture. I also want to express my sincere appreciation to the Honourable Commissioner for Agriculture and Food Systems for her leadership and dedication. Today’s gathering and all that we have achieved within the agricultural sector under her stewardship are a testament to her tireless efforts to realize our shared vision”.
On the summit, he pointed out that it is just the beginning of a continuous journey toward achieving a Lagos that not only feeds itself but also contributes to feeding the nation, creating jobs, and empowering young people.
His words: “As we leave here today, let us carry forward the knowledge, connections, and inspiration we have gained. Let us build on the momentum created here and work together to turn these innovative ideas into practical, sustainable solutions for our communities”.
