Gov Sanwo-Olu Makes Case for Agric Financing at First Bank’s Expo

… Says Niger State Crops Out 100,000 Hectares for Lagos to Raise Food Production

Nigeria’s agricultural produce is ripe for global competitiveness, but lack of access to finance for local farmers remains the major obstacle preventing crops from making it to international supermarkets.

This was the position of Lagos State Governor Babajide Sanwo-Olu at the First Bank 2025 Agric and Export Expo held at Eko Hotels and Suites, Victoria Island, on Tuesday.

Sanwo-Olu said that despite Nigeria’s improving crop production, the nation’s share of agricultural exports in the global market remained far below its potential. He noted that the continued export of raw commodities instead of finished products made the country lose out on wealth creation, job opportunities, and branding advantages.

Themed “The Fundamentals of Building an Export-Driven Economy,” the event brought together policymakers, investors, producers, and entrepreneurs to chart a course for diversifying Nigeria’s economy through agriculture and exports.

Governor Umar Bago of Niger State also joined his Lagos counterpart at the forum.

Sanwo-Olu stressed that agriculture offered Nigeria an immense opportunity to grow its GDP, citing abundant arable land and a resilient youth population. He said this made it imperative to fully harness agrarian resources, reduce dependence on oil, and build a productive, export-driven economy.

“Too often, we export raw commodities rather than finished products, thereby losing out on the real wealth and jobs that come from processing, packaging, and branding. Global marketplace is not waiting for Nigeria; other African countries are aggressively positioning their agricultural products. For Nigeria to take its rightful place, financing institutions like First Bank must enhance access to capital for farmers to meet global standards in demand and quality,” Sanwo-Olu said.

The Lagos Governor highlighted President Bola Tinubu’s renewed efforts to increase non-oil exports, pointing to recent gains in agricultural output. However, he emphasised that Lagos — being the country’s primary export hub — must create enabling conditions for agribusiness and value addition.

Governor Bago, on his part, warned that any nation that exports only raw products would always be shortchanged in value. He said Niger State would henceforth invest more in processing livestock and crops into finished goods.

“We are considering stopping the supply of live cows to Lagos and Ogun. Instead, we will process the meat in Niger and deliver frozen beef to your markets. This is how our farmers can benefit fully from cattle rearing,” Bago said.

He further announced that Niger State was increasing its agricultural land allocation for Lagos from 20,000 hectares to 100,000 hectares to boost production and meet growing food demand.