Food security: Lagos targets price reduction in agro products

The Lagos State Government is hopeful that food prices will drop soon due to a major distribution of farm inputs. Around 10,000 farmers received supplies in Agege, including items for fishing, poultry, and vegetables, expected to lower food costs.
The initiative, part of the COVID-19 Action Recovery scheme and supported by the Federal and State Governments and the World Bank, also involves selling produce at a discount at the Sunday Market.
Key inputs distributed include fish juveniles, poultry feed, day-old chicks, fertilizer, vegetable seeds, fishing nets, canoes, agrochemicals, and water tanks. Local farmers reported improvements in their operations and praised the support.
Source: Vanguard

Our Review
The Lagos State Government’s recent distribution of agricultural inputs to around 10,000 farmers is poised to significantly impact the local agribusiness sector. By providing essential resources across various farming sectors, including fishing, poultry, and vegetable cultivation, this initiative aims to boost production and lower food prices. The inputs, part of the COVID-19 Action Recovery scheme, are expected to enhance productivity and make food more affordable as the increased supply meets market demand.
This effort, in collaboration with the Federal Government, World Bank, and Lagos CARES, underscores a strategic approach to addressing food security and supporting farmers. By facilitating discounted sales at the Sunday Market, the initiative also encourages market participation and consumer savings.
For agribusiness professionals, this program highlights the importance of government support in stabilizing food prices and promoting sustainable growth. It presents an opportunity to leverage increased production and lower input costs to drive further investment and innovation within the sector. The program’s transparency and inclusiveness also set a precedent for future agricultural interventions.