The Lagos State government, in collaboration with the Federal Ministry of Industry, Trade & Investment, has inaugurated the Lagos operation office of the Nigeria Agribusiness and Agro-Industry Development Initiative (NAADI). This initiative, spanning two days from January 29 to 30, 2024, aims to stimulate investments in the agricultural sector and meets the requirements for the domestication of NAADI at the state level.
Folashade Ambrose-Medebem, Commissioner for Commerce, Cooperative, Trade & Investment, highlighted the significance of NAADI’s presence in Lagos, aligning with the state’s commitment to economic diversification and sustainable development. The initiative, part of Governor Babajide Sanwo-Olu’s T.H.E.M.E.S Development Agenda, aims to make Lagos a 21st-century economy.
Acknowledging Lagos’ role in fostering agribusiness growth through infrastructure investments, policy reforms, and capacity building, Ambrose-Medebem emphasized NAADI’s potential to diversify the state’s productive base, reduce import dependence, stimulate job creation, promote exports, and enhance agribusiness profitability.
Nura Rimi, Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, expressed confidence in NAADI’s successful implementation in Lagos. The initiative aims to stimulate equity investment flows, diversify the agro-industrial base, reduce import dependency, support SMEs, and increase exports of value-added goods. The Lagos office will coordinate stakeholder activities, provide leadership, and mobilize key players for the program’s success.
The launch event also included training for MSME operators on export procedures and documentation by the Nigeria Export Promotion Council (NEPC), quality assurance requirements by the Standard Organisation of Nigeria (SON), funding windows for export by NEXIM Bank, and preparing bankable business proposals by the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN). This comprehensive initiative signifies a strategic step towards boosting agribusiness investments in Lagos State.
