News in brief:
- The Lagos State Government has disbursed over â¦16 million as compensation to land-owning families to kickstart the 35-hectare Lagos Aquaculture Centre of Excellence (LACE) project.
– Funded by a Public-Private Partnership with Dula Agro Services Limited, it is expected to generate employment and enhance the aquaculture value chain in alignment with the government’s agricultural agenda.
In a significant move to kickstart the Lagos Aquaculture Centre of Excellence (LACE) project in Epe, the Lagos State Government has disbursed â¦16,382,100 as compensation to traditional land-owning families.
The project aims to transform the state’s aquaculture sector with about 35 hectares of land. The acquisition falls under the purview of the Agricultural Land Holdings Authority (ALHA), an agency under the Ministry of Agriculture, a media house coverage of the story said.
Speaking at the compensation event, Agriculture Commissioner Abisola Olusanya emphasised the project’s economic importance. He mentioned that it will create employment for the youth and foster growth within the state’s aquaculture value chain.
The LACE project, is a Public-Private Partnership (PPP) between the Lagos State Government and Dula Agro Services Limited. It envisions the production of 50 million fingerlings from the fish hatchery facility, 2,000 metric tons (MT) per annum from the grow facility, 20,000MT per annum of processed fish products (smoked, fillet, and steak), and 24,000MT per annum of fish feed.
Furthermore, underscoring the government’s commitment to fostering a thriving agricultural sector, Olusanya highlighted the importance of fostering private sector investment and cultivating partnerships with all stakeholders. These efforts align with the THEMES PLUS Development Agenda of the Sanwo-Olu administration and the Five-Year Agricultural and Food Systems Roadmap spearheaded by the Ministry of Agriculture.
The compensation disbursement signals the government’s dedication to ensuring fair and equitable land acquisition practices while paving the way to implement the aquaculture project.
