News in brief:
– Lagos State introduces the ₦500 million Ounje Eko subsidy to support poultry, crop, and fish farmers, ensuring food security.
– The initiative includes a 25% subsidy on animal feeds, tractorisation services, and fertilizer distribution.
Lagos State Government has announced the launch of a ₦500 million intervention fund, Ounje Eko, to support local farmers and ensure food security for the state’s over 23 million residents. The initiative is set to commence on February 5.
The Commissioner for Agriculture and Food Systems, Abisola Olusanya, disclosed this during a press conference at Alausa, Ikeja, emphasising that the subsidy program would make food more affordable and enhance domestic food sufficiency.
Public-private collaboration for fair pricing
Olusanya stated that the initiative would be implemented in collaboration with the private sector and other key stakeholders in agriculture. This partnership is expected to help stabilise food prices in the state and reduce the burden of rising costs on consumers.
“The state government will be supporting farmers with a 25 per cent subsidy on animal feeds in their production to markets,” she explained.
The programme will benefit poultry, crop, and fish farmers. In addition to subsidies on animal feeds, farmers will receive support through factorisation services to enhance crop production and distribution of fertiliser bags to boost yields.
Key objectives of the initiative
According to Olusanya, the primary goals of the initiative include:
- Sustaining and improving production levels across different farming sectors.
- Ensuring a steady supply of poultry and fish products in Lagos markets.
- Preventing further farm closures due to rising operational costs.
- Mitigating food insecurity and reducing dependence on food imports.
- Strengthening the local agricultural value chain.
“This initiative is a crucial step in our broader agenda to reduce over-reliance on food imports, strengthen local food production, and enhance the agricultural value chain in Lagos State,” Olusanya affirmed.
