Economy

Sustainable Development of the Tourism Potentials in Aquaculture will foster Economic Growth – Sanwo-Olu

The Lagos Governor, Mr. Babajide Olusola Sanwo-Olu has expressed his administration’s strong belief that sustainable development of the tourism potentials in aquaculture and its value chain will not only foster economic growth but also create jobs, reduce poverty and unleash opportunities for entrepreneurship in the state.

Speaking today at the 2019 Lagos Seafood Festival, with the theme “Celebrating the Seafood Diversity of Lagos State”, the State Governor, who was represented at the event by the Deputy Governor, Dr. Kadri Obafemi Hamzat noted that within the agriculture value chain there exist potentials for increased production towards the attainment of the state food security objective, foreign exchange earnings from export and ultimately contribute to the growth of the state GDP.
Saying, “You will all agree with me that Lagos State is endowed with natural landscape traversed by sea and lagoon waters as well as beautiful beaches and waterfronts. 22% of the state’s total land area is covered with water and 180km coastline along the Atlantic Ocean, he added that these unique endowments give the State a comparative advantage in seafood and tourism business which are yearning to be tapped, harnessed and developed for the socio-economic transformation of the state.”

He stated further that to ensure a geometrical increase in fish production with the active participation of the private sector, the state government has initiated several projects in the agricultural space which include the establishments of Fish Farms in Ikorodu and Epe.
According to him, “While the Ikorodu Estate is fully subscribed and produces 10,000 tons of fish per annum, the Ketu Ereyun, Epe Estate will produce 11,000 metric tons on completion of its first phase”
He emphasized that all these initiatives are geared at bridging the demand and supply gap which is estimated at 374,000 tonnes per annum and 155,262 tonnes per annum respectively.

While noting that the Seafood festival presents a unique opportunity to showcase Lagos State aquaculture and seafood potentials to local and international markets as well as stimulate the growth of tourism in the state, the governor, therefore, invited the business community to tap into this highly rewarding investment opportunity.

Earlier in his address, Lagos State Commissioner for Agriculture, Prince Gbolahan Lawal disclosed that Lagos Seafood Festival aimed to boost the development of the creative industry and promote the visibility of the state as a tourist destination in alignment with the entertainment and tourism pillar of the state government’s T.H.E.M.E.S Development Agenda.

He added that in accordance with the theme of the festival, the rich seafood diversity of the state will be projected through the display of various fresh, processed and wide varieties of seafood-based dishes by the exhibitors, adding that it is strengthened by the fact that fishing is the main occupation of the people living in the coastal zones and along the vast lagoon network of the state.

Speaking further, the Commissioner emphasized that entertainment and show business are major activities in the state which provide employment for youths and significantly contribute to the State’s GDP and wellbeing of its people through the creation of an atmosphere for relaxation and enjoyment.

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