The Lagos State Government and the Food and Agricultural Organisation of the United Nations (FAO) have urged investors to explore the huge opportunities in its proposed 750 hectares cattle feedlot project in Igbodu, Epe.
Mrs Olatokunbo Emokpae, Permanent Secretary, Ministry of Agriculture, stated this at a stakeholders’ engagement on the ‘Feasibility and Value Analysis of the Cattle Feedlot Estate’ on Friday in Ikeja.
The News Agency of Nigeria (NAN) reports that the inception workshop of the Technical Cooperation Facility Project Feasibility and Value Chain Analysis of the Red Meat Value Chain, particularly the Cattle Feedlot Estate in Lagos State was organised by the FAO of the United Nations.
Emokpae said the workshop was aimed at exposing investors to the investment opportunities available in the ministry’s Feedlot Estate Project.
He added that the opportunities span cattle production, processing, logistics, beef marketing, and distribution in the state.
“Today’s event will also identify the project capacity needs, evaluate environmental issues that could arise during its implementation and proffer solutions to mitigate them.
“Lagos State with a human population of over 24 million, currently requires a total of 1.4 million heads of cattle valued at over N490 billion annually while local production from existing feedlots in the state is presently 12,000 heads of cattle.
“This leaves a gap of over 1,380,000 head of cattle which is sourced from other states of the federation and neighbouring countries.
“It is, therefore, clear that a viable investment niche exists in this lucrative value chain, which accounts for about five per cent of the state Gross Domestic Product,” she said.
