Governor Babajide Sanwo-Olu of Lagos State announced that the Eko Rice value chain has resulted in the creation of at least 2,620 jobs.
He made this announcement while unveiling the ‘Five Billion Series 1′ of the ’30 Billion Eko Rice Contracts Program’ on the Lagos Commodities and Futures Exchange.
In a statement shared on Twitter, the governor described this unveiling as a groundbreaking public-private partnership that will significantly impact agriculture and food security in the state.
Governor Sanwo-Olu emphasized that by ensuring the availability of affordable rice, his government is securing food security for more than 80% of Lagos families while simultaneously empowering local farmers and fostering economic growth.
He expressed pride in the achievements of the rice value chain’s development, which has seen a remarkable 63.5% increase in local paddy production, leading to the creation of over 2,620 jobs and improved livelihoods in rice-producing communities.
The Governor referred to this progress as the start of an agricultural revolution in Lagos.
Through their collaboration with the Lagos Commodities and Futures Exchange, the government aims to guarantee a sustainable supply of paddy to the rice mill.
Under the agreement, 15,000 metric tonnes of paddy will be milled and made available to the public through subscribers every three months. This collaboration serves to strengthen the rice value chain and instill confidence in the market
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