Investment opportunities in Lagos State
Mineral Resources/Investment Opportunities
The resource potentials of Lagos are enormous. Blessed with mineral resources, which include feldspar, silica, laterite and clay. The determination of the state government towards adequately harnessing the abundant natural resources is extremely encouraging. The government has pledged that it would encourage both local and foreign investors to extensively tap the resource potentials in Lagos. Regarded as Nigerias manufacturing, commercial and financial nerve centre, Lagos State is blessed with many investment opportunities. Because it lies within the rain forest belt, the soil of the state provides adequate impetus for cassava and yam plantations. Besides, its inland waterways, lagoons and creeks are dotted with mangrove and fresh swamp forest, which are veritable source of resource potentials needed for the enhancement of agricultural activities. The activities of the Raw Materials Research and Development Council (RMRDC) towards guaranteeing the total utilization of numerous natural resources, which abound in Lagos State are quite commendable. The Council has in the last five years been evolving strategies through which investment potentials in the state can be fully tapped. Through RMRDC, the Lagos State Government has been able to identify the availability of all its mineral resources and considerable attention is given to the scientific strategy of harnessing these potentials
Agriculture
The Lagos State Government accords relevant attention to the growth of agriculture. Successive governments in the State have continuously implemented various agricultural products, which include rice, maize, cassava, yam, plantain, vegetables, fruits, coconut, palm oil, fish, goat, sheep, rabbits and pigs. The quest of the state government with regard to the enhancement of agriculture is extremely inspiring. Farmers in the state have been provided with the required assistance from the state government. Agricultural inputs like fertilizer, pesticides, herbicides and tractors are continuously purchased and distributed to farmers throughout the state.
In an attempt to boost the growth of the fishery sub-sector, the State Government, through its Ministry of Agriculture procured and distributed several fishing inputs like outboard engines and nets to fishermen in Ijede, Eti-Osa and Ibeju-Lekki riverine communities. Similarly, the livestock sub-sector has continued to enjoy priority support from the government. To enhance the growth of animal husbandry, the state government in February 1995 reiterated its readiness to continuously finance its ultra modern Abattoir and Lairage Complex situated at Agege in Lagos. Established to guarantee hygienic slaughtering of animals, the Complex, according to government, will effectively provide modern facilities for butchers in the State. Determined to forge the state ahead in all agricultural activities, the government recently evolved various Agricultural Development Incentives (ADI) to boost all operations associated with the growth of the sub-sector. These incentives, among other things, guarantee the availability of soft loans to small and medium scale farmers; the allocation of farming land to interested agriculturists and the provision of modern working implements for farmers; Also, the state government is making giant strides as regards providing a face lift for its Agricultural Development Programme (ADP) .
Crude Oil
Of late, crude oil has also been discovered off-shore Lagos. There is a private sector based plan to establish a refinery in the state.
Tourism
Well developed beaches from Lagos to Badagry, Epe and Ikorodu also make Lagos State a good area for investment in tourism. The old town of Badagry played an important role in slave trade on the West African coast and is an important tourist destination.
Please call the office of the information commissioner Lagos State on +01 496 0439 for more information.