Lagos State, the largest consumer of red meat in the country, is planning to establish cattle ranches, to tap into a market it estimates at N328 billion.
Commissioner for Agriculture Abisola Olusanya, gave the indication today, while speaking on Channels TV Sunrise Daily Programme.
She said the state would be rolling out the Expression of Interest next week, calling on investors, to set up the ranches.
According to Olusanya, Lagos consumes over 6,000 heads of cattle daily, which it does not produce.
The commissioner said the state was working on harnessing sectors where it has a comparative advantage to further grow the Lagos economy.
“Red meat, yes, we do not produce but we would like to expand on what we can do within the red meat sector”, she said.
“Lagos consumes well over 1.8 million heads of cattle on an annual basis. We consume over 6,000 heads of cattle on a daily basis.
“When you consider the transactional value alone for Lagos, it is over N328bn but we are producing nothing . But what stops us from setting up ranches in this state?
“We are the largest market. It also makes sense that we set up ranches such that we are closer to market, we remove the logistics costs.
“We are actually working on that and we would be rolling out the Expression of Interest next week, calling on investors.”