The Executive Governor of Lagos State, Babajide Sanwo-Olu, has called for a decisive shift from oil dependence to agriculture and non-oil exports as the driving force of Nigeria’s economic future.
Speaking on Tuesday at the First Bank Nigeria Limited Agric and Export Expo 2025, Governor Sanwo-Olu emphasized that the nation’s true economic potential lies in the crops it cultivates, the goods it produces, and the products it can proudly present in international markets.
“I am convinced that the Nigeria we want to build cannot depend on oil alone. The true strength of our economy lies in agriculture and non-oil exports. These remain the most reliable paths to creating jobs, fostering innovation, and securing lasting growth for our people,” Sanwo-Olu said.
The governor noted that a diversified economy anchored on agribusiness and manufacturing would not only create millions of employment opportunities but also foster innovation, boost foreign exchange earnings, and stabilize Nigeria’s economic outlook.
Economic experts at the expo also echoed Sanwo-Olu’s remarks, stressing that Nigeria’s overdependence on oil has left it vulnerable to global market shocks. They highlighted that stronger support for agricultural value chains, export financing, and small-to-medium enterprises (SMEs) will be critical to ensuring sustainable growth.
The Lagos State Government, according to Sanwo-Olu, is already implementing strategic initiatives to encourage farmers, exporters, and investors through infrastructure development, access to credit, and policies designed to improve the business environment.
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