LCCI affirms upward growth trajectory in agric sector 2020

The 2020 outlook of Lagos Chamber of Commerce and Industry (LCCI) has disclosed that  the monetary value of agriculture output has been on the upward trajectory, rising 40 per cent quarter-on-quarter to N5.41 trillion between July and September from N3.86 trillion between April and June, compared with N3.60 trillion in the first quarter.

The statement was contained in the LCCI 2019 Economic Review and Outlook For 2020 made available to newsmen on Thursday in Lagos, by the LCCI’s Director-General, Dr Muda Yusuf.

 

Yusuf said the Central Bank of Nigeria (CBN) like it did in 2019 will maintain status quo by not relenting in supporting the sector with much-needed funds in ensuring that the wide gap between local demand for food and supply is bridged.

 

“However, the director general noted that risk factors to our prognosis include security challenges in the North-east zone; a major food producing region in the country, resurgence in herders-farmers clash in the North-central region.

 

“Overall, we expect the sector to sustain its upward growth trajectory in 2020,” he stated.

 

“We hope the necessary government agencies would take steps required so as not to expose the country to security risks and properly scrutinise those that in the country” he said.

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