By Olasunkanmi Akoni & Monsur Olowoopejo
Lagos State government, in collaboration with some financial institutions, has set aside N3 billion to be distributed as loans to various co-operatives participating in the state’s new agricultural estates initiatives.

Permanent Secretary of the Ministry of Agriculture and Co-operatives, Dr. Yakub Basorun, disclosed this, Wednesday, at Alausa, during the public presentation of agricultural estates and other initiatives being embarked upon by the ministry.

The five agricultural estates and initiatives being carried out by the state government, in partnership with the private sector include vegetable estate at Iyaafin at Badagry; poultry estate at Erikorodo, Ikorodu; fish farming at Ketu-Ereyun, Epe, and arable crops estate at Agbowa.

Others are refrigerated Eko Meat Van project and agricultural co-operatives empowerment scheme.

The loan facility, according to Basorun, is part of measures toward ensuring food security and safety for the over 18 million residents as well as providing job opportunities for unemployed youths.

He explained that the state government had concluded plans with some banks to give loans to interested groups.

For the loans to be accessed, the permanent secretary, added that applicants would be screened and certified to be genuine before making recommendation to the bank for approval for the loan.

Basorun assured participants of government determination to provide the enabling environment to facilitate the participation of private sector in the agricultural estate initiatives.