Lagos State governor, Akinwunmi Ambode has said Lagos residents spend N3 billion daily on food.

Ambode said this at the opening of a two-day Lagos Food Security Summit and Exhibition organised by the state’s ministry of agriculture on Thursday.

“The figure of food items consumed daily indicates that the investment climate in the state is bright,” Mr. Ambode said.

“Investors are guaranteed a profitable return as the state is the largest consumer of food commodities in the country.

“This is, therefore, a call for huge public and private sector investments in the agricultural sector to ensure food security and create employment opportunities for the youths.”

Ambode said the state boasts of investment opportunities in modern abattoirs, agro processing for export, storage facilities, dairy farming, and livestock feeds production.

“One of the challenges the current economic recession has brought to the fore is the urgent need to develop a sustainable programme that will guarantee food security for our people.

“Our country is blessed with very good arable land and climate that supports food production.

“We need to review and redirect our energies to food production, rather than spend billions of foreign exchange on importation of food and food items that can be cultivated in our country.

“This summit will help proffer solutions to the challenges militating against the achievement of food security and explore various investment opportunities in agriculture and agro-allied business in the state.

“These solutions will help stimulate private investment in the sector so that we can feed our nation and our people without resorting to importation,’’ he said.