The digitisation of agricultural assets by blockchain infrastructure platform Gluwa is ready to transform the Lagos State agricultural sector.
The project would involve working with the Lagos State ministries of agriculture, finance, science, and technology. As well as the lands bureau on the integration of real farmland into non-fungible tokens, to give access to digital asset-backed loans for all Lagos State farmers; this is according to a statement from the company’s executive officer, Tae Oh.
Utilizing the five-year road map for the agricultural and food systems in Lagos State would greatly increase the value of agricultural assets that could be for identification, recorded, and traded; where the sector is to generate upwards of $10 billion by the year 2025.
It also stated that Lagos State’s goal under the administration of Governor Babajide Sanwo-Olu was to achieve complete independence in the areas of wealth creation, value creation, food security, and industrialization of the agricultural sector.
This information was according to the statement, at the launch of the road map for the agricultural and food systems in the presence of the commissioner for agriculture, Abisola Olusanya.