Business
LASG Hosts 1st Int’l Coconut Summit, Oct

The Lagos State Government has announced plan to host the 1st ever International Coconut Summit in Nigeria, Oct.22-23, to tap into the global economic opportunities of the coconut value chain.
The Permanent Secretary, Ministry of Agriculture, Dr Olayiwole Onasanya made the disclosure during the inauguration of the Local Organising Committee (LOC) members for the planned event in Lagos, yesterday.
“The summit will increase awareness and sensation on economic potential of coconut value chain; attract high net worth investors into coconut value chain and provide platforms for stakeholders in the value chain to network.
“Ensuring that Nigeria taps from the global economic opportunities of coconut value chain; exposing stakeholders in the coconut value chain in Nigeria to best practices and boosting the foreign exchange earning of the country through coconut potential,” he said.
Onansanya also said that Lagos State is naturally blessed with avalanche of coconut resources of 180km coconut belt, two million trees and large domestic and trans-border markets.
According to him, the state also has innumerable coconut value chain actors with a net worth of N100 billion of trade annually.
He called on LOC members to leave no stone unturned and work in the spirit of comradeship to ensure the success of the summit.
Onansanya said that the state government’s attempt to remove the long chain of bottlenecks in the coconut sub-sector of agriculture informed the promotion of sustainable coconut production, utilisation and commercialisation of the commodity.
He said the ministry, partnering with the Lagos State Coconut Development Authority (LASCODA) and other agency, was rehabilitating coconut grooves and belts, provide ding seedlings, empowering coconut processors among others.
“These achievements call for the organisation of the International Coconut Summit which will be driven by the LOC and hopefully, these references will guide the members.
Meanwhile, Commissioner for Agriculture, Mr Toyin Suarau on behalf of Gov. Akinwumi Ambode inaugurated the LOC and promised total support to ensure the success of the summit.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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