A Public Private Partnership to mass produce fish for local consumption and export has taken off in Lagos State. The initiative which will fetch the federal government 30 percent returns on investment, investors 40 percent and project promoter 30 percent over the next ten years, is located at Igbo-Olomi Ibeju-Lekki area of the state.
Mr. Segun Kowontan, President, Project Fix Nigeria Limited, disclosed this during visit of the Central Bank of Nigeria, Bank of Industry and Lagos State Government, to the World Bank/ETF assisted fish/livestock farm facilities. He said,” the federal government has handed over the facilities to us under PPP arrangement.
We signed the Memorandum of Understanding with the Federal Government less than a year ago. Under the arrangement, the federal government said okay, I have 30 percent of the return on investment, the investors 40 percent and the project promoters 30 percent.”