Follow Us on Google
By Lukman Olabiyi
Over N100 billion was raised as five governors, ministers, and key stakeholders gathered in Lagos for the official launch of the ambitious N500 billion ‘Produce for Lagos’ initiative, aimed at bolstering food security across Nigeria.
Speaking at the event held at Lagos House, Alausa, Lagos State Governor Babajide Sanwo-Olu revealed that the fund is part of an Off-taker Guarantee Scheme designed to stimulate agricultural production, reduce food imports, and stabilise food prices by securing supply chains.
The initiative seeks to transform Lagos, Nigeria’s largest food market, into a self-sufficient hub by addressing challenges such as post-harvest losses and poor logistics.
Governor Sanwo-Olu noted that Lagos currently consumes more than 50% of the food traded in the Southwest and has a food economy valued at N16.14 trillion.
However, the state loses nearly half of its food supply due to poor storage and transportation inefficiencies.
Among major pledges at the launch was a N25 billion commitment by the United Bank for Africa (UBA), announced by its Chairman, Tony Elumelu.
He emphasised the initiative’s potential to curb youth unemployment and drive economic empowerment across the agricultural value chain.
“This programme will help tackle joblessness among young people and enhance food availability. We in the private sector will continue to support such impactful initiatives,” Elumelu stated.
The initiative also saw the signing of a Memorandum of Understanding (MoU) between Lagos and five partnering states: Ogun, Kogi, Niger, Taraba, and Ondo.
Governors Dapo Abiodun (Ogun), Ahmed Ododo (Kogi), Umaru Bago (Niger), Agbu Kefas (Taraba), and Ondo’s Deputy Governor Olajide Owolabi were in attendance. Ekiti State was represented by an official delegate.
Other dignitaries present included the Minister for Digital Economy, Bosun Tijani; Chief of Defence Staff, Gen. Christopher Musa; Minister of Finance, Wale Edun; Minister of State for Finance, Doris Aniete; Minister of Livestock, Idi Maiha; Deputy Governor of Lagos, Dr. Obafemi Hamzat; and Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa.
Other News
According to Sanwo-Olu, the programme will be driven by the Lagos Food Systems Infrastructure Company (LAFSINCO), with support from Special Purpose Vehicles such as the Lagos Bulk Trading Company, Ekolog (Eko Logistics), and the Produce for Lagos Fund.
“The ‘Produce for Lagos’ programme is a critical step in building a resilient, self-sufficient food system. It will create jobs, reduce post-harvest losses, stabilise prices, and guarantee a steady market for farmers,” Sanwo-Olu said.
Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, highlighted the initiative’s nationwide impact, projecting a 40% reduction in post-harvest losses, the creation of over four million jobs, a 60% cut in food imports, and an annual 25% drop in food inflation.
“With the N500 billion Off-taker Guarantee Fund, we’re catalysing a bold transformation across food production, logistics, marketing, and distribution in Nigeria. This is a clarion call for collaboration across the agricultural value chain,” Olusanya stated.
She emphasised that Lagos, with an estimated population of 25 million (expected to reach 30 million by 2030), will face a food demand worth N7.96 trillion annually by the end of the decade. Without increased local production, the state will need to import food worth N3.38 trillion annually.
“To meet 40% of our food demand locally, Lagos must grow its food output by at least 20% per year. Collaboration is essential,” she added.
The Minister of State for Finance, Doris Aniete, lauded the initiative as a strategic move aligned with President Bola Tinubu’s Renewed Hope Agenda, calling it a unifying platform between northern and southern Nigeria to address the country’s food needs.
“This programme will reduce the cost of transporting food from distant locations, promote regional integration, and unlock the potential of our farmers,” Aniete said.
In his remarks, Minister Bosun Tijani described the initiative as one of the “most visionary food interventions” Nigeria has seen.
“By absorbing and guaranteeing the market for farm produce, Lagos is laying the foundation for long-term economic and food security. This is how we build a future-ready, resilient city,” he said.
The five partnering governors commended the initiative, describing it as “ambitious and timely”.
They pledged to collaborate with Lagos State by leveraging their respective states’ agricultural strengths to boost nationwide food production.
