- Lagos Commits ₦500 Billion to End Food Insecurity
- 21 EKOLOG trucks launched to support new logistics
- Olusanya called on all stakeholders to collaborate in building a robust food system
Lagos State Governor, Mr. Babajide Sanwo-Olu, on Wednesday unveiled the Produce for Lagos Program along with a ₦500 billion Food Offtake Guarantee Fund—an ambitious initiative designed to ensure food security, enhance local agricultural output, and stabilize food prices across the state.
Eko Hot Blog reports that Governor Sanwo-Olu while speaking at the event held at Lagos House in Ikeja, described the launch as a major turning point in building a sustainable and resilient food system for both Lagos and Nigeria.
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“Today is a watershed moment in our shared commitment to achieving food security, inclusive prosperity, and sustainable growth not just for Lagos State but for Nigeria,” the governor declared.
As part of the initiative, the governor also launched a fleet of 21 EKOLOG trucks to support a new logistics and distribution network. He revealed that over ₦100 billion in capital commitments have already been secured for the Offtake Fund.
One of the most significant pledges came from Mr. Tony Elumelu, Chairman of Heirs Holdings, who announced a ₦25 billion contribution, signaling strong private sector support for the Lagos food economy.
Sanwo-Olu explained that the fund would offer guaranteed purchase agreements, access to financing, and logistical support for producers and traders throughout the agricultural value chain.
“This fund is not a subsidy,” he said. “It is an investment vehicle that will catalyze private capital, stabilize food prices, and de-risk agricultural operations.”
He added that the program would be implemented through the Lagos Food Systems Infrastructure Company, with backing from other entities like the Lagos Bulk Trading Company and EKOLOG.
“What we are doing here is creating a whole new agricultural ecosystem; one that rises to meet the demands of today and of tomorrow, combining policy, financing, infrastructure, and data,” he added.
Sanwo-Olu also thanked President Bola Ahmed Tinubu for laying the foundation for the Lagos development blueprint, which includes this agricultural transformation.
The Commissioner for Agriculture, Ms. Bisola Olusanya, described the program as a justice-oriented initiative that addresses long-standing gaps in Nigeria’s food supply chain.
“Today we launch a bold history-shaping intervention, to rewire our food chain, reconnect our rural abandon in urban demand, and reward those who farm, trade, transport and nourish us,” she said.
Olusanya stated that the ₦500 billion fund would act as “an anchor that emboldens offtakers to buy, farmers the assurance to plant, financiers the boldness to invest and Nigerians the certainty of daily nourishment.”
According to her, “Produce for Lagos is not just a policy, but a promise that Lagos, Africa’s largest urban consumer base will no longer be served by chance, but through coordination, commitment, and shared responsibility.”
She also highlighted achievements since 2019, including the creation of central food hubs, increased mechanization, subsidies for farmers, and youth-focused programs such as the Lagos Agric Scholars and Agripreneurship initiatives.
“Today is not a leap of faith, but a leap of strategy,” Olusanya noted. “And we say to our sister states, if you grow it, Lagos will take it, with dignity, structure, and guaranteed offtake.” She urged.
She called on all stakeholders, from financial institutions to farmers, to collaborate in building a sustainable and robust food system for Nigeria.
The event was attended by several dignitaries from the agricultural and food sectors, including governors from Ogun, Kogi, Niger, Ondo (represented by the deputy governor), and Taraba States. Ekiti State was also represented.
Also present were the Minister for Digital Economy, Bosun Tijani; Chief of Defence Staff, Gen. Christopher Musa; Chairman of Heirs Holdings, Tony Elumelu; Minister of State for Finance, Doris Aniete; and the Minister of Livestock Development.
