The Lagos State Government has launched a N500 billion initiative aimed at boosting agricultural output, cutting down food imports, and stabilising the food supply chain across the country.
Governor Babajide Sanwo-Olu formally unveiled the Produce-for-Lagos Off-taker Guarantee Fund on Wednesday at the Lagos House in Alausa, Ikeja, where he also signed a Memorandum of Understanding (MoU) with several partner states.
In attendance were Governors Dapo Abiodun (Ogun), Usman Ododo (Kogi), Umaru Bago (Niger), Agbu Kefas (Taraba), and Ondo State Deputy Governor Olajide Owolabi. Ekiti State Governor Biodun Oyebanji was represented. Also present were leading federal ministers, security officials, and key private sector figures including UBA Chairman Tony Elumelu.
The fund, Sanwo-Olu explained, will be executed through the Lagos Food Systems Infrastructure Company with support from several special purpose vehicles including the Lagos Bulk Trading Company, Ekolog, and the Produce for Lagos Fund.
“Lagos consumes over half of all food traded in the southwest and accounts for a food economy worth more than N6 trillion. However, due to weak logistics and storage, we lose as much as 50% of that food,” Sanwo-Olu said. “This fund aims to transform our food system by addressing those bottlenecks.”
As part of the project’s logistics support, the governor also unveiled a fleet of 150 CNG-powered, 40-foot Ecolog trucks designed to facilitate food transport across Nigeria. These trucks, he noted, can travel long distances without refuelling, supporting efficient delivery into the Lagos market.
He described the initiative as a critical component of President Bola Tinubu’s Renewed Hope Agenda, emphasizing its role in national food security.
UBA’s Tony Elumelu pledged N25 billion to support the initiative, calling it a job creator and a necessary step in addressing urban food demand. “This programme will create opportunities for our youth and deepen agricultural investment,” Elumelu said during a fundraising segment.
Governor Umaru Bago of Niger State announced that 500,000 hectares of farmland have been designated to supply produce directly to Lagos. “We’re not just producing for ourselves we are farming for Lagos,” he said.
Minister of Communications, Innovation and Digital Economy, Bosun Tijani, hailed the effort as one of the most forward-looking strategies in Nigeria’s agriculture sector. He praised the state’s data-driven and market-oriented approach.
Meanwhile, Chief of Defence Staff, Gen. Christopher Musa, lauded the partnership between government and private stakeholders. In a statement released by Defence spokesperson Brig. Gen. Tukur Gusau, the CDS stressed the importance of food security as a pillar of national stability, linking the Lagos initiative to broader economic and security objectives.
The project aligns with the Lagos State Agriculture and Food System Roadmap unveiled in 2021, which outlined plans for modernising agriculture through infrastructure, logistics, and private sector partnerships.
Governors at the event described the fund as a bold and necessary step, expressing readiness to contribute land, resources, and policy support to ensure the initiative’s success nationwide.
