Lagos State’s bold efforts to transform its agricultural landscape received a major boost on Wednesday as Tony Elumelu, Chairman of Heirs Holdings, pledged a ₦25 billion investment to support the Produce for Lagos Programme. The announcement, made at the launch of the initiative and its accompanying ₦500 billion Offtake Guarantee Fund, marks the largest private sector commitment to the programme to date.
Speaking at the Lagos House in Ikeja, Elumelu hailed the state government’s initiative as a turning point in the fight against food insecurity and youth unemployment. He noted that the programme’s focus on agricultural value chains and inclusive economic growth aligns with Heirs Holdings’ mission to catalyse prosperity in Africa.
“This initiative will tackle the root causes of joblessness. Agriculture has the power to employ millions—if we invest the right way,” said Elumelu. “We at Heirs Holdings are committing ₦25 billion to support this food systems transformation. We will work hand-in-hand with the Lagos State Government to scale its impact by creating jobs.”
Elumelu also announced a separate ₦1 billion donation to support the initiative, revealing that the ₦25 billion investment will be disbursed through the United Bank for Africa (UBA).
The Produce for Lagos programme, spearheaded by Governor Babajide Sanwo-Olu, seeks to boost local food production, build sustainable supply chains, and reduce Lagos’s dependence on food imports. It is anchored by the ₦500 billion Offtake Guarantee Fund—a public-private model designed to ensure that farmers have reliable markets for their produce while reducing post-harvest losses.
Governor Sanwo-Olu stated that the programme responds to food insecurity challenges made more visible by the COVID-19 pandemic, climate change, and persistent global supply disruptions. “Lagos consumes over half of the Southwest’s food output, yet produces far less than it consumes,” he said. “This must change.”
As part of its strategic repositioning, the Lagos State Government last year renamed its Ministry of Agriculture to the Ministry of Agriculture and Food Systems, signalling a shift toward a more holistic, systems-based approach to food security.
Commissioner for Agriculture and Food Systems, Abisola Olusanya, described the offtake fund as “a catalyst” that will energise the agricultural sector, connect rural producers to urban markets, and support innovations in logistics, storage, and agro-processing. She cited infrastructure projects such as the Lagos Fresh Hub and youth-focused empowerment schemes as critical enablers of the programme.
The Federal Government also backed the initiative. Minister of State for Finance, Doris Uzoka-Anite, praised it as “a timely, scalable model” aligned with President Bola Tinubu’s Renewed Hope Agenda.
Also speaking at the launch, Chief of Defence Staff, Gen. Christopher Musa, underscored the national security implications of food systems transformation. He advocated for investment in ranches and structured grazing as part of broader efforts to reduce herder-farmer conflicts and stabilise rural economies.
The Produce for Lagos initiative is being implemented by the Lagos Food Systems Infrastructure Company in partnership with private sector actors and development agencies. Its goal is to create a resilient food economy, strengthen rural-urban linkages, and position Lagos as a hub for agribusiness innovation and investment.