LAGOS, July 24, 2025 – Lagos State Governor Babajide Sanwo-Olu has intensified efforts to secure nationwide support for the ₦500 billion “Produce for Lagos” Offtake Guarantee Fund, a groundbreaking initiative aimed at addressing food security and empowering agribusinesses across Nigeria.
During a strategic engagement held at the Lagos House in Marina, Sanwo-Olu met with key stakeholders including governors from partner states and business mogul Tony Elumelu, whose ₦25 billion donation had earlier boosted the programme’s credibility. The governor reiterated the urgency of tackling Nigeria’s food crisis through sustainable agricultural partnerships between producing and consuming states.
Sanwo-Olu explained that the Offtake Guarantee Fund is designed to guarantee purchase of agricultural produce from farmers across the federation for consumption in Lagos, a city of over 20 million people with limited arable land but a massive food demand. He noted that the fund would also stimulate rural economies, reduce post-harvest losses, and incentivise mass food production.
Elumelu, chairman of Heirs Holdings, expressed confidence in the project, describing it as “a transformative blueprint” that can shift Nigeria from a food-import-dependent economy to a productivity-driven one. He called on the private sector to support the initiative through financing, logistics, and value-chain development.
Governors from Niger, Benue, Kebbi, and Ekiti States reportedly pledged their cooperation, with several affirming readiness to align local farming communities with the Lagos food off-take structure.
The ₦500 billion fund, launched in partnership with key commercial banks and development agencies, will prioritise crops such as rice, maize, yam, tomato, and poultry, while also supporting infrastructure development like cold storage, farm roads, and transportation.
With food inflation standing at 35.4% as of June 2025, Sanwo-Olu stressed that inter-state collaboration is the most realistic path to ensuring affordable food for Nigerians. “Lagos cannot grow enough to feed itself, but Nigeria can feed Lagos. That’s the message,” he said.
