In a landmark move to tackle food insecurity and rising inflation, Governor Babajide Sanwo-Olu of Lagos State, alongside governors from Ogun, Niger, Kogi, and Taraba, on Wednesday, launched a ₦500 billion Produce-for-Lagos Off-taker Guarantee Fund.
The initiative, aimed at driving agricultural productivity, reducing food imports, and enhancing interstate collaboration, was unveiled at the Lagos House, Alausa, Ikeja.
Speaking at the launch, Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, revealed the programme is projected to:
- Cut post-harvest losses in participating states by 40%,
- Create over 4 million jobs,
- Reduce food imports by 60%, and
- Achieve an annual 25% reduction in food prices and inflation.
“With the launch of the N500 billion Produce-for-Lagos Off-taker Guarantee Fund and programme by Mr. Governor, we are catalyzing a bold vision to scale food production, storage, logistics, and distribution across Nigeria,” Olusanya stated.
Present at the event were high-profile stakeholders including Deputy Governors from Lagos and Ondo States, Speakers of the Lagos Assembly, Ministers Wale Edun and Bosun Tijani, private sector leaders like Tony Elumelu, and representatives from civil society, traditional institutions, and market groups.
With Lagos’ population projected to hit 34 million by 2030, the state’s annual food demand is expected to rise to ₦7.96 trillion, with ₦3.38 trillion potentially required in imports if local production does not increase.
To meet 40% of this demand through local production, the state must grow food output by at least 20% annually, Olusanya warned.
She urged all stakeholders in the agriculture value chain to rally behind the vision to ensure food sovereignty and economic resilience for Nigeria’s most populous city.
