Momentum is building around a ₦500bn agricultural initiative aimed at transforming Nigeria’s food supply chain, as state governors and industry leaders gathered on Wednesday at Lagos House, Ikeja, for the formal launch of the Produce for Lagos Offtake Fund.
The project, spearheaded by the Lagos State Government, seeks to reduce post-harvest losses by purchasing farm produce directly from growers, while improving logistics and ensuring consistent supply to Nigeria’s busiest consumer market.
Governor Babajide Sanwo-Olu emphasized that the scheme is designed to “bridge the gap between producers and consumers,” describing it as a major step toward building a resilient food system.
“Lagos consumes over 50 percent of the food traded across the Southwest, yet nearly half is lost before reaching the market due to poor storage and fragmented supply networks,” Sanwo-Olu said. “This fund will finance access, streamline logistics, and create direct connections to our dynamic food economy.”
Ondo State Governor Lucky Aiyedatiwa, represented by Deputy Governor Olayide Adelami, signaled strong support.
“The collaborative element of the project makes it even more sustainable, and Ondo State has all it takes to be the leading partner,” Adelami said during a press briefing.
Ministers from key sectors lent their voices to the initiative. Doris Uzoka-Anite, Minister of State for Finance, noted that Lagos was modeling a strategy aligned with President Tinubu’s Renewed Hope Agenda on food security.
“Lagos State has reimagined its agricultural engagement not as an isolated effort but as a collaborative venture with food producing states,” she said.
Governors of Ogun, Kogi, Niger, and Taraba states took turns to present their agricultural strengths during a panel discussion, ending with a signed memorandum of understanding to formalize their partnership commitments.
Tony Elumelu, Chairman of UBA, announced a ₦25bn contribution to the fund.
“This project has the capacity to engage more of our youth and boost inclusive growth across the country,” Elumelu said.
As part of the logistics push, 150 Liquefied Natural Gas (LNG) trucks were unveiled for long-haul transportation—marking a technological upgrade in agribusiness mobility.
