Lagos State Governor Babajide Sanwo-Olu yesterday launched the Produce for Lagos Programme and the N500billion Offtake Guarantee Fund, an initiative of the state government aimed at boosting food security, reducing imports and enhancing agricultural productivity across Nigeria.
Governor Sanwo-Olu said the programme and the fund reflected his administration’s commitment to achieving food security, inclusive prosperity and sustainable growth not just for Lagos State, but also for Nigeria.
Speaking during the launching of the programme at the Lagos House, Ikeja, Sanwo-Olu said Lagos is Nigeria’s largest food market, consuming over 50 per cent of the food traded in the Southwest with a food economy valued at N16.14 trillion.
The governor expressed optimism that the programme would provide guaranteed off-take contracts, access to financing and logistics support, connecting Lagosians directly with Lagos’ dynamic food economy.
He said the initiative, which was a partnership between government and the private sector, would boost agricultural production.
Governor Sanwo-Olu also announced and commissioned the deployment of a fleet of 150 cold and dry trucks, the largest of its kind, in partnership with the private sector.
He said the initiative “will boost agricultural production and reduce reliance on informal and uncoordinated supply channels, create jobs for our youths and increase economic returns for all ecosystem stakeholders.
“It will be implemented through the Lagos Food Systems Infrastructure Company (LAFSINCO) and supported by key Special Purpose Vehicles like the Lagos Bulk Trading Company, Ekolog (Eko Logistics), and the Produce for Lagos Fund.
“This N500 Billion Offtake Guarantee Fund will provide working capital for bulk traders, finance for logistics operators, liquidity for aggregators and credit support for food producers across Nigeria. It is a demonstration of our understanding that our food economy cannot thrive on policy alone – it requires financing.
“This fund is not a subsidy; it is an investment vehicle that will catalyse private capital, stabilise food prices and de-risk agricultural operations across the value chain. What we are doing here is creating a whole new agricultural ecosystem, one that rises to meet the demands of today and of tomorrow—combining policy, financing, infrastructure and data.”
Governor Sanwo-Olu called on all state governors, financial institutions, development organisations, foreign missions ‘’and diplomatic representatives from our valued partner nations, regulatory bodies, multilateral organisations, captains of industries, our able farmers nationwide, and other relevant value chain actors to produce for Lagos.’’
“Let us rise together to feed this nation sustainably. Let us collaborate across borders, build resilient infrastructure, support, and secure our food future not just for Lagos, but also for Nigeria. Let us lead, let us inspire, and let us grow for the prosperity of our people and the greatness of our country,” he said.
