Sanwo-Olu Unveils ₦500bn Food Security Initiative, Partners Governors and Elumelu

The Lagos State Government has launched a ₦500 billion Produce-for-Lagos Off-taker Guarantee Fund to boost food production, reduce dependence on imports, and strengthen Nigeria’s agricultural value chain.

The initiative, unveiled on Wednesday at Lagos House, Alausa, included the signing of an MoU with partnering states. Present were Governors Dapo Abiodun (Ogun), Usman Ododo (Kogi), Umaru Bago (Niger), Agbu Kefas (Taraba), and Ondo Deputy Governor Olajide Owolabi.

Minister of Finance Wale Edun, Minister of Communications Bosun Tijani, Minister of Livestock Idi Maiha, and Chief of Defence Staff Gen Christopher Musa were also in attendance.

Governor Babajide Sanwo-Olu described the programme as part of President Tinubu’s Renewed Hope Agenda, explaining that Lagos consumes over 50% of the food traded in the South-West and hosts a ₦6 trillion food economy, yet loses nearly half of its food to poor storage and transportation.

To address this, the state unveiled 150 eco-friendly, CNG-powered 40-foot trucks to support efficient food logistics nationwide.

Sanwo-Olu stated:

“The trucks can travel across the country and return to Lagos on a full tank without refueling. This initiative creates a new agricultural ecosystem supported by strong infrastructure, financing models, and data-driven policies.”

During the event, UBA Chairman Tony Elumelu pledged ₦25bn towards the project, while Niger State Governor Umaru Bago offered 500,000 hectares of land exclusively for Lagos food production.

Sanwo-Olu emphasized that the programme would enhance food availability, generate jobs, and stabilise prices, while Gen Musa lauded its alignment with national security and economic resilience goals.

The project will be implemented through the Lagos Food Systems Infrastructure Company, with support from entities like the Lagos Bulk Trading Company and Ekolog Logistics.