The Lagos State Government, on Wednesday, launched the N500bn Produce-for-Lagos Off-taker Guarantee Fund, aimed at boosting food production and supply, reducing imports, and enhancing agricultural productivity in the country.
The Memorandum of Understanding with the cooperating states was unveiled and signed at the Lagos House in Alausa, Ikeja.
Governors Dapo Abiodun (Ogun), Usman Ododo (Kogi), Umaru Bago (Niger), Agbu Kefas (Taraba), and Olajide Owolabi, Deputy Governor of Ondo State, attended the occasion.
Biodun Oyebanji, the governor of Ekiti State, was represented.
Others present included Bosun Tijani, Minister of Communications, Innovation, and the Digital Economy; Gen Christopher Musa, Chief of Defence Staff; Wale Edun, Minister of Finance and Coordinating Minister of the Economy; Doris Aniete, Minister of State for Finance; and Idi Maiha, Minister of Livestock.
Sanwo-Olu also displayed approximately 150 40-foot trucks to facilitate food transportation within and outside of the state.
He described the project as part of President Bola Tinubu’s Renewed Hope Agenda, which aims to promote national food security.
The initiative, according to Sanwo-Olu, would be implemented through the Lagos Food Systems Infrastructure Company and supported by key Special Purpose Vehicles like the Lagos Bulk Trading Company, Ekolog, and the Produce for Lagos Fund.
“Lagos is Nigeria’s food market, and we consume over 50 per cent of the food that is traded in the southwest part of the country.
“We have a food economy that is valued at over N6tn. It is also noted that Lagos loses 50 per cent of its food, largely due to poor storage and inefficient transportation.
“It became clear that we must organise our food systems to feed our people well.
“The ‘Produce for Lagos’ programme will help to create logistics support, and it will help to connect directly to the Lagos dynamic food economy.
“That is why we are launching Ecolog logistics trucks through the Lagos State Food Systems Infrastructure company,” Sanwo-Olu said.
Sanwo-Olu added that the trucks, when in operation, would help to create a new agricultural ecosystem.
“We are going to launch about 150 40-foot trucks that will serve as a step or test for the smooth movement of food.
“The trucks are all CNG-powered and can travel to all parts of the country on a full tank and return to Lagos without refuelling at any petrol station.
“These trucks are the first of their kind, and it is a big initiative for us as a country and as a state.
“So, for us, the N50bn is just a tip, and as you see, some of our friends in the private sector are beginning to show interest.
“What we are doing here is that we are creating a whole new agricultural ecosystem, one that will rise from the demands of today and tomorrow, to combine our policy that will be well-focused, creating a financial model that will outlive us.
“And building infrastructure that will live even for generations that are coming behind us and ensuring that we have a robust database that everybody can work on,” Sanwo-Olu said.
During a fundraising event, Tony Elumelu, Chairman of the United Bank for Africa, announced N25 billion to assist the effort.
“The programme will help to address the issue of unemployment in the state as more youth can be employed to be part of the initiative. UBA will be supporting this initiative with the sum of N25bn,” he said.
On his part, Bago promised to support the state with 500,000 hectares of land.
“When I saw ‘Produce for Lagos’, I said no, I am farming for Lagos. And I have allotted 500,000 hectares for Lagos only, and we will produce only Lagos food,” he said.
Tijani In his address, applauded Sanwo-Olu for the initiative, describing it as one of the most visionary food interventions.
“It gives farmers and food producers the most value for their food produce. By absorbing farm produce, the state government is setting the state up for growth. This is how we build a resilient city and rebuild our future,” Tijani said.
In their respective speeches, the five governors present lauded the programme as “ambitious and apt”.
They expressed a willingness to collaborate with Lagos on comparative advantages to improve food security in the country.
Gen Musa praised the state government and called the project visionary, bridging the vital gap between food security and national stability.
On Wednesday in Abuja, the Director of Defence Information, Brig Gen Tukur Gusau, expressed respect for the courageous collaboration between Lagos State, the business sector, and the Lagos Food Systems Infrastructure Company.
He stated that the project came at a critical time for Nigeria, which was in desperate need of robust and sustainable measures to improve food systems and economic stability.
Musa recognised the initiative’s strategic alignment with the Lagos State Agriculture and Food System Roadmap for 2021, praising the state’s data-driven commitment to boosting agricultural value chains.
