Executive Governor of Lagos State, Babajide Sanwo-Olu, has announced the launch of Produce for Lagos Programme with a ₦500 billion Offtake Guarantee Fund.
The Programme lanunched on Wednesday will help Lagos and Nigeria to be “more food secure”, as well as, “better positioned to grow our agricultural sector in a real, lasting way”.
The Governor said, Lagos remains the “biggest” food market in Nigeria and consumes over half of the food traded within the Southwestern region of the country; he added, the State’s food economy is worth “over ₦16 trillion”.
Sanwo-Olu explained, the ₦500 billion Fund is created to pull “private capital, lower risk”, also, to make available “real financing for traders, farmers”.
Governor Sanwo-Olu made known via X: “We launched the Produce for Lagos programme alongside a ₦500 billion Offtake Guarantee Fund.
“This initiative ensures we are taking concrete steps to make Lagos, and Nigeria as a whole, more food secure, more self-reliant, and better positioned to grow our agricultural sector in a real, lasting way.
“Lagos is the biggest food market in Nigeria. We consume more than half of the food traded in the South-West, and our food economy is worth over ₦16 trillion. That’s huge, and it tells us two things: the demand is there, and the opportunity to build a strong, local supply chain is there too.
“What this programme does is simple. It connects our farmers and producers directly to the Lagos market. We are offering guaranteed offtake, easier access to finance, and real support with logistics. It is about growing food, creating jobs, cutting waste, and helping more people earn a living from agriculture.
“We’re not doing this alone. This is a partnership between the government and the private sector. It is being implemented through the Lagos Food Systems Infrastructure Company, with support from Lagos Bulk Trading Company, Ekolog, and the Produce for Lagos Fund. And to back it all up, we have rolled out a fleet of 150 cold and dry trucks, the largest of its kind in the country, to make sure food gets where it needs to go, safely and efficiently.
“The ₦500 billion fund is designed to attract private capital, lower risk, and provide real financing for traders, transporters, and farmers. Good policy is important, but we also know it takes actual funding and strong follow-through to make a real impact.
“So, I am inviting our partners, other state governments, investors, banks, development agencies, and everyone in the value chain to come on board.
“Let us work together to feed Lagos and build a food system that truly lasts.”
