In a major boost to Lagos State’s ambitious ₦500 billion ‘Produce For Lagos’ agricultural initiative, renowned entrepreneur and philanthropist, Tony Elumelu, has committed ₦25 billion to support the programme’s rollout, marking one of the largest private sector contributions to an agribusiness intervention in Nigeria’s recent history.
Governor Babajide Sanwo-Olu unveiled the initiative earlier this week, describing it as a bold policy direction aimed at ensuring food security, reducing dependency on imports, creating rural jobs, and stabilising food prices in Nigeria’s largest urban economy.
Standing alongside the governor, Elumelu pledged his support with a ₦25 billion injection through Heirs Holdings—his investment group—emphasising the urgency of transforming agriculture from subsistence to commercial scale.
“Lagos cannot depend on food brought in from far-flung places. We must grow our own. We must empower our own,” Elumelu declared. “This is not charity. This is investment in our future.”
A Lifeline for Struggling Farmers
For smallholder farmers in Badagry, Elumelu’s support is more than a headline—it is a potential lifeline.
“Sometimes we harvest but have no place to sell. Prices are poor. This new programme gives us hope,” said. “If they buy directly from us, our sweat will not be wasted.”
The Lagos initiative aims to guarantee offtake of farm produce from across the state, with infrastructure and financing to match. The goal is to keep supply chains local, jobs within communities, and food affordable for millions of residents.
Expert Views: Strategic Capital at a Turning Point
Agricultural policy expert, praised Elumelu’s contribution as a “game-changer,” noting that such a move demonstrates how high-net-worth individuals can help bridge public funding gaps.
“₦25 billion is 5% of the total scheme, it’s not just about money; it’s about credibility. When someone like Elumelu steps in, other investors pay attention,” said added that beyond capital, Elumelu’s corporate structure could help shape implementation models that ensure transparency, efficiency, and sustainability.
Lagos’ Big Vision: Food Independence for a Mega City
With over 20 million residents and a daily demand for thousands of tonnes of food, Lagos has long struggled with logistics bottlenecks and rising food costs. The ₦500 billion ‘Produce For Lagos’ programme aims to change that by anchoring local production in rural communities such as Epe, Ikorodu, Badagry, and beyond.
Governor Sanwo-Olu stressed that this model isn’t just about food, it’s about security, dignity, and economic growth.
“We are not just feeding Lagos, we are empowering Lagosians to feed Lagos. This is how we build a resilient economy,” said.
A Model for Other States?
Elumelu’s ₦25 billion commitment has sparked fresh conversations around private sector involvement in national development. Many experts believe that this model of co-funding, where government leads but the private sector backs it with real capital, could be the blueprint for solving other structural problems in sectors like power, housing, and education.
“What we’ve seen today is Africapitalism in action,” said a development economist. “It’s local capital solving local problems. We need more of this.”
Out of the ₦500 billion fund earmarked for the transformative ‘Produce For Lagos’ scheme, Tony Elumelu’s ₦25 billion stands out, not just in size, but in symbolism. It signals a shift from passive philanthropy to strategic nation-building. And for thousands of farmers across Lagos, it may be the beginning of a more hopeful harvest season.
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