Speaker Obasa commends Lagos State’s ₦500 billion ‘Produce for Lagos’ initiative, highlighting its potential to transform agriculture, boost food security, and strengthen the economy

The Speaker of the Lagos State House of Assembly, Rt. Hon. (Dr) Mudashiru Obasa has commended the ₦500 billion ‘Produce for Lagos’ Initiative a state-backed, private-sector-driven programme designed to strengthen the agricultural value chain and enhance food security across the state.

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Implemented through Special Purpose Vehicles such as the Lagos Food Systems Infrastructure Company (LAFSINCO), Lagos Bulk Trading Company, Eko Logistics, and the Produce for Lagos Fund, the programme aims to support food producers with credit facilities and provide working capital for bulk traders and logistics operators.

This strategic intervention is expected to improve supply chain efficiency and ensure consistent food supply across Lagos and surrounding regions.

Speaking at the launch held at the Lagos House, Alausa, Obasa described the initiative’s ₦500 billion Offtake Guarantee Fund as a “transformative step” toward positioning agriculture as the cornerstone of Lagos’ economic growth.

“The Lagos State House of Assembly is fully committed to this vision, which will help harness the infinite potential of our arable land and transform agriculture into the cornerstone of Lagos State’s economic prosperity,” Obasa said.

Agriculture is a potent driver of food security, job creation, and economic diversification in our state.

He further emphasized the Assembly’s legislative commitment to supporting the agriculture sector, noting that bills like the Food Hub Bill, which seeks to streamline market operations, will be fast-tracked.

Governor Babajide Sanwo-Olu, in his keynote address, called the initiative “a watershed moment” in the journey toward sustainable food systems, inclusive growth, and food sufficiency in Lagos and beyond.

He added that the scheme will provide guaranteed offtake contracts, access to finance, and logistics support for agricultural stakeholders.

Also speaking at the event, Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, reiterated that the initiative was designed as a large-scale offtaker program to attract interstate collaboration and private sector investment, thereby securing Lagos’ food ecosystem.

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The launch event was attended by notable figures including the Governors of Kogi, Ogun, Niger, and Plateau States; Chief of Defence Staff Christopher Musa; Netherlands Consul General Michael Deleen; and UBA Chairman Tony Elumelu, who pledged ₦25 billion to support the initiative.