Lagos Assembly Reiterates Support for ‘Produce for Lagos’, Hails Massive Offtake

Rt. Hon. (Dr.) Mudashiru Obasa, the Speaker of the Lagos State House of Assembly, has praised the N500 billion “Produce for Lagos” Initiative, a partnership between the private sector and the state government that aims to improve access to agricultural produce, address supply chain inefficiencies, and fortify food security throughout Lagos.

Food producers throughout the state will receive credit support from the program, which will be carried out through Special Purpose Vehicles such as the Lagos Food Systems Infrastructure Company (LAFSINCO), Lagos Bulk Trading Company, Eko Logistics, and Produce for Lagos Fund. Additionally, bulk traders and logistic operators will receive working capital. As a result, private sector investment in agriculture and food systems would increase and Lagos and beyond will have a steady supply of food.

The ₦500 billion Offtake Guarantee Fund is a revolutionary move towards making agriculture the backbone of Lagos’ economic development, Speaker Obasa said reporters on the sidelines of the unveiling on Wednesday at Lagos House, Alausa. He reiterated that the House of Assembly will continue to support any effort that will help the State’s economy grow.

He stated that the Lagos State House of Assembly is totally dedicated to this goal, which would enable us to fully utilize our fertile land and make agriculture the main driver of Lagos State’s economic growth. In our state, we think agriculture has the potential to be a powerful engine for job growth, food security, and economic diversification.

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“The House of Assembly has been very proactive in supporting agriculture through policies and legislation that promote investment, innovation, and inclusivity,” the speaker went on to say. We are confident that the newly launched “Produce for Lagos” campaign will do more to combat food insecurity and guarantee sustained access to reasonably priced, wholesome food throughout the State.

In addition, Speaker Obasa promised that the Assembly would move quickly to adopt the Food Hub Bill, which would formalize market operations and lessen the restrictions on informal trading.

During the initiative’s debut, Governor Babajide Sanwo-Olu called it “a watershed moment in our shared commitment to achieving food security, inclusive prosperity, and sustainable growth not just for Lagos State but for Nigeria” in his keynote address. He went on to say that the initiative will connect everyone directly with Lagos’ thriving food industry by offering financial access, logistics help, and guaranteed offtake contracts.

Ms. Abisola Olusanya, the Commissioner for Agriculture and Food Systems, stated that the program was intended to be a large-scale off-taker program that would concentrate on bolstering the State’s food supply chain through strategic private sector investments and inter-State cooperation. According to Olusanya, the “Produce for Lagos” campaign embodies our dedication to utilizing private sector investment and inter-state cooperation to create robust, sustainable food systems.

Among the notable Nigerians who attended the event were the governors of Kogi, Ogun, Niger, and Plateau States; Christopher Musa, the Chief of Defence Staff (CDS); Michael Deleen, the Consul General of the Kingdom of the Netherlands; and Tony Elumelu, the founder and chairman of UBA Plc, who contributed N25 billion to the cause.