Tony Elumelu, Chairman of Heirs Holdings, has announced a N25 billion commitment to support the Produce for Lagos Programme.
The announcement was made on Wednesday during the official launch of the Produce for Lagos Programme and the N500 billion Offtake Guarantee Fund, held at Lagos House, Ikeja, on July 23, 2025.
Elumelu’s pledge represents the single largest financial contribution from the private sector to the initiative, which is aimed at enhancing food security, addressing supply chain inefficiencies, and improving access to agricultural produce across Lagos State.
Elumelu applauded the Lagos State Government for what he described as a transformative step toward economic inclusion. The Heirs Holdings Chairman emphasized that the initiative could significantly reduce youth unemployment by engaging young people in productive agricultural ventures across the state’s arable lands.
“This initiative will tackle the root causes of joblessness. Agriculture has the power to employ millions—if we invest the right way,” Elumelu said.
He added, “We at Heirs Holdings are committing N25 billion to support this food systems transformation. We will work hand-in-hand with the Lagos State Government to scale its impact by creating jobs.”
Elumelu noted that the N25 billion funding commitment will be channeled through the United Bank for Africa (UBA). He also announced an additional N1 billion donation to the Lagos State Government during the event.
What you should know
Earlier, before Elumelu made his pledge, Lagos State Governor Babajide Sanwo-Olu launched the N500 billion Uptake Guarantee Fund – an initiative aimed at transforming the state’s food system, reducing hunger, and boosting inclusive economic growth.
Sanwo-Olu said the programme responds to challenges exposed by COVID-19, climate change, and global supply chain disruptions. He emphasized the urgent need for Lagos to become more self-reliant, citing data that shows the state consumes over half of the Southwest’s food production.
- As part of its strategic repositioning, the state renamed its Ministry of Agriculture to the Ministry of Agriculture and Food Systems in 2024, reflecting the broader social and economic dimensions of food security.
- Commissioner for Agriculture and Food Systems, Abisola Olusanya, described the fund as a catalyst for strengthening the food value chain through guaranteed offtake, improved logistics, and rural-urban integration. She also highlighted infrastructure such as the Lagos Fresh Hub and programmes empowering youth and innovators in agriculture.
- The Federal Minister of State for Finance, Doris Uzoka-Anite, endorsed the initiative as a timely, collaborative model aligned with President Tinubu’s Renewed Hope Agenda.
Chief of Defence Staff, Gen. Christopher Musa, highlighted food security as a pillar of national stability and advocated for ranch development to address herder-farmer conflicts.
The programme is being implemented by the Lagos Food Systems Infrastructure Company in collaboration with private sector partners. It is designed to guarantee market access for farmers, reduce post-harvest losses, and strengthen connections between Lagos and Nigeria’s major food-producing regions, thereby positioning the state as a central hub for agribusiness and investment.
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