Tony Elumelu Gives ₦25B to Support Lagos Agriculture Programme

Tony Elumelu, Chairman of the United Bank for Africa (UBA), has pledged ₦25 billion to back the new “Produce for Lagos Programme.” The Lagos Food Systems Infrastructure Company created this initiative to boost farming in Nigeria, improve supply chains, help farmers reach markets easily, and create long-term jobs in agriculture.

Elumelu announced the donation during the official launch of the programme in Lagos on Wednesday. He said the initiative would tackle youth unemployment by supporting agriculture-based jobs. “In a few years, this programme will help us solve joblessness among our young people,” he said. “We have arable land. Our youth should not be without work.”

He urged both government and private organisations to join hands and make the programme successful. He also promised full support from his group of companies, including UBA, Transcorp, Heirs Holdings, and the Tony Elumelu Foundation.

Lagos Launches ₦500 Billion Fund for Farmers

At the event, Lagos State Commissioner for Agriculture and Food Systems, Abisola Olusanya, introduced a ₦500 billion fund. This offtake fund will guarantee stable demand for farm produce, reduce waste after harvest, and protect farmers’ incomes.

Olusanya explained that the Produce for Lagos Programme is a major part of the state’s Agriculture and Food Systems Roadmap, which started in 2021. The goal is to build strong connections with food-producing states, cut down food prices, ensure steady markets for farmers, and promote lasting income opportunities across the farming sector.

She also said the programme supports President Bola Ahmed Tinubu’s Renewed Hope Agenda, which focuses on agriculture and food security as national priorities.

The programme will use data to fix the poor and unplanned flow of food into Lagos. It will also help Lagos become a trusted buyer of farm produce and a key player in regional food trade.

Earlier in March 2024, Lagos and Niger States signed a deal to grow and supply food together. This partnership supports Lagos State’s goal of creating a sustainable and reliable food supply system.