The Lagos State Government has launched the Produce for Lagos Programme along with a ₦500 billion Off-Take Guarantee Fund, an ambitious initiative that has received high praise from the Federal Government for aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
During the official launch ceremony held in Lagos, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in a statement delivered on his behalf by the Minister of State for Finance, Dr. Doris Uzoka-Anite, hailed the initiative as a transformational step that exemplifies the power of collaboration between state and federal governments, as well as the private sector.
According to Edun, the new Lagos-led agricultural initiative directly reflects the vision of the Renewed Hope Agenda, which places agriculture at the heart of Nigeria’s long-term economic strategy. He emphasized that the ₦500 billion fund will significantly de-risk the agricultural value chain by providing much-needed assurance to farmers, agribusinesses, and investors.
“This fund sends a clear message: every farmer’s effort will be rewarded with sustainability, every agribusiness can count on reduced risks, and investors can be assured that agriculture in Nigeria is not only viable, it is bankable, scalable, and investable,” Edun stated.
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He further explained that the programme aims to unlock the full productive capacity of farmers, processors, transporters, and traders, while also promoting inter-state economic collaboration and agricultural integration. The initiative is expected to stimulate rural economies, reduce post-harvest losses, and transform Lagos into a self-sufficient food hub contributing actively to national food security.
Highlighting other key federal agricultural initiatives, Edun noted ongoing efforts such as the Presidential Initiative on Compressed Natural Gas (CNG), the National Agricultural Growth Scheme and Agro-Pocket Programme (NAGS-AP), and the rollout of Special Agro-Industrial Processing Zones (SAPZs). He also referenced a $1 billion partnership with the Government of Brazil under the Green Imperative Project, aimed at modernizing Nigeria’s agricultural sector through the deployment of 10,000 tractors and state-of-the-art processing equipment.
The Minister applauded the Lagos State Government for its foresight and called on stakeholders nationwide to join hands in building a future where Lagos not only feeds itself but also strengthens Nigeria’s journey towards food sufficiency.
The ₦500 billion Off-Take Guarantee Fund is expected to serve as a game-changer in agricultural financing, ushering in a new era of investment confidence, productivity, and inclusive growth across the nation’s agribusiness ecosystem.