United Bank for Africa (UBA) chairman Tony Elumelu has contributed N25 billion to the Lagos Food Systems Infrastructure Company’s Produce for Lagos Program.
The initiative is anticipated to boost the state’s economy and increase food security.
During the initiative’s Wednesday launch in Lagos, Elumelu made the donation public.
According to Elumelu, “it will help us face the challenge of our young ones’ unemployment in a few years.”
We think that a major issue facing our youth is unemployment. Since our lands are arable, they shouldn’t be unemployed.
He called it “our initiative” and urged all parties involved to work together to realize the vision.
“We will carry out your excellency’s instructions at United Bank of Africa, Transcorp Group, Tony Elumelu Foundation, and Heirs Holdings,” Elumelu declared.
The state’s commissioner for the ministry of agriculture and food systems, Abisola Olusanya, formally introduced the Produce for Lagos Program and an offtake guarantee fund worth N500 billion.
According to Olusanya, the program is a component of the Lagos State Agricultural and Food Systems Roadmap, which was introduced in 2021.
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“The program introduces a data-driven framework that allows states to track and optimize the supply of agricultural produce to the state, addressing the informal and uncoordinated flow of food into Lagos,” she stated.
“The Produce for Lagos Program aims to provide farmers and agribusinesses with market access, enhance supply chain efficiency, lower food costs and post-harvest losses, and establish sustainable livelihoods throughout the agricultural value chain,” Olusanya stated.
“His Excellency President Bola Ahmed Tinubu’s Renewed Hope Agenda, GCFR, which prioritizes agriculture and food security as national goals, is in line with this.”
According to the commissioner, the initiative establishes Lagos as a strategic partner and trustworthy offtaker in the development of a robust and integrated agricultural economy.
The administrations of Niger and Lagos states signed a memorandum of understanding (MoU) in March 2024 about the production and distribution of food products between them.
