Lagos Launches N500bn Guarantee Fund to Boost Food Security
Lagos State Governor, Gov. Babajide Sanwo-Olu on Wednesday launched a ₦500 billion Uptake Guarantee Fund aimed at transforming the state’s food system, reducing hunger, and boosting inclusive economic opportunities.
Speaking at the event, Sanwo-Olu said the initiative was borne out of the state’s urgent need to reimagine its food security structure following the vulnerabilities exposed by COVID-19, climate change, and global supply disruptions.
“Our vision is to build a resilient and self-sustaining food system that feeds Lagos now and in the future.
“This fund is a safety net that connects producers to consumers with dignity and efficiency,” he said. He said a comprehensive study conducted by the state showed that Lagos consumes over 50 per cent of the food produced in the Southwest, highlighting the urgency for internal production and distribution solutions.
“Lagos has a food economy that’s growing for over 60 years, but recent shocks have shown how exposed we are.
“We must now feed our people sustainably, and this fund is the vehicle to get us there,” he said.
Sanwo-Olu added that the state had restructured its governance framework by renaming the Ministry of Agriculture to the Ministry of Agriculture and Food Systems in 2024.
“This is a deliberate move to reflect the human, social, and economic complexities of food security.
“Agriculture is no longer just about farming, it is about jobs, dignity, and survival,” the governor said.
He thanked members of the Federal Executive Council and private sector partners present, saying the initiative aligns with the Renewed Hope Agenda of President Bola Tinubu.
“We are on the same frontline for food security, and we are working together to ensure Nigeria feeds itself,” Sanwo-Olu said.
Also speaking, the Lagos State Commissioner for Agriculture and Food Systems, Ms Abisola Olusanya, said the fund was a decisive step toward rewiring the state’s food value chain through logistics efficiency, innovation, and rural-urban market integration.
“This fund will assure uptakers to buy, give farmers courage to plant, embolden financiers to invest, and reassure Lagosians of access to safe, affordable food,” she said.
She said the initiative stemmed from planning that began in 2019 with the launch of the state’s five-year Agricultural and Food Systems Roadmap.
According to her, the Lagos Fresh Hub was established to reduce post-harvest losses and stabilise food prices through coordinated aggregation and distribution.
“Our hubs are not just warehouses; they are bridges connecting rural abundance with city tables,” she said.
She also highlighted programmes such as the Lagos Agri-Innovation Club, the Agri-Preneurship Programme, and the Lagos Food Festival, noting that they had empowered youths and tech innovators to reimagine agriculture.
The Minister of State for Finance, Dr Doris Uzoka-Anite, described the intervention as a timely and commendable model for tackling food insecurity through collaborative action.
“This landmark initiative aligns perfectly with President Bola Tinubu’s Renewed Hope Agenda, which prioritises economic resilience and inclusive growth,” she said.
Uzoka-Anite said the Uptake Guarantee Fund would inspire confidence in the sector, promote food access, and protect livelihoods across the agricultural value chain.
“We are proud to support a framework that brings dignity to food production, secures supply chains, and empowers the real drivers of our economy the farmers, processors, and traders,” she said.
The Chief of Defence Staff, Gen. Christopher Musa, also commended the state government for the initiative.
Musa said that food security was essential to national peace and stability.
“A well-fed nation is a safer nation. When communities have food, crime reduces, and peace is more sustainable,” he said.
Musa urged the government to invest in ranch development as a sustainable solution to herder-farmer clashes.
“Building ranches across states will not only modernise livestock farming but also reduce the friction that often results in violence and displacement,” he added.
Founder of Heirs Holdings and philanthropist, Mr Tony Elumelu, applauded the Lagos State Government for what he called a transformative step toward economic inclusion.
“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 also pledged financial backing to the initiative for economic growth and development.
“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,” he said.
Dignitaries at the event included the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani; Gov. Dapo Abiodun of Ogun; Gov. Muhammad Bago of Niger; Gov. Agbu Kefas of Taraba; and Gov. Usman Ododo of Kogi.
Others were, Dr Obafemi Hamzat, Lagos State Deputy Governor; the Deputy Governor of Ondo State, Olayide Adelami; Kwara State Commissioner for Agriculture, Dr Afeez Alabi; members of the diplomatic corps, and representatives of farmer cooperatives from across the country. #Lagos Launches N500bn Guarantee Fund to Boost Food Security GCR Upgrades Geregu Power Plc.’s Rating Outlook to Positive
