Obasa Commends N500bn ‘Produce For Lagos’ Initiative, Reaffirms Assembly’s Support

The Speaker of the Lagos State House of Assembly, Rt. Hon. (Dr) Mudashiru Obasa has commended the N500billion ‘Produce for Lagos’ Initiative, a state government-led collaboration with the private sector to tackle supply chain inefficiencies, enhance access to agricultural produce, and strengthen food security across Lagos.

Implemented through Special Purpose Vehicles like the Lagos Food Systems Infrastructure Company (LAFSINCO), Lagos Bulk Trading Company, Eko Logistics, and Produce for Lagos Fund, the programme will provide credit support for food producers across the state, and working capital for bulk traders and logistic operators.

This will ensure a stable food supply for Lagos and beyond, while boosting private sector investment in agriculture and food systems.

Speaking with reporters on the sidelines of the launch held at the Lagos House, Alausa, on Wednesday, Speaker Obasa described the ₦500 billion Offtake Guarantee Fund as a transformative step toward making agriculture a cornerstone of Lagos’ economic prosperity.

He reaffirmed the House of Assembly’s steadfast support for every initiative that will propel the state’s economy to greater heights.

In his words, “The Lagos State House of Assembly is fully committed to this vision, which will help to harness the infinite potential of our arable land and transform agriculture into the cornerstone of Lagos State’s economic prosperity. We believe that agriculture has the potential to be a potent driver of food security, job creation, and economic diversification in our state.”

Over the years, the Speaker continued, “The House of Assembly has been very proactive in supporting agriculture through policies and legislation that promote investment, innovation, and inclusivity. And we know that the ‘Produce for Lagos ‘ initiative being launched today will go further to address food insecurity and ensure long-term access to affordable, nutritious food across the state.”

Speaker Obasa further assured that the Assembly will expedite deliberations on the Food Hub Bill aimed at formalising market operations and reducing informal trading constraints.

In his keynote address, Governor Babajide Sanwo-Olu described the launch of the initiative as “a watershed moment in our shared commitment to achieving food security, inclusive prosperity, and sustainable growth not just for Lagos State but for Nigeria.”

He added that the program will provide guaranteed offtake contracts, financing access, and logistics support, connecting all and sundry directly with Lagos’s dynamic food economy.

On her part, the Commissioner for Agriculture and Food Systems, Ms Abisola Olusanya, said the initiative was designed as a large-scale off-taker programme that would focus on strengthening the state’s food supply chain through interstate collaboration and strategic private sector investments.

Olusanya said, “The ‘Produce for Lagos’ initiative represents our commitment to building resilient, sustainable food systems by leveraging interstate collaboration and private sector investment.”

The event had in attendance, among other preeminent Nigerians, the Governors of Kogi, Ogun, Niger, and Plateau States; Christopher Musa, Chief of Defence Staff (CDS); Michael Deleen, Consul General of the Kingdom of the Netherlands, and Tony Elumelu, the founder and chairman of UBA Plc, who donated N25billion to support the initiative.