Elumelu promises N25 billion to support Lagos food initiative
Tony Elumelu
Elumelu promises N25 billion to support Lagos food initiative
The Group Chairman, United Bank for Africa (UBA) Plc and Heirs Holdings, Tony Elumelu, has pledged a support of N25 billion Guarantee towards the Lagos State Government’s newly inaugurated ‘Produce for Lagos’ Programme.
The inauguration event, which was held at the Lagos House, Alausa, Ikeja yesterday, marked a bold step in the state’s mission to build a resilient and integrated agricultural economy by leveraging strategic partnerships with the private sector.
Elumelu, who was accompanied to the event by UBA’s Group Managing Director/CEO, Oliver Alawuba, and the President/CEO of Transcorp Group, Owen Omogiafo, emphasised the importance of collaboration between the private sector and government in addressing Nigeria’s food security challenges,
“Lagos is home to all of us, and indeed, it is one state where you just feel at home. This is a great initiative, and whatever His Excellency wants us to do, whether at United Bank for Africa, Transcorp Group, or the Tony Elumelu Foundation, we are committed. As the private sector, we will support you,” Elumelu stated.
He expressed his conviction that the initiative will help the country address the challenge of youth joblessness, adding that “We believe that unemployment is a great betrayal of our young people, they should not be jobless. We have arable land, and together, we will work to make this vision a reality. So, we support this initiative with N25 billion.”
The ‘Produce for Lagos’ Programme, developed in partnership with the Lagos Food Systems Infrastructure Company, aimed to build a coordinated and data-driven framework for food supply into Lagos, Nigeria’s most populous and economically active state. By forging strategic partnerships with food-producing states, the programme is expected to reduce post-harvest losses, guarantee market access for farmers, and lower food prices for consumers across the board.
Lagos State Governor, Babajide Sanwo-Olu, who expressed gratitude to Elumelu and other key private sector partners for their unwavering support, noted that the success of the programme remained rooted in shared vision and joint investment.
He explained that the initiative aligns with the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, placing agriculture and food security at the heart of national development priorities.
