Lagos Launches ₦500bn Fund to Boost Food Security and Economic Growth

Lagos State Governor Babajide Sanwo-Olu unveiled a ₦500 billion Uptake Guarantee Fund on Wednesday, designed to transform the state’s food system, combat hunger, and expand economic opportunities.

The initiative responds to vulnerabilities exposed by COVID-19, climate change, and global supply chain disruptions. “Our goal is to build a resilient, self-sustaining food system that meets Lagos’ needs today and in the future,” Sanwo-Olu stated. “This fund will bridge the gap between producers and consumers, ensuring efficiency and dignity.”

A state-led study revealed that Lagos consumes over 50% of the Southwest’s food output, underscoring the need for local production and distribution solutions. “Our food economy has grown for decades, but recent shocks highlight our exposure. This fund will drive sustainable food security,” the governor added.

To strengthen governance, Lagos renamed its Ministry of Agriculture to the Ministry of Agriculture and Food Systems in 2024. “Food security is now about jobs, dignity, and survival—not just farming,” Sanwo-Olu emphasized. He also acknowledged the initiative’s alignment with President Bola Tinubu’s Renewed Hope Agenda.

Lagos State Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, explained that the fund will enhance logistics, innovation, and market integration. “It assures buyers, empowers farmers, attracts investors, and guarantees affordable food for Lagosians,” she said. The initiative builds on the state’s Agricultural and Food Systems Roadmap (2019) and leverages the Lagos Fresh Food Hub to minimize post-harvest losses and stabilize prices.

Minister of State for Finance, Dr. Doris Uzoka-Anite, praised the initiative as a model for tackling food insecurity. “It aligns with the federal government’s agenda for economic resilience and inclusive growth,” she noted.

Chief of Defence Staff, Gen. Christopher Musa, linked food security to national stability. “A well-fed nation is safer. Ranching investments can also curb herder-farmer conflicts,” he advised.

Philanthropist Tony Elumelu pledged ₦25 billion in support, calling the fund a “transformative step toward job creation.”

The event was graced by Governors Dapo Abiodun (Ogun), Muhammad Bago (Niger), Agbu Kefas (Taraba), and Usman Ododo (Kogi), alongside federal ministers, diplomats, and farmer cooperatives.

The Uptake Guarantee Fund marks a major stride in Lagos’ quest for food sovereignty and economic empowerment.

About The Author

Dele Fashomi

Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.

Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.

He had done many courses in communication, including the EU-BBC Editing Course in 2002.

Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).

He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.

He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.

Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled:  Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.

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