Tony Elumelu Pledges N25 Billion to Lagos Agriculture Drive, Backs Food Security and Job Creation
Tony Elumelu pledges N25 billion to boost farming and food supply across Lagos State.
The plan supports jobs, youth empowerment, and helps reduce Lagos’ need for food imports.
Chairman of Heirs Holdings and the United Bank for Africa (UBA), Tony Elumelu, has committed a substantial N25 billion to the “Produce for Lagos” initiative a state-led agricultural program aimed at transforming Lagos into a food-secure, self-sustaining economy.
The pledge was made on Tuesday, July 23, 2025, during the official launch of the initiative and the unveiling of the N500 billion Offtake Guarantee Fund held at Lagos House in Ikeja. The landmark investment marks the single largest private sector commitment to the program to date.
In his remarks at the event, Elumelu described the initiative as a visionary move by the Lagos State Government to promote economic inclusion, youth engagement, and agricultural self-reliance. He emphasized that strategic investments in agriculture were essential for tackling the twin challenges of unemployment and food insecurity, particularly in Nigeria’s rapidly urbanizing regions.
“The future of Nigeria’s economic growth lies in empowering our young people and investing in food systems that create jobs and wealth,” Elumelu said. “This commitment through UBA reflects our belief in the transformative power of agriculture and our desire to support inclusive, sustainable development.”
Elumelu confirmed that the N25 billion funding would be disbursed through UBA to directly support agricultural productivity, food supply chains, and agribusinesses linked to the Produce for Lagos framework. The initiative is expected to enhance access to finance for smallholder farmers and agro-entrepreneurs while facilitating long-term food supply to the state’s urban centers.
Beyond the financial pledge, Elumelu also reaffirmed his broader institutional support for the program through the resources and networks of UBA, Transcorp Group, Heirs Holdings, and the Tony Elumelu Foundation.
He commended the Lagos State Government for leading with purpose and innovation and pledged continued collaboration to drive sustainable growth across the agriculture sector.
