By Ikugbadi Oluwasegun
Governor Babajide Sanwo-Olu has launched N500 billion offtake guarantee fund with fleet of 150 cold and dry trucks to boost food supply to Lagos State.
Sanwo-Olu disclosed this on Wednesday in a post on official Facebook account where he said, “Today, we launched the Produce for Lagos programme alongside a ₦500 billion Offtake Guarantee Fund.
“This initiative ensures we are taking concrete steps to make Lagos, and Nigeria as a whole, more food secure, more self-reliant, and better positioned to grow our agricultural sector in a real, lasting way.
“Lagos is the biggest food market in Nigeria. We consume more than half of the food traded in the South-West, and our food economy is worth over ₦16 trillion. That’s huge, and it tells us two things: the demand is there, and the opportunity to build a strong, local supply chain is there too.
“What this programme does is simple. It connects our farmers and producers directly to the Lagos market. We are offering guaranteed offtake, easier access to finance, and real support with logistics. It is about growing food, creating jobs, cutting waste, and helping more people earn a living from agriculture.
“We’re not doing this alone. This is a partnership between the government and the private sector. It is being implemented through the Lagos Food Systems Infrastructure Company, with support from Lagos Bulk Trading Company, Ekolog, and the Produce for Lagos Fund. And to back it all up, we have rolled out a fleet of 150 cold and dry trucks, the largest of its kind in the country, to make sure food gets where it needs to go, safely and efficiently.
“The ₦500 billion fund is designed to attract private capital, lower risk, and provide real financing for traders, transporters, and farmers. Good policy is important, but we also know it takes actual funding and strong follow-through to make a real impact.
“So, I am inviting our partners, other state governments, investors, banks, development agencies, and everyone in the value chain to come on board.
Let us work together to feed Lagos and build a food system that truly lasts.”
