Economy
Obasa Commends N500Billion ‘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.
Economy
Governor Dauda Lawal woos investors, highlights Zamfara’s economic opportunities at CEO Forum
Zamfara State Governor, Dauda Lawal, has called for stronger collaboration between government, businesses and investors to unlock private capital and drive inclusive economic growth in the state.
Lawal made the call while delivering a Special Policy Address at the 2026 CEO Forum organised by the Global Compact Network Nigeria in Lagos.
The forum, held under the theme “Financing a Dignified Future: Aligning Business Action, Policy and Capital,” brought together chief executives, senior government officials, industry leaders, diplomats, trade commissioners and international development partners.
Participants were drawn from key sectors of the economy, including oil and gas, energy, manufacturing, construction and infrastructure.
The governor spoke on the growing competition among states for increasingly selective private capital and the factors that could transform an economic opportunity into an investable proposition.
He explained how his administration was working to bridge the gap between available economic opportunities and investment, with emphasis on building investor confidence while ensuring that investments deliver meaningful outcomes for the people of Zamfara.
According to him, attracting investment requires more than identifying economic opportunities, but also creating the conditions, policies and partnerships capable of giving investors confidence to commit capital.
The forum provided a platform for business leaders, government officials and investors to examine ways of aligning business strategies, public policies and capital deployment to unlock productive investment.
Discussions also focused on identifying businesses, sectors and projects with strong potential but facing difficulties in accessing financing, as well as measures to make such opportunities more attractive to investors.
The organisers also introduced the concept of the “Dignity Dividend,” examining how investment-led growth could translate into better jobs, stronger businesses, increased productivity, local value creation and broader economic participation.
Another key component of the forum was the identification of actionable commitments and partnerships that participating institutions could advance over the next six to 12 months.
Notable speakers at the event included chief executives of First Bank Group, Access Bank, Flour Mills of Nigeria Plc, Nigeria Economic Summit Group, Nigerian Exchange Group, Chellarams Plc, SecureID Group and Greenwich Merchant Bank Plc, among others.
The organisers said the session would culminate in a live showcase of the Business Value and Sustainability Platform (BVSP), described as a standing coalition of business, capital and policy actors designed to sustain the dialogue.
The platform is also expected to contribute to shaping Nigeria’s private-sector engagement during the United Nations General Assembly High-Level Week.
The governor’s participation in the forum comes as Zamfara seeks to strengthen its economic base, attract productive investment and create opportunities that can support sustainable livelihoods and wider participation in the state’s economy.
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