The Lagos State Government has intensified its drive to modernize and restructure the State’s food ecosystem, issuing a strategic call to investors and financial institutions to scale up participation in its flagship agriculture and food systems projects.
The renewed push for deeper engagement was unveiled recently at the Stanbic Nigeria Business Summit in Victoria Island. The event served as a high-level platform for stakeholders and investors to explore the vast commercial opportunities within the State’s evolving food systems transformation agenda.
A ₦16 Trillion Market Opportunity
Speaking at the summit, the Honourable Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, described Lagos as a powerhouse of consumption, housing over 22 million residents with an annual food economy exceeding $₦16 trillion$.
Despite this massive scale, the Commissioner noted a critical gap: over 70% of food consumed in Lagos is currently sourced from other states through inefficient supply chains. This reliance on fragmented logistics has historically led to high post-harvest losses, price volatility, and inflated costs for the end consumer.
“Lagos is ready to provide the necessary structure, market access, policy support, and enabling environment. We are inviting the private sector to bring the financing, innovation, and operational execution required to scale the State’s food systems efficiently,” Olusanya stated.
Infrastructure as a Catalyst for Investment
To bridge these gaps, the State is implementing a comprehensive intervention framework designed to link production to markets. Central to this strategy is the Lagos Central Food Security Systems and Logistics Hub in Ketu-Ereyun. The facility is engineered to handle over 1,500 trucks daily and features integrated cold storage, dry storage, and processing units.
The Commissioner also highlighted the Imota Rice Mill, which produces over 2.5 million 50kg bags annually, as a blueprint for how structured offtake can transform agricultural production into bankable opportunities. Supporting these large-scale projects is the Produce for Lagos Programme, which creates predictable markets by linking supply directly to demand.
To further de-risk the sector, the State has established a ₦500 billion Offtake Guarantee Fund. This fund is specifically designed to improve the bankability of agribusiness projects and ensure investors have a guaranteed path to returns.
Tackling Systemic Barriers for Farmers
While the government builds the macro-infrastructure, officials remain focused on the challenges facing individual producers. Mr. Emmanuel Audu, Permanent Secretary of the Ministry of Agriculture and Food Systems, participated as a panelist and addressed the “farm-to-table” hurdles.
Audu acknowledged that producers still struggle with limited access to quality inputs, inadequate mechanization, and high transportation costs caused by weak rural road networks. He emphasized that the State’s investment in mid-level food hubs and logistics infrastructure is specifically aimed at reducing these layers of intermediation.
Through the Lagos Agripreneurship Programme, the State has already trained over 15,000 youths in modern agribusiness, ensuring a steady pipeline of skilled labor to support incoming private-sector investment. By combining human capital development with robust policy frameworks, Lagos is positioning itself as West Africa’s premier agrifood investment hub.
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