Tony Elumelu pledges N25bn to boost agriculture, tackle unemployment in Lagos

Chairman of United Bank for Africa (UBA), Tony Elumelu, has pledged a landmark N25 billion in support of the Lagos State Government’s Produce for Lagos programme.

The initiative aims to strengthen the state’s food supply chain, boost local agricultural productivity, and address rising youth unemployment.

Announcing the commitment at a high-level event in Lagos, Elumelu described the investment as the single largest private-sector backing of the programme to date. The funding, he noted, is structured as a guarantee to help accelerate investment across key areas of the agricultural value chain.

“We have a lot of unemployment in our country. Agriculture and food systems are critical in tackling this challenge, particularly among our youth. What the Lagos State Government is doing with this initiative is commendable, and we are proud to support it,” Elumelu said.

The Produce for Lagos programme is designed to reduce Lagos’s dependence on food imports by empowering local producers, improving logistics and storage infrastructure, and creating more inclusive market access for farmers. The initiative is also aligned with broader national goals around food security, job creation, and economic self-sufficiency.

Elumelu emphasised the importance of collaboration between the public and private sectors, urging other business leaders to support impactful and sustainable development efforts. “This is not just about food. It’s about livelihoods. It’s about dignity. It’s about creating jobs and opportunities for millions of Nigerians, especially in the upriver sectors of Lagos, where agriculture can thrive,” he said.

The Lagos State Government lauded the UBA Chairman’s gesture, describing it as a “game-changing” commitment that will unlock new value for farmers, agribusinesses, and consumers. Officials say the N25 billion guarantee will serve as a catalyst for additional investments in mechanisation, training, and infrastructure.

This latest commitment adds to UBA’s ongoing efforts to drive economic empowerment and entrepreneurship through the Tony Elumelu Foundation, which has supported thousands of African startups across sectors.

With food inflation and unemployment posing major challenges, the Produce for Lagos programme—backed by strong private-sector partnerships—is seen by stakeholders as a vital step toward building a resilient, self-sustaining food system in Nigeria’s commercial capital.

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