Lead Investor, Tony Elumelu Votes ₦25 Billion to Transform Lagos Agriculture, Tackle Youth Unemployment
In a landmark move with huge prospects to redefine food security and youth empowerment in Nigeria, billionaire philanthropist and Chairman of United Bank for Africa (UBA), Tony Elumelu, has pledged a ₦25 billion investment into the newly launched Produce for Lagos Programme, an ambitious initiative under the Lagos Food Systems Infrastructure Company.
Speaking at the unveiling ceremony on Wednesday, Elumelu emphasized that the donation was not merely a gesture of goodwill but a strategic investment in the future of Lagos State targeting two of Nigeria’s most pressing challenges: food insecurity and youth unemployment.
“We support this initiative with ₦25 billion. In a few years’ time, it will help us face the challenge of joblessness among our young ones,” Elumelu declared.
“We believe that joblessness is a great problem of our young people. They shouldn’t be jobless when we have arable lands.”
The Produce for Lagos Programme seeks to revolutionize local agriculture by connecting rural producers to urban markets, building robust food systems, and attracting private sector capital to agriculture and agro processing. With Lagos State’s burgeoning population and mounting pressure on food supplies, this intervention is poised to not only enhance food resilience but also catalyze inclusive economic growth.
Elumelu’s commitment underscores a broader call for Africapitalism, his philosophy that the private sector, especially African entrepreneurs, must play a key role in the continent’s development.
Governor Babajide Sanwo-Olu, who lauded the initiative, called Elumelu’s contribution a “bold and visionary intervention that aligns with our vision for a sustainable Lagos.”
As Nigeria grapples with the dual challenges of rising food prices and an escalating youth unemployment crisis, this ₦25 billion commitment could become a model for public-private partnerships that drive systemic change.
