By John Umeh
In a bold move to combat food insecurity and promote sustainable agriculture, Tony Elumelu, the Chairman of United Bank for Africa (UBA) and Heirs Holdings, has pledged a substantial ₦25 billion in support of the Lagos State Food Initiative, signaling a major private sector commitment to food security in Nigeria’s commercial hub.
The announcement was made during a high-level agricultural summit convened by the Lagos State Government, where Elumelu outlined his vision for transforming the food landscape in the state. He emphasized the urgency of addressing rising food prices, supporting local farmers, and ensuring that Lagosians have consistent access to affordable and nutritious food.
“Food security is national security,” Elumelu said. “We cannot build a strong and inclusive economy if our people are hungry. This ₦25 billion commitment is an investment in the people of Lagos, in our farmers, and in the future of Nigerian agriculture.”
The funding, channeled through the Heirs Foundation and Heirs AgriTech, will support a range of initiatives including modernized farming infrastructure, agribusiness training for youths, access to low-interest loans for smallholder farmers, improved logistics for food distribution, and digital platforms to connect producers directly with markets.
Governor Babajide Sanwo-Olu praised the intervention as a “game-changer,” noting that public-private partnerships are crucial to Lagos State’s agricultural roadmap. He commended Elumelu’s consistent leadership in nation-building and called on other business leaders to follow suit.
Elumelu, one of Africa’s most prominent philanthropists and entrepreneurs, has long championed Africapitalism — a philosophy that emphasizes the private sector’s role in driving social and economic development on the continent. His latest contribution underscores that belief, with a focus on tackling hunger and empowering underserved communities.
Analysts say the ₦25 billion boost could significantly enhance the Lagos Food Initiative’s capacity, which aims to reduce dependency on imported food, boost local production, and create thousands of agro-related jobs.
The partnership between Lagos State and Heirs Holdings is expected to roll out in phases, beginning with key pilot farms and distribution hubs in strategic locations across the state.
This latest philanthropic and developmental push by Elumelu not only reinforces his commitment to national development but also marks a major milestone in the fight for food security in Nigeria.
