The Chairman Heirs Holdings and United Bank for Africa (UBA) Tony Elumelu has pledged N25 billion towards the ‘Produce for Lagos’ initiative, a N500bn agricultural programme, aimed at addressing food insecurity and ensuring long-term access to affordable, nutritious food across the state.
The N25 billion support towards the initiative is the single largest support by the private sector to the Produce for Lagos Programme. Speaking at the launch of the programme, Elumelu stressed the need to boost agriculture to not only address the food supply challenge in the country but to also curb the rising unemployment among the young populace.
Noting that food security is very important, Elumelu noted that “an hungry person is an angry person. We have a lot of unemployment in our country. Agriculture and the food system are key to addressing this issue.”
“We believe that joblessness is a major deterrent for our young people. They shouldn’t be idle—we have arable land that can be cultivated. So, all of us must work together to make this vision a reality. You’ve done your part, and private capital must now play its role”, he stated.
Elumelu, whilst noting that the Lagos state government have been quite supportive towards the private sector, said “this is a very critical initiative that all of us should proudly associate with. What you and your team are doing here, and what other governors are doing in their respective states, will collectively help tackle the problem of joblessness among our youth in the coming years.
“What you and your team are doing, along with what others are doing in their communities and schools, will help us significantly. We believe in this cause, and together we will bring this vision to life. You’ve done your part, and we, guided by African values and federal policy, will do ours to make things better for everyone. As the private sector, we will support you.”
Making a pledge of N25 billion, the founder of the Tony Elumelu Foundation (TEF) said the foundation, Transcorp Group, Hiers Holdings and UBA will continue to support the initiatives of the state.
“As soon as I got the invitation, I told the Group Managing Director at UBA to join me here. I also told the current CEO of our transport group to come and observe how they can key into this initiative. From the first call, we knew this was something worth supporting.
“If you recall, during COVID-19, we supported Lagos State first with N1 billion. Lagos is home to all of us. And indeed, it’s not just about being told to support; it’s about understanding the significance of the initiative. So whatever Your Excellency wants us to do—as part of Better Back Africa—we are ready.
