THE 500 BILLION PRODUCE FOR LAGOS FUND
The N500 billion Produce-for-Lagos Fund is an Off-taker Guarantee Fund created to support the Produce-for-Lagos ecosystem of operators. They will have easy access to affordable financing and working capital.
The fund will only finance operating expenditures up to a maximum of 50%.
The “Produce-for-Lagos Fund” will be funded through direct investments from investors, including LAFSINCO, private and institutional investors; and the provision of minimum capital requirements by licensed bulk buyers.
- OUR GOAL
The success metrics (goal) of the programme
The main goal of the Produce for Lagos programme is to have a far-reaching impact on Nigeria’s agriculture, economy, infrastructure, and trade. It is structured to promote rural development, strengthen inter-state trade, create massive jobs for participating states, and support national food security, making it a crucial initiator for Nigeria’s long-term economic stability.
The success metrics (goal) of the programme will include:
Contribution of about 7.5 million tons of additional food in the first three farming cycles
Over 60% reduction in national food imports within the first three years of operation
Annual reduction of 20% in food prices and food inflation in the first 5 years of operation.
Creation of over 4 million jobs nationwide within three years of operation
15% increase in IGR of participating states and 30% increase in tax generation from agriculture sector
Achieve 75% formalization of farm operators nationwide and transition into large-scale intensive farming within 10 years of operation.
Creation of over 4 million jobs nationwide within three years of operation
Rollout Plans
The Produce For Lagos Roll-Out Stages
The rollout plan for the Produce-for-Lagos programme will be in three major stages:
ROLL-OUT STAGES
STAGE 1 ROLL-OUT
Programme preparation and initiation, this covers:
01
Initiating programme with relevant key stakeholders.
02
Create programme awareness and publicity.
03
Establish strategic relationships with states and large-scale farmers.
ROLL-OUT STAGES
STAGE 2 ROLL-OUT
Programme launching, this will include:
01
Formalizing partnerships with states.
02
Building farm estates.
03
Registering farm operators.
04
Registering and licensing bulk operators.
ROLL-OUT STAGES
STAGE 3 ROLL-OUT
Programme kickoff and delivery, this will include:
01