Tony Elumelu Donates ₦25 Billion to Lagos Agriculture Fund, Applauded for Landmark Private Contribution

Nigerian billionaire and philanthropist Tony Elumelu has made headlines with a monumental ₦25 billion donation to Lagos State’s new agricultural initiative marking one of the largest single private sector contributions to food security in the country’s history.

The announcement came during the unveiling of the ₦500 billion ‘Produce for Lagos’ Off-Take Guarantee Fund, a state-backed program designed to revolutionize food production, reduce reliance on imports, and boost the local farming economy. The event, held in Lagos and hosted by Governor Babajide Sanwo-Olu, attracted top government officials, stakeholders, and business leaders.

Elumelu’s pledge, captured in a now-viral video, drew loud applause from the audience and sparked widespread praise on social media, with many Nigerians hailing the Heirs Holdings chairman as a visionary leader committed to national development.

“This isn’t just philanthropy,” one user wrote on X (formerly Twitter). “This is how billionaires should impact society.”

Governor Sanwo-Olu commended Elumelu’s generosity, noting that such bold private sector support is essential for the success of public initiatives. The fund, he explained, is part of a broader strategy to ensure that Lagos can feed itself sustainably in the years ahead.

Elumelu, who has consistently advocated for African entrepreneurship through the Tony Elumelu Foundation, said the donation aligns with his long-standing belief that Africa’s prosperity must be driven by Africans investing in their own future.