Yesterday, Lagos State Governor Babajide Sanwo-Olu delivered on his promise by disbursing N50,000 each to 15,000 traders spanning the 20 local councils and 37 local council development areas (LCDAs), amounting to N750 million.
The governor commenced the distribution of funds at the launch of Lagos Market Traders Money, in line with his commitment made during the commissioning of the Mid-Level Agro-Produce Hub in Idi-Oro, Mushin, on Sunday, December 17, 2023.
As explained by the governor, this initiative serves as a temporary measure by the state government to empower small-scale traders within the food system. By offering financial assistance, the aim is to enable them to expand their businesses, thus fostering economic growth and enhancing the livelihoods of many residents within the state.
Sanwo-Olu expressed confidence that this gesture would lead to sustainable livelihoods and the expansion of businesses for the 15,000 traders who hold strategic positions in the state's economic pyramid and food distribution network.
The governor outlined the meticulous selection process for beneficiaries, which involved identifying 200 traders from markets in each local council and LCDA and an additional 50 beneficiaries chosen by the Iyaloja/Babaloja General in each council/LCDA, totalling 14,250 market traders.
In her remarks, Commissioner for Agriculture Abisola Olusanya commended the governor for fulfilling his promise and initiating the trader money program. She emphasized that this initiative aligns with the government's commitment to supporting sustainable livelihoods and wealth creation for traders across the state.
Olusanya highlighted the significance of the initiative within the context of Lagos being the largest market city-state in sub-Saharan Africa. She underscored that this joint effort between the Ministry of Agriculture and local governments, in collaboration with market leaders, is the first of many initiatives aimed at alleviating the burdens citizens face, including those related to food, health, education, and transportation.
