……….As 15,000 traders benefit 50,000 in 6 geopolitical zone
Lagos State government has distributed cash support of 50,000 naira each, to about 15,000 market traders in all Local Government and Local Council Development Area across Lagos State, Southwestern, Nigeria, to the tune of 750 million naira.
Governor of Lagos State, Mr Babajide Sanwo-Olu said the initiative was in fulfilment of the promise he made at the commissioning of the Mid-Level Agro Produce Hub, Idi-Oro, Mushin on Sunday, 17th December, 2023, to the traders.
Speaking at the Lagos Market Trader Money Launch, the governor said the idea was designed as a stop-gap measure to empower small-scale traders in the Food Systems.
The Governor who acknowledged the current economic hardship in the country said activation of such financial support would go along way to improve the lives of the citizens and traders who occupy strategic position in the State’s food distribution network.
LGA/LCDA making a total of 14,250 market traders.“
“Also, 750 beneficiaries were identified from markets within the Barracks and Military formations across the State, and this brings the total number of beneficiaries to 15,000.” he said
Social Inclusiveness
And to ensure social inclusiveness in the implementation of the initiative, the Governor mentioned that “74% of the beneficiaries are women while the remaining 26% are men, 33.7% of these are below 40 years while 66.3% are above 40 years.”
Olusanya explained that the initiative, which is first of its kind for traders by the Lagos State government, was part of the THEMES+ agenda of the state government to develop food production, processing, and invariably crash food prices.
She said with the launch, the governor has fulfilled his plans for a more inclusive social welfare framework for market actors beginning with Lagos Market trader money initiative.
According to her “The Lagos Market Trader Money is the first of its kind where 50,000 naira will be given to about 15,000 market men and women, which covers the 20 local government and 37 local council development areas as well as the markets that covers the police Barack and the support is to give succour to the farmers and traders and improve the Agriculture ecosystem and boost food production. It’s to ease the burden of the traders, from the food to health and transportation.”
“This Initiative, jointly implemented by the Ministry of Agriculture and Local Governments, in collaboration with market leaders across all the fifty-seven LGAs and LCDAs is only the first of many to be launched by Mr. Governor towards helping to shoulder the burdens of the citizenry, ranging from food, health, and education to transportation.”
The Commissioner said the cash support is targeted at expanding the capacity of the beneficiaries to off-take more produce from the farmers, thereby catalyzing increased food production in and outside the state.
In her goodwill message, the Iyaloja General of Nigeria, Mrs Folashade Tinubu -Ojo appreciated and thanked the State Governor for convening such an initiative that would ameliorate the well being of the traders in the state.
She however urged them to use the money judiciously and for the purpose it was meant for, stressing that the cash support was meant to augment their business and can as well assist them start a small business that can thrive.
The beneficiaries who were elated by the gesture praised the governor for such initiative aimed at providing succour to the indigent and vulnerable, particularly the traders who are struggling to riggle out of the current economic challenges.
