Sanwo-Olu: The unleashing of N750m on 15,000 Lagos traders

Sanwo-Olu at the event

Governor Babajide Sanwo-Olu on Wednesday splashed N750 million on 15,000 Lagos traders as part of the Lagos Market Trader Money.

The governor launched the Lagos Market Trader Money initiative in Ikeja, Lagos on Wednesday with beneficiaries singing his praises.

Sanwo-Olu had promised the traders at the commissioning of the Mid-Level Agro Produce Hub, Idi-Oro, Mushin on Sunday, 17th December, 2023, that he would launch the scheme.

the Governor said the idea was designed as a stop-gap measure to empower small-scale traders in the Food Systems.

Sanwo-Olu acknowledged the current economic hardship in the country, saying the 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.

The governor said his government was aware of the growing population of over 24 million and had been implementing key projects to promote the preservation, storage, transportation and presentation of wholesome food to the populace, with the aim of reducing food waste and guarantee food safety.

Sanwo-Olu stated that the beneficiaries were identified through a process aided by the Agricultural Field Officers that partnered with market masters of each Local Government and Local Council Development Area across the State.

“Today’s event, which flags-off the implementation of the Lagos Market Trader Money will support 15,000 market traders with a sum of N50,000.00 each. The beneficiaries were selected through a methodical process targeted at 200 beneficiaries from markets in each LGA/LCDA in addition to 50 beneficiaries that were selected by the Iyaloja/Babaloja General in each 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.

The governor added 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.”

The governor stated that the geopolitical zones of Nigeria were also considered during the selection process with 11,039 beneficiaries selected from the Southwest, 914 from the South East, 868 were taken from the South South, North Central got 1,710, 373 from the Northwest and 107 captured from the North East.

Sanwo-Olu urged the beneficiaries to make the best use of the grant in ways that would contribute to the economic development of the State, saying that there was the need to actualize the goal of transforming the food systems in the State and stimulate economic activities in various food markets become imperative.

Commissioner for Agriculture, Abisola Olusanya said the initiative was one of the ways the Lagos State Government under the leadership of Sanwo-Olu plans to increase wealth and well being of Lagosians, particularly the men and women traders domiciled in Lagos State.

Olusanya explained that the initiative which is first of its kind for traders by 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 begining with Lagos Market trader money initiative.

“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, education to transportation,” she said.