Lagos State Governor, Mr Babajide Sanwo-Olu, yeaterday, flagged off the distribution of N750million financial intervention scheme tagged “Lagos Market Trader Money” for 15,000 beneficiaries.
The 15,000 beneficiaries, who received N50,000 each, were drawn from across all the six geo-political zones of Nigeria – South-West, South-East, South-South, North-Central, North-West and North East, but are all residents of Lagos.
Speaking during the launch of the Lagos Market Trader Money held at De Blue Roof, Agidingbi, Ikeja, Governor Sanwo-Olu said the gesture will go a long way to actualise his goal of transforming the food systems in Lagos State and stimulate economic activities in various food markets in line with his administration’s THEMES+ developmental agenda.
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Sanwo-Olu implored the beneficiaries to make judicious use of the grant in ways that will contribute to the economic development of the State.
“I urge you to let the citizens of Lagos feel the impact of this grant and all the other support that this administration has been providing towards ensuring food security, through reasonable reduction in the cost of basic food items in a way that it will be affordable to ordinary Lagosians,” he said.
He said the initiative was conceptualized as a stop-gap measure to empower small-scale traders in the Food Systems by providing them financial support to expand their businesses thereby fostering economic growth and improving the lives of many within the State.
Speaking on how the 15,000 traders were selected for the Lagos Market Trader Money, Sanwo-Olu disclosed that “The beneficiaries were identified by the State’s Agricultural Field Officers serving each LGA/LCDA in collaboration with the Iyaloja/Babaloja General and Market Masters of each Local Government/Local Council Development Area across the State.
He also noted that 75 percent of the beneficiaries are women while the remaining 25 percent are men, adding that 35 percent of the beneficiaries are below 40 years while 65 percent are above 40 years.
Speaking earlier, Lagos State Commissioner for Agriculture, Ms. Abisola Olusanya, said the Lagos Market Trader Money initiative is part of the government’s efforts towards ensuring sustainable livelihoods and wealth creation for traders across the State.
Also speaking, the Iyaloja-General of Nigeria, Chief (Mrs.) Folasade Tinubu-Ojo appreciated Governor Sanwo-Olu for the good gestures to market men and women in Lagos State.
