Empowering Traders: Sanwo-Olu Launches Lagos Market Traders Money Initiative
Lagos State Governor, Babajide Sanwo-Olu, has initiated the distribution of N50,000 each to 15,000 traders spread across the 57 local councils and local council development areas in Lagos, totaling N750 million. This landmark initiative, known as the Lagos Market Traders Money, fulfills the governor’s promise made at the commissioning of the Mid-Level Agro produce Hub, Idi-Oro, Mushin, on Sunday, December 17, 2023.
According to Governor Sanwo-Olu, the primary objective of this initiative is to empower small-scale traders within the food systems by providing them with financial support to expand their businesses, thereby fostering economic growth and improving livelihoods within the state. The governor expressed optimism that this gesture would not only ensure sustainable livelihoods but also facilitate the expansion of businesses for the 15,000 traders who play a crucial role in the state’s economic pyramid and food distribution network.
Governor Sanwo-Olu highlighted the significant impact of this initiative, emphasizing its role in reducing food waste, enhancing affordability, and guaranteeing food safety, quality, and accessibility within Lagos State. He also underscored the government’s commitment to furthering this agenda through the implementation of key projects, including the establishment of additional Mid-Level Agro-Produce Hubs at Sangotedo, Agege, and Abule-Ado, as well as the commissioning of the first phase of the Lagos Central Food Security System and Logistics Hub by December 2024. Beneficiaries were meticulously selected through collaboration between Agricultural Field Officers, Iyaloja/Babaloja Generals, Market Masters, and other stakeholders across the state, ensuring a transparent and inclusive process. This initiative marks a significant step towards empowering traders and fostering economic resilience within Lagos State.
