Lagos State Governor, Mr. Babajide Sanwo-Olu, officially commenced the distribution of Market Traders Money yesterday February 14th, 2024, an initiative aimed at empowering small-scale traders in the food systems.
The initiative, according to the governor, serves as a stop-gap measure to provide financial support to traders, enabling them to expand their businesses, drive economic growth, and enhance livelihoods within the state.
Sanwo-Olu emphasized that the initiative would benefit 15,000 market traders, strategically positioned within the state’s economic pyramid and food distribution network, with each trader receiving a sum of N50,000.00.
Beneficiaries were identified through a collaborative effort between Agricultural Field Officers, Iyaloja/Babaloja Generals, and Market Masters across all Local Government Areas and Local Council Development Areas in the state. The selection process ensured representation from all geopolitical zones of the nation.
The state Commissioner of Agriculture, Ms. Abiola Olusanya, highlighted that the initiative aligns with the state government’s commitment to developing the downstream segment of food and agricultural value chains, focusing on markets and market access. She emphasized the importance of collective efforts in meeting the challenges faced by the citizenry, spanning food, health, education, and transportation.
The Market Traders Money initiative represents the state government’s dedication to fostering economic empowerment and improving the well-being of its citizens.
