Lagos State Governor, Mr. Babajide Sanwo-Olu, on Wednesday, flagged-off the implementation of the Lagos Market Trader Money for 15,000 market traders with a sum of N50,000.00 each amounting to N750 million, aimed at addressing the hardship prevalent in the country.
The launch, which took place at the Blue Roof, Alausa, Ikeja, was in fulfilment of the promise made by the governor at the commissioning of the Mid-Level Agro Produce Hub, Idi-Oro, Mushin last December.
Governor Sanwo-Olu, while speaking at the launch 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 lives of many within the state.
The governor said the initiative would ensure sustainable livelihoods and facilitate businesses expansion for 15,000 traders whom he said occupied a strategic position in the state’s economic pyramid and food
distribution network.
“This initiative was conceptualized as a stop-gap measure of the State Government to empower small-scale traders in the Food Systems by providing them financial support to expand their businesses thereby
fostering economic growth and improving lives of many within the State.
“This will ensure sustainable livelihoods and facilitate businesses expansion for 15,000 traders who occupy a strategic position in the State’s economic pyramid and food distribution network,”
Sanwo-Olu said.
He however, said that Lagos State, with a growing population presently estimated at over 24 million and a food system transaction value of over N6 trillion annually,
“is in the process of establishing a dynamic food market system under the Food Systems Transformation Agenda to promote the preservation, storage, transportation and presentation of wholesome food to the populace, with the aim of reducing food waste, improve affordability, guarantee food safety, quality and accessibility.”
“This initiative led to the implementation of key projects such as the establishment of the Lagos Central Food Security System and Logistics Hub, Ketu-Ereyun, Epe and the Mid-Level Agro Produce Hub, Idi-Oro, Mushin.”
