Lagos flags off trader money, beneficiaries get N50, 000 each 

The Lagos state governor, Mr. Babajide Sanwo-Olu, 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.

The launch, which took place at the Blue Roof, Alausa, Ikeja, was in fulfillment 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 conceptualised 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 conceptualised 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.