By Bilesanmi Abayomi
The Lagos State Governor, Babajide Sanwo-Olu, officially inaugurated the disbursement of the N750 million financial intervention scheme known as ‘Lagos Market Trader Money’ in a bid to bolster economic growth and support small-scale traders. The initiative aims to provide financial support to 15,000 beneficiaries across the state, with the first phase kickstarting at the LTV Ground, Agidingbi, Ikeja.
Governor Sanwo-Olu emphasized the importance of the initiative in ensuring food security and affordability for ordinary Lagosians. He urged beneficiaries to utilize the grant effectively to make a tangible impact on the lives of citizens, emphasizing the need for economic development and reduction in the cost of basic food items.
The selection process for beneficiaries involved collaboration with Agricultural Field Officers, Iyaloja/Babaloja General, and Market Masters across all local government areas and council development areas in the state. A total of 15,000 beneficiaries were identified, with 74% being women and 26% men, reflecting the administration’s commitment to social inclusiveness.
Sanwo-Olu highlighted the significance of the initiative in transforming the food systems in the state and stimulating economic activities in various food markets. He underscored the state’s efforts in establishing dynamic food market systems to enhance food preservation, storage, transportation, and accessibility while reducing food waste and ensuring safety and quality.
The governor also announced key projects under the Food Systems Transformation Agenda, including 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. Additionally, work has commenced on three additional Mid-Level Agro-Produce Hubs at Sangotedo, Agege, and Abule-Ado, with plans for the commissioning of the Lagos Central Food Security System and Logistics Hub by December 2024.