Lagos State Government Begins Payment of N50,000 Palliative Scheme to 15,000 Traders Across 57 LCDAs

The Lagos State Government, under Governor Babajide Sanwo-Olu, has unveiled a relief initiative, the Lagos Market Trader Money, to support 15,000 low-income traders spread across the state’s 57 local council development areas (LCDA).

Governor Sanwo-Olu announced this initiative during the inauguration of the Fresh Food Agro Market in Mushin. The scheme aims to alleviate economic hardships faced by traders and empower small businesses by providing N50,000 business grants to each of the 15,000 selected traders.

The governor emphasized that these traders are crucial to the state’s economic progress, asserting that their well-being is a primary focus of his administration. The initiative also intends to foster a thriving market environment for all stakeholders within Lagos.

Moreover, the newly launched Food Agro Hub, situated in Mushin, symbolizes a pivotal moment in Lagos’ food distribution system. It marks a stride towards enhancing logistical efficiency and modernizing local markets, aiding in the production, processing, and distribution of farm produce at affordable rates for consumers.

Governor Sanwo-Olu reiterated the state’s commitment to a coordinated food security network, focusing on increasing food production, processing, and marketing. This modern facility, spanning 6400 square meters, aims to resolve challenges related to inefficient food distribution from surplus to deficit regions, thereby reducing post-harvest losses, inflation, and traffic congestion.

The Lagos State Commissioner for Agriculture, Ms. Abisola Olusanya, highlighted the significant impact of the middle-level agro-hub in addressing food insecurity and inefficiencies in food distribution, enhancing storage capabilities, and optimizing logistical operations.

This initiative marks a strategic step by the Lagos State Government to bolster economic sustainability, empower small-scale traders, and ensure food security through innovative and modernized agricultural practices.