Trader Money: LASG distributes N750m to traders
By Adeola Ogunrinde
Lagos State Governor, Mr. Babajide Sanwo-Olu on Wednesday, officially kicked off distribution of Market Traders Money.
According to the governor, the 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.
Sanwo-Olu disclosed that the initiative would 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.
“Today’s event, which flags-off the implementation of the Lagos Market Traders Money will support 15,000 market traders with a sum of N50,000.00 (Fifty Thousand Naira) each.
“The beneficiaries were identified by our Agricultural Field Officers serving each LGA/LCDA in collaboration with the Iyaloja/Babaloja General and Market Masters of each Local Government/Local Council Development Area across the State.
“The beneficiaries were selected through a methodical process targeted at Two Hundred (200) beneficiaries from markets in each LGA/LCDA in addition to 50 beneficiaries that were selected by the Iyaloja/Babaloja General in each LGA/LCDA making a total of 14,250 market traders.
“Also, 750 beneficiaries were identified from markets within the Barracks and Military formations across the State in collaboration with their respective Iyaloja/Babaloja. This brings the total number of beneficiaries to 15,000.
“To ensure fairness in the selection process while demonstrating the spirit of Lagos as being home to all, the beneficiaries were drawn from across all the geopolitical zones of the Nation with 11,039 from the Southwest, 914 from the South East, 868 from the South South, 1,710 from North Central, 373 from the Southwest and 107 from the North East”, he said.
The state Commissioner of Agriculture, Ms. Abiola Olusanya in her welcome address, said the initiative is part of the state government’s commitment to the development of the downstream segment of food and agricultural value chains which centers on markets and market access.
“This Initiative, jointly implemented by the Ministry of Agriculture and Local Governments, in collaboration with market leaders across all the fifty-seven LGAs and LCDAs is only the first of many to be launched by Mr. Governor towards helping to shoulder the burdens of the citizenry, ranging from food, health, education to transportation.
“It is our hope that individually and collectively, we all rise to the demands of the times to be our brother’s keeper”, she said
