Governor Babajide Sanwo-Olu of Lagos State has unveiled a Trader Money initiative designed to provide financial support to market men and women in the state, with a total allocation of N750 million. The announcement was made during the inauguration of the Food Agro-hub situated in the Mushin Idi-Oro area of Lagos.
Under this initiative, 15,000 traders will receive N50,000 each to bolster their businesses. Governor Sanwo-Olu emphasized that this move fulfills his promise to traders in the state and is set to commence before the close of the year 2023.
To ensure equitable distribution of the funds, the governor outlined that 200 traders will be selected from each local government area in the state, ensuring that the N750 million reaches traders across various locations.
Governor Sanwo-Olu also revealed plans to replicate the mid-level Agro-hub established in Mushin Idi-Oro across the five divisions of the state, benefiting a wider populace. The Mushin Idi-Oro Agro-hub spans 6,400 square meters and includes ample parking space (3,017 square meters) for trailers and vehicles. It also features centralized wet and dry storage areas catering to bulk buying.
The state Commissioner for Agriculture, Abisola Olusanya, highlighted the significance of this innovative approach to food distribution in Lagos. The initiative aims to address challenges related to post-harvest losses, inflation, carbon footprint, and traffic congestion. Olusanya emphasized that this initiative aligns with the state government’s commitment to achieving the food systems Agenda as part of the T.H.E.M.E.S Plus Agenda of Governor Sanwo-Olu’s administration