As part of measures to cushion the effect of economic challenges and empower small businesses in the state, the Lagos State Government has announced the payment of N50,000 palliative to support 15,000 traders across the 57 local council development areas (LCDA).
This was disclosed in a statement by the governor of the state, Babajide Sanwo-Olu, on Sunday during the launching of the new Food Agro Hub in Mushin, Lagos.
Sanwo-Olu noted that traders are integral parts of the economic development to of the state, adding that their welfare is a priority in his administration.
He also stated that the initiative will create a thriving environment and market for all participants in the state.
He said“Today, I launched a fresh palliative scheme in Lagos to support low-income traders. The Lagos Market Trader Money in its first phase will provide N50,000 business grants to 15,000 traders across our 57 local councils. This initiative aims to cushion the impact of economic challenges and empower small businesses.
“I made this announcement at the commissioning of the middle-level Fresh Food Agro Hub in Mushin, expanding our food supply chain. This milestone facility signifies a turning point in Lagos’ food distribution system, paving the way for improved logistics and modernization of our markets.”
Speaking on the newly launched Food Agro Hub, Sanwo-Olu emphasized that the facility signifies a turning point in Lagos’ food distribution system, paving the way for improved logistics and modernization of our markets.
He said“The inauguration of the Fresh Food Agro Market in Mushin aligns with our vision for a coordinated food security network. Our roadmap prioritizes boosting food production, processing, and marketing. This facility maximizes storage and offers consumers affordable fresh farm produce.
“I am grateful for the support and appreciation from traders and community leaders in Mushin. The completion of this market project and the launch of Lagos Market Trader Money is a step towards bettering the lives of our market communities.”