The Lagos State Government has announced the payment of N50,000 palliative scheme to support 15,000 traders across the 57 local council development areas (LCDA) in the state.
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.
According to the governor, the move is to cushion the effect of economic challenges as well as empower small businesses in the state.
Sanwo-Olu noted that traders are integral parts of the economic development 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.
“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.
“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.”
What you should know
Earlier, Nairametrics reported that the Lagos State government launched a middle-level food Agro-hub, located at Idi-Oro in the Mushin area of the State today.
The food hub, a modern facility sitting on 6400 square meters of land, was established by the Babajide Sanwo-Olu administration and is intended to tackle the issues of food insecurity and sustainability plaguing the country.
According to a statement issued by the Lagos State Commissioner for Agriculture, Ms. Abisola Olusanya, on Saturday the middle-level agro-hub will solve the challenge of the inability of markets to efficiently move food from surplus to deficit regions.
“Given the inability of markets to efficiently move food from surplus to deficit regions, poor integration has a major effect on both farmer incomes and on food security, hence the need for food systems transformation as exemplified by Lagos State Government’s middle-level agro hub.
“The launch of a new way of food distribution in Lagos with the commissioning of the middle-level food agro-hub will see to the tackling of problems associated with post-harvest losses, inflation, carbon footprint, and traffic congestion.
“The middle-level food agro hub is located in the heart of Mushin, Idi-Oro, with the modern facility sitting on 6400 square meters of land, has adequate parking (3,017sqm) space to accommodate trailers and vehicles, and has centralized wet and dry storage areas for bulk buying,” the commissioner said.
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Cyrus Ademola is a political and economy analyst with over half a decade experience in journalism, research-based oped, economic reportage and political analysis. His works have been featured on different media outlets, covering from politics to business trends, to crime and security as well as the real estate sector.