Sanwoolu Launches Market Trader Money Initiative to Empower Small-Scale Traders

Kakalistic.com reports that Lagos State Governor, Babajide Sanwoolu, delivered a stunning Valentine’s Day gift to resilient market men and women of the Center of Excellence amidst the economic situation in the country.

Lagos State Governor, His Excellency, Mr Babajide Sanwoolu.

Mr. Sellable, in his passionate address, expressed delight at the launch of the Lagos Market Traders Money initiative at the iconic Blue Roof venue, Agidingbi-Ikeja, Lagos. The initiative fulfils a promise made during the commissioning of the Mid-Level Agro-Produce Hub in Idi-Oro, Mushin, on Sunday, December 17, 2023.

The launch event flags off the implementation of Lagos Market Trader Money, supporting 15,000 market traders with N50,000 each. Beneficiaries were identified through a collaborative effort between Agricultural Field Officers, Iyalojas/Babalojas, and Market Masters across the state.

The initiative aims to empower small-scale traders in the food system by providing financial support to expand their businesses, fostering economic growth, and improving livelihoods. 15,000 traders positioned strategically in the state’s economic pyramid and food distribution network will benefit from this initiative.

With Lagos State’s growing population estimated at over 24 million and a food system transaction value exceeding six trillion Naira annually, he stated that his government is establishing a dynamic food market system under the Food Systems Transformation Agenda. This agenda, he said, aims to promote food preservation, storage, transportation, and presentation, reducing waste, improving affordability, and ensuring food safety, quality, and accessibility.

He hinted that key projects like the Lagos Central Food Security System and Logistics Hub in Ketu-Ereyun, Epe, and the Mid-Level Agro-Produce Hub in Idi-Oro, Mushin, have been implemented. Work has also commenced on three additional mid-level agro-produce hubs at Sangotedo, Agege, and Abule-Ado, he added.

Earlier, he disclosed that to ensure fairness, beneficiaries were selected from all geopolitical zones of the nation, with 74% being women and 26% men. The initiative aims to transform food systems, stimulate economic activities, and contribute to the administration’s developmental agenda, THEMES+.

“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 and Babaloja. This brings the total number of beneficiaries to 15,000.

“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 the North Central, 373 from the Southwest, and 107 from the North East,” he stated.

Governor Sanwoolu urged beneficiaries to utilize the grant judiciously, contributing to the state’s economic development and ensuring food security for all Lagosians.

Kaka Babatunde

Kaka Babatunde

I am Kaka Babatunde, a budding academic researcher and media enthusiast whose experience in the media industry spans 3 years under @Ekohotblog as a field reporter. I'm a writer, serial volunteer, and community and youth development enthusiast whose collaborative efforts have immensely contributed to nation-building in Epe LGA, Lagos.

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