Sanwo-Olu launches N750m palliative scheme for Lagos traders

Sanwo-Olu launches N750m palliative scheme for Lagos traders

On Sunday, Lagos State Governor Babajide Sanwo-Olu introduced a palliative program, the Lagos Market Trader Money, aimed at assisting low-income traders.

The governor made this announcement while inaugurating a middle-level Fresh Food Agro Hub located in the Mushin area of the state.

As per his post on social media, the initial phase of the Lagos Market Trader Money initiative intends to offer N50,000 business grants to 15,000 traders spread across the state’s 57 local councils.

His wrote, “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.

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“This initiative aims to cushion the impact of economic challenges and empower small businesses.”

Addressing the food agro hub, the governor wrote, “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 maximises storage and offers consumers affordable fresh farm produce.

“This milestone facility signifies a turning point in Lagos’ food distribution system, paving the way for improved logistics and modernization of our markets.

“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.”

Sanwo-Olu launches N750m palliative scheme for Lagos traders