SANWO-OLU TO UK: CONSIDER LAGOS AS DESTINATION OF CHOICE FOR INVESTMENTS
in line with his administration’s THEMES+ developmental agenda.
Sanwo-Olu had during the commissioning of the Mid-Level Agro produce Hub, Idi-Oro, Mushin on Sunday, December 17, 2023, announced a N750 million financial intervention scheme for Lagos traders tagged “Lagos Market Trader Money” for 15,000 traders across the State.
Sanwo-Olu fulfilled his promise in less than 60 days as 250 traders from each of the 20 local governments and 37 Local Development Council Areas (LCDAs), as well as 750 beneficiaries identified from markets within the barracks and military formations across the State, yesterday, received N50,000 each.
Sanwo-Olu implored the beneficiaries of the Lagos Market Trader Money to make the best and judicious use of the grant in ways that will contribute to the economic development of the State.
“I urge you to let the citizens of Lagos feel the impact of this grant and all the other support that this administration has been providing towards ensuring food security, through reasonable reduction in the cost of basic food items in a way that it will be affordable to ordinary Lagosians,” he said.
Sanwo-Olu said the initiative was conceptualised as a stop-gap measure of the Lagos State Government to empower small-scale traders in the food systems by providing them financial support to expand their businesses thereby fostering economic growth and improving the lives of many within the State.
He said: “This will ensure sustainable livelihoods and facilitate business expansion for 15,000 traders who occupy a strategic position in the State’s economic pyramid and food distribution network.
“Lagos State, which has a growing population presently estimated at over 24 million has a food system transaction value of over N6trillion annually, is in the process of establishing a dynamic food market system under the Food Systems Transformation Agenda to promote the preservation, storage, transportation and presentation of wholesome food to the populace, with the aim of reducing food waste, improve affordability, guarantee food safety, quality and accessibility.
“This initiative led to the implementation of key projects such as the establishment of the Lagos Central Food Security System and
Logistics Hub, Ketu-Ereyun, Epe and the Mid-Level Agro Produce Hub, Idi-Oro, Mushin. As a mark of our resolve to follow through with the Agenda, work has commenced on three additional Mid-Level AgroProduce Hubs at Sangotedo, Agege, and Abule-Ado, while the first phase of the Lagos Central Food Security System and Logistics Hub will be commissioned by December 2024.”
Speaking on how the 15,000 traders were selected for the Lagos Market Trader Money, Governor Sanwo-Olu disclosed that “The beneficiaries were identified by the State’s Agricultural Field Officers serving each LGA/LCDA in collaboration with the Iyaloja/ Babaloja General and Market Masters of each Local Government/Local Council Development Area across the State.”