Empowering Lagos Traders: Sanwo-Olu Unveils ₦750m Market Support Scheme

Lagos State Governor, Babajide Sanwo-Olu, announced a significant initiative on Sunday aimed at supporting low-income traders – the Lagos Market Trader Money. This palliative scheme, launched during the unveiling of a middle-level Fresh Food Agro Hub in the Mushin area, is designed to provide financial assistance to those facing economic challenges.

In the initial phase, the Lagos Market Trader Money will distribute ₦50,000 business grants to 15,000 traders spread across the state’s 57 local councils. Governor Sanwo-Olu shared this news on his social media handle, expressing the scheme’s purpose to cushion the impact of economic difficulties and empower small businesses.

The governor highlighted the importance of the Fresh Food Agro Market in Mushin, emphasizing its alignment with the broader vision for a coordinated food security network in Lagos. The focus is on enhancing food production, processing, and marketing. The facility not only optimizes storage capabilities but also ensures consumers have access to affordable fresh farm produce.

Governor Sanwo-Olu expressed gratitude for the positive response from traders and community leaders in Mushin. The completion of the market project and the launch of Lagos Market Trader Money mark significant steps toward improving the lives of market communities. The initiative is a testament to the government’s commitment to providing support where it’s needed most.