Lagos State Governor Babajide Sanwo-Olu has officially kicked off the Trader Money Initiative. The announcement came during the inauguration of the food Agro-hub situated in the Mushin Idi-Oro area of Lagos, where the governor stated that 15,000 traders would receive 50,000 naira each to bolster their businesses.
Governor Sanwo-Olu reiterated that the Trader Money Initiative fulfills his promise to traders in the state and is set to commence before the end of the year 2023. To ensure equitable distribution, 200 traders will be selected from each local government area in the state, ensuring that the 750 million naira allocated reaches traders irrespective of location.
The governor also disclosed that the mid-level Agro-hub constructed in Mushin Idi-Oro Local Government Area will be replicated across all five state divisions, emphasizing the commitment to benefit the people. The modern marketplace, covering an impressive 6,400 sq.m, includes ample parking space (3,017 sqm) to accommodate trailers and vehicles. It also features centralized wet and dry storage areas for bulk buying.*
Lagos State Commissioner for Agriculture, Abisola Olusanya, highlighted the significance of the new food distribution system in tackling challenges such as post-harvest losses, inflation, carbon footprint, and traffic congestion. She emphasized that this initiative demonstrates the state government’s dedication to achieving the food systems agenda, aligning with the T.H.E.M.E.S Plus Agenda of Governor Sanwo-Olu’s administration.