Akiolu,Tinubu-Ojo laud Gov. Sanwo-Olu’s N750 million market trader money initiative.
The Lagos State Government has been praised by Chief Folasade Tinubu-Ojo, the Iya Oloja General, and Oba Rilwan Akiolu, the Oba of Lagos, for the distribution of the N750 million Lagos Market Trader Money project.
On Wednesday, at the scheme’s launch in Agidingbi, Ikeja, for 15,000 market men and women, they offered the commendation.
The “Lagos Trader Money” programme, which the governor unveiled on December 18, 2023, would provide a financial injection of N750 million to traders in Lagos.
A total of 15,000 vendors in all of the state’s LGAs (200 from each) were given N50,000 to help them expand their enterprises as part of the programme.
As part of the unveiling ceremonies for the mid-level Agro-Produce Hub in Idi-Oro, Mushin area, the governor made the announcement about the scheme.
The Ajose Opeluwa of Lagos, Chief Lateef Aderibigbe, spoke on behalf of Akiolu, who commanded the merchants to spend the money wisely.
Meanwhile, the traditional leader encouraged the merchants to put their money into projects that would increase profits and decrease food prices.
Traders in the state would have a better life thanks to the governor’s proposal, which Tinubu-Ojo praised in her speech.
She expressed her gratitude to the governor for launching the market trader money and asked the merchants to use it wisely.
I want to stress the need of being frugal with the funds that will be allocated to our nation.
The purpose of this is not to support ‘Aso-ebi,’ but rather to grow and enhance our small-scale enterprises, particularly those dealing in food and agricultural commodities, in an effort to bring their prices down.
The funds are sufficient to launch a modest enterprise; they are not meant for celebration.
If you invest it wisely, it will increase in value, and you’ll have enough to support your family. Be careful with how you spend money.
The state commissioner for agriculture, Ms. Abisola Olusanya, had previously stated that the programme was an attempt by the government to help traders in the state build wealth and have stable livelihoods.
Markets and access to markets are at the heart of the downstream section of food and agricultural value chains, and this project was a part of the state government’s commitment to developing that segment.
The reason behind this is that sub-Saharan Africa’s biggest market city state is Lagos.
The Lagos Market trader money idea was unveiled by the governor during the launching of the mid-level agrofood centre at Idi-Oro Mushin on December 18, 2023. She went on to say that the governor had outlined his ambitions for a more inclusive social-welfare framework for market participants at that event.
First, she said, 15,000 market men and women from all 57 local governments, LCDA, and military and police barracks were each given N50,000.
Increased food production both within and outside the state will be facilitated by the assistance that will be granted today, which is aimed at enhancing the recipients’ ability to purchase more from our farmers.
The 57 LGAs and LCDAs’ respective ministries of agriculture and local governments are working together on this project, with the help of industry heavyweights.
Mr. Governor will be launching many more initiatives to ease the food, health, education, and transportation burdens on the people.
She emphasised the importance of everyone working together to meet the challenges of the present and protect one another.
Mr. Alabi David, who is the chairman of the 57th Lagos State Conference, announced that the group of chairmen would work with the state government to launch additional activities aimed at traders.
At the state level, we expressed our gratitude to the governor for the program’s effort to assist our citizens.
In his statement, he assured the governor that all chairmen of local governments would work together with the state administration to launch more projects that would improve residents’ lives.