Governor Babajide Sanwo-Olu unveiled the N750 million Lagos Market Transfer Money programme, benefiting 15,000 market traders across 20 Local Governments and 37 Local Council Development Areas. The inauguration occurred at the Fresh Food Agro-Hub in Idi-Oro Market, Mushin Local Government Area.
Sanwo-Olu highlighted the initiative’s aim to tackle post-harvest losses, inflation, traffic congestion, and carbon footprint emissions, addressing these concerns via the Fresh Food Agro-Hub, a pioneering venture in Lagos.
He emphasised that the initial 15,000 beneficiaries would each receive N50,000 as palliatives, intended to mitigate the impact of fuel subsidy removal. The distribution would involve 200 beneficiaries from each local government and an additional 50 nominated by market leaders.
The governor assured an inclusive approach by stating, “We will identify other stakeholders, including markets in barracks and military formations, to ensure broad-reaching intervention.”
Sanwo-Olu reiterated his commitment to fulfilling promises made to traders, increasing the number of beneficiaries from the initial 5,700 promised during earlier meetings to 15,000. He emphasised the potential impact on small traders, stating, “An additional N50,000 can significantly enhance a market woman’s trading capability and contribute to a sustainable livelihood.”
The Governor assured a swift implementation led by the Commissioner for Agriculture, Ms. Abisola Olusanya, and local government chairpersons, ensuring disbursement before December 31st, 2023.
Alhaja Toyibat Borokini, the Iyaloja of Mushin Market, expressed gratitude on behalf of market traders, acknowledging the support amidst challenging economic conditions and affirming the judicious utilisation of the fund to enhance their businesses.
