On Wednesday, the Lagos State Government launched the Lagos Market Trader Money Initiative, aiming to provide N50,000 cash to 15,000 traders in the state to enhance their businesses. Governor Babajide Sanwo-Olu unveiled the program at LTV8, Agidingbi, Ikeja, highlighting the meticulous selection process for the beneficiaries.
Governor Sanwo-Olu outlined that 200 beneficiaries were chosen from markets in each of the 57 local government areas and local council development areas, while an additional 750 beneficiaries were identified from markets within barracks and military formations across the state. This collaboration with respective Iyaloja/Babaloja brought the total number of beneficiaries to 15,000.
To ensure fairness and inclusivity, beneficiaries were selected from all geopolitical zones, with 11,039 from the South-West, 914 from the South-East, 868 from the South-South, 1,710 from North-Central, 373 from the North-West, and 107 from the North-East. Among the beneficiaries, 74% are women, while 26% are men. Age-wise, 33.7% are below 40 years, and 66.3% are above 40 years.
Commissioner for Agriculture, Abisola Olusanya, emphasized that this initiative aligns with the government’s commitment to ensuring sustainable livelihoods and promoting wealth creation for traders across the state.
