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N750m palliative provided for Lagos traders . On Sunday, Lagos State Governor Babajide Sanwo-Olu introduced a palliative plan, Lagos Market Trader Money, to assist low-income vendors.
The governor made the announcement while launching a middle-level Fresh Food Agro Hub in the Mushin district of the state.
According to a post on his X handle on Sunday, the Lagos Market Trader Money will award N50,000 business grants to 15,000 traders throughout the state’s 57 local governments in the first phase.
“Today, I launched a new palliative scheme in Lagos to support low-income traders,” he wrote. In its first phase, Lagos Market Trader Money will award N50,000 business subsidies to 15,000 dealers throughout our 57 local councils.
“This initiative aims to cushion the impact of economic challenges and empower small businesses.”
The governor said of the food agro hub, “The inauguration of the Fresh Food Agro Market in Mushin aligns with our vision for a coordinated food security network.” Our strategy prioritizes increased food production, processing, and marketing. This system maximizes storage and provides consumers with low-cost fresh agricultural produce.
“This landmark facility marks a watershed moment in Lagos’ food distribution system, paving the way for improved logistics and market modernization.”
“I am grateful for the support and appreciation of Mushin’s traders and community leaders.” The completion of this market project, as well as the debut of Lagos Market Trader Money, is a significant step toward bettering the lives of our market communities.”