Governor Sanwo-Olu Launches N750 Million Trader Money Initiative to Boost Lagos State’s Local Economy

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In a bid to uplift low-income traders and fortify Lagos State’s food supply chain, Governor Babajide Sanwo-Olu inaugurated the Trader Money Initiative, injecting a substantial N750 million into the program. The announcement came during the commissioning of the Fresh Food Agro Hub in Mushin, underscoring the state’s commitment to bolstering its economic foundations.

In its initial phase, the Trader Money Initiative plans to disburse N50,000 business grants to 15,000 traders across the 57 local councils of Lagos State. Governor Sanwo-Olu emphasized that this program is a fulfillment of his promise to support the state’s traders, marking the commencement before the close of 2023.

Governor Sanwo-Olu outlined a meticulous plan to ensure equitable distribution, disclosing that 200 traders from every local government area, irrespective of location, will benefit from the N750 million fund. This move seeks to maximize the impact of the initiative, reaching traders in every nook and cranny of the state.

Highlighting the significance of the initiative, the governor announced the replication of the mid-level Fresh Food Agro Hub in Mushin throughout the state’s five divisions. The hub, spanning 6,400 square meters, boasts centralized wet and dry storage facilities for bulk purchases, along with extensive parking space to accommodate trailers and vehicles.

The state’s Commissioner for Agriculture, Abisola Olusanya, praised the Trader Money Initiative for its innovative approach to food delivery, noting its potential to address post-harvest losses, inflation, carbon footprint, and traffic congestion. She underscored that the initiative aligns with Governor Sanwo-Olu’s T.H.E.M.E.S Plus Agenda, particularly

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