Following the food challenge the country is facing, with price of foodstuffs soaring high by the day, traders who occupy strategic position in the food distribution network are also feeling the pain, as they are finding it extremely difficult to break even.

However, in what seems a sudden show of concern, the Lagos State government has put smiles on the faces of traders in the state through the launch of Lagos Market Trader Money, where a grant of N750 million was distributed to traders across markets in the state.

The initiative was in fulfilment of promise made by Governor Sanwo-Olu at the commissioning of Mid-Level Agro Produce Hub, Idi-Oro, Mushin on December 17, 2023, where he disclosed the idea was designed as a stop-gap measure to empower small-scale traders in the food ecosystem.

The governor, who distributed cash support of N50, 000 to 15,000 market traders, acknowledged the current economic hardship in the country, noting the activation of such financial support will go a long way to improve the lives of the citizens and traders who occupy strategic position in the state’s food distribution network.

Governor Sanwo-Olu stated government is aware of the state’s growing population, which is over 24 million and has been implementing key projects to promote the preservation, storage, transportation and presentation of wholesome food to the populace, as well as guarantee food safety.

He said the beneficiaries were identified through a process aided by the Agricultural Field Officers (AFOs) that partnered with market masters of each council and local council development area across the state.

“Today’s event, which flags-off the implementation of the Lagos Market Trader Money will support 15,000 market traders with a sum of N50,000.00 each. The beneficiaries were selected through a methodical process targeted at 200 beneficiaries from markets in each LGA/LCDA in addition to 50 beneficiaries that were selected by the Iyaloja/Babaloja General in each LGA/LCDA making a total of 14,250 market traders.

“Also, 750 beneficiaries were identified from markets within the barracks and military formations across the state and this brings the total number of beneficiaries to 15, 000,” he said

To ensure social inclusiveness in the implementation of the initiative, the governor mentioned that 74 per cent of the beneficiaries are women, while the remaining 26 per cent are men, 33.7 per cent of these are below 40 years, while 66.3 per cent are above 40 years.

He added that the geopolitical zones of Nigeria were also considered during the selection process with 11,039 beneficiaries selected from the Southwest, 914 from the Southeast, 868 were taken from the South South, North Central got 1,710, 373 from the Northwest and 107 captured from the North East.

The governor who urged the beneficiaries to make the best use of the grant in ways that would contribute to the economic development of the state, said the need to actualise the goal of transforming the food systems in the state and stimulate economic activities in various food markets has become imperative.

Earlier, in her welcome address, the Commissioner for Agriculture, Ms Abisola Olusanya, said the initiative is one of the ways the state government plans to increase wealth and well being of Lagosians, particularly, the men and women traders domiciled in the state.

Olusanya said the initiative, which is first of its kind for traders by Lagos State government, was part of the THEMES+ agenda of the state government to develop food production, processing and invariably crash food prices.

She said with the launch, the Governor has fulfilled his plans for a more inclusive social-welfare framework for market actors’ beginning with Lagos Market trader money initiative.

Olusanya said: “The Lagos Market Trader Money is the first of its kind where N50, 000 is given to about 15,000 market men and women, which covers the 20 LGAs and 37 LCDAs, as well as the markets that covers the police Barracks and the support is to give succour to the farmers and traders and improve the Agriculture ecosystem and boost food production. It’s to ease the burden of the traders, from the food, to health and transportation.

“This initiative, jointly implemented by the Ministry of Agriculture and local governments, in collaboration with market leaders across all the 57 LGAs and LCDAs is only the first of many to be launched by Mr. Governor towards helping to shoulder the burdens of the citizenry, ranging from food, health, education to transportation.”

The Commissioner said the cash support is targeted at expanding the capacity of the beneficiaries to off-take more produce from the farmers thereby catalysing increased food production in and outside the state.

In her goodwill message, the Iyaloja General of Nigeria, Mrs Folashade Tinubu-Ojo, who appreciated the Governor for convening such an initiative that would ameliorate the well being of the traders in the state, however, urged the traders to use the money judiciously and for the purpose it was meant for.

She stressed that the cash support was meant to augment their business and can as well assist them start a small business that could thrive.

The beneficiaries who were elated by the gesture praised the Governor for such initiative aimed at providing succour to the indigent and vulnerable, particularly the traders who are struggling to survive the current economic hardship.