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Sanwo-Olu Set to Launch N750M Intervention Fund for Lagos Traders

Lagos State Government Clarifies Data-Sharing Agreement with E-Hailing Services Lagos to Launch N750m Intervention Fund for Traders

Governor Babajide Sanwo-Olu of Lagos state is gearing up to unveil the ‘Lagos Market Trader Money’ initiative, a N750 million financial intervention aimed at assisting 15,000 beneficiaries.

The announcement was made by Abisola Olusanya, Lagos State’s Commissioner for Agriculture, during a hygiene sensitization event attended by 500 market traders from Ikeja and Oshodi Local Government Areas. The event took place at the Lagos Fresh Food Hub in Idi-Oro, Mushin.

Olusanya revealed that the launch, scheduled for Valentine’s Day, will see each beneficiary receive N50,000 to bolster their businesses. This gesture, according to her, demonstrates the governor’s commitment to supporting the market community amid economic challenges.

Governor Sanwo-Olu had previously unveiled the initiative during the inauguration of the Mid-level agro-product hub in Mushin.

He emphasized the importance of empowering small businesses, particularly in the wake of economic difficulties.

The scheme, which targets traders from all 57 local councils in the state, aims to cushion the impact of economic challenges and pave the way for improved logistics and modernization of markets.

The disbursement modalities will be coordinated by the Commissioner for Agriculture and local government chairmen in the state.

This Article is Fact-Checked. See Policy.

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