Governor Sanwo-Olu Launches N750 Million Trader Money Initiative in Lagos

Governor Babajide Sanwo-Olu has initiated a trader money program in Lagos, allocating N750 million to support businesses of men and women in the state.

Gatekeepers News reports that the announcement, made during the inauguration of the Mushin Idi-Oro food Agro-hub, fulfills the governor’s promise to traders and is set to commence before the end of 2023.

Sanwo-Olu said 15,000 traders will be given 50,000 naira each to support their businesses.

According to him, 200 traders will be selected from each local government area of the state to ensure that the 750 million naira cut across all traders irrespective of their location.

The state Commissioner for Agriculture, Abisola Olusanya, said the Agro-hub model will be replicated across the five divisions of Lagos, providing modern market spaces and addressing challenges like post-harvest losses, inflation, and traffic congestion.

The initiative aligns with the state government’s commitment to achieving the food systems Agenda under the T.H.E.M.E.S Plus Agenda.