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Lagos to banish poverty with TraderMoney

Lagos government yesterday launched the Lagos Market Traders Money Initiative, saying it is confident that it will banish poverty in the state.

The State Governor, Babajide  Sanwo-Olu who launched the initiative said  it was the fulfillment of the promise made at the commissioning of the Mid-Level Agro produce Hub, Idi-Oro, Mushin on December 17 last year.

He said: "This initiative was conceptualized as a stop-gap measure of the State Government to empower small-scale traders in the Food Systems by providing them financial support to expand their businesses thereby fostering economic growth and improving lives of many within the State. This will ensure sustainable livelihoods and facilitate businesses expansion for 15,000 traders who occupy a strategic position in the State’s economic pyramid and food distribution network."

According to him, the state, which has a growing population presently estimated at over 24million has a food system transaction value of over N6 trillion annually, is in the process of establishing a dynamic food market system under the Food Systems Transformation Agenda to promote the preservation, storage, transportation and presentation of wholesome food to the populace, with the aim of reducing food waste, improve affordability, guarantee food safety, quality and accessibility.

This, he explained, led to the implementation of key projects such as the establishment of the Lagos Central Food Security System and Logistics Hub, Ketu-Ereyun, Epe and the Mid-Level Agro Produce Hub, Idi-Oro, Mushin. “As a mark of our resolve to follow through with the Agenda, work has commenced on three additional Mid-Level Agro-Produce Hubs at Sangotedo, Agege, and Abule-Ado, while the first phase of the Lagos Central Food Security System and Logistics Hub will be commissioned by December,this year,” Mr Governor said.

He noted that the Lagos Market Trader Money will support 15,000 traders with N50,000.00 each.

The beneficiaries ,he went on were identified by Agricultural Field Officers serving each LGA/LCDA in collaboration with the Iyaloja/Babaloja General and Market Masters of each Local Government/Local Council Development Area across the State.

He said: "The beneficiaries were selected through a methodical process targeted at 200beneficiaries 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 in collaboration with their respective Iyaloja/Babaloja. This brings the total number of beneficiaries to 15,000."

To ensure fairness in the selection process while demonstrating the spirit of Lagos as being home to all, he said beneficiaries were drawn from across all the geopolitical zones of the Nation with 11,039 from the Southwest, 914 from the South East, 868 from the Southsouth, 1,710 from North central, 373 from the Southwest and 107 from the North east. 74per cent  of the beneficiaries are women while the remaining 26per cent  are men, 33.7 per cent of these are below 40 years while 66.3 per cent are above 40 years. This goes to show the social inclusiveness in the implementation of the initiative.'

He believes the gesture will go a long way to actualize the goal of transforming the food systems in the State and stimulate economic activities in our various food markets in line with our administration’s THEMES+ Developmental Agenda.

In her welcome address, the Commissioner for Agriculture,   Ms  Abisola  Olusanya indicated that the

Lagos Market Trader Money Initiative was part of the government’s efforts towards ensuring sustainable livelihoods and wealth creation for traders across the state.

She noted: "This initiative is part of the State Government’s commitment to the development of the downstream segment of food & agricultural value chains which centers on markets and market access. This is due to the fact that Lagos is the largest market city state in sub-saharan Africa."

According to her, at the commissioning of the Mid-level agro food hub at Idi-Oro Mushin on  December, 18,last year, Mr Governor had announced his plans for a more inclusive social-welfare framework for market actors with the first of it being the Lagos Market trader money initiative – a first phase of it being the distribution of N50,000 to 15,000 market men and women across the 57 LGAs and from within the military and police barracks.

She said the support that would be extended is targeted at expanding the capacity of the beneficiaries to off-take more produce from our farmers thereby catalyzing increased food production in and outside the state.

She said: “This Initiative, jointly implemented by the Ministry of Agriculture and Local Governments, in collaboration with market leaders across all the fifty-seven 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."