Governor Babajide Sanwo-Olu says 15,000 traders will benefit from the N750 million Lagos Market Transfer Money programme in 20 local governments and 37 local council development areas.

Mr Sanwo-Olu said this on Sunday at the inauguration of Fresh Food Agro-Hub in Idi-Oro Market, Mushin LGA.

The Fresh Food Agro-Hub, Mushin, is the first in the state to mitigate post-harvest losses, inflation, and traffic congestion and reduce carbon footprint emissions.

The governor said the first 15,000 beneficiaries of the programme would receive N50,000 each as palliatives to cushion the effect of fuel subsidy removal.

According to him, each local government area will send 200 beneficiaries each, while an additional 50 will come from market leaders – Iyalojas and Babalojas across Lagos.

“We are launching here today what we call the Lagos Market Trader Money. As a measure of where we are, the first 15,000 market beneficiaries are going to be getting support of N50,000 from the government,” Mr Sanwo-Olu said.

The governor added, “How it is going to work is that we are not going to pick these beneficiaries from the big markets. Each local government will submit 200 names that will be divided among 10 markets. This means from 10 markets will identify 20 beneficiaries each. 

“We are going to give the ‘iyalojas’ and the ‘babalojas’ an additional 50 slots for them to further identify beneficiaries. This is going to bring to a total of 250 beneficiaries from every local government, and that will give us a total of 14,250. We will distribute the remaining 750 amongst them, and it will bring us all our beneficiaries.”

Mr Sanwo-olu told the market leaders at the gathering that he had fulfilled the promise made to the traders during their meeting, explaining that when he held a meeting with the market leaders, he promised them 5,700 beneficiaries, but now he has increased it to 15,000 beneficiaries.

“The first 15,000 would be the first attempt to ensure that the palliatives that Mr President, Bola Tinubu is talking about, the palliative that the market men and women have been clamouring for, we can give it to them. You can imagine somebody that is selling fruits,” the governor stressed.

He disclosed that the total sale of what “is in the store is about N40,000 if N50,000 additional that we are going to give will immediately increase the amount that is available for that market woman to be able to have the means.”

Mr Sanwo-Olu said that the commissioner for agriculture, Abisola Olusanya, would handle all the logistics and the local government chairs.

He added that the government had made arrangements for the funds and would commence immediately, adding that they would be paid to beneficiaries before December 31.

(NAN)