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Lagos Market Trader Money: Gov. Sanwo-Olu Distributes N750m to 15,000 Beneficiaries

Lagos State Governor, Mr. Babajide Sanwo-Olu through the ‘Lagos Market Trader Money’ initiative has given out seven hundred and fifty million naira (N750,000 million) to 15,000 beneficiaries in the state.

The governor made this known on his X account, formerly Twitter on Wednesday, stressing that the receivers cuts across the geo-political zones of the country.

Photo Credit: (@jidesanwoolu on X)

“Today, in fulfilment of my promise to market men and women, I flagged off the distribution of the N750million financial intervention scheme tagged “Lagos Market Trader Money” for 15,000 beneficiaries.

“The beneficiaries, who received N50,000 each, were drawn from across all the six geo-political zones of Nigeria, but are all residents of Lagos,” he stated.

Photo Credit: (@jidesanwoolu on X)

According to him, the gesture is aimed at boosting economic activities in the food market as part of the state’s ‘Traffic Management and Transportation, Health and Environment, Education and Technology’ (THEMES) developmental agenda.

The governor further disclosed that the initiative was conceptualized as a stop-gap measure to empower small-scale traders in the ‘Food Systems’ by providing them with financial support to expand their businesses thereby fostering economic growth and improving the lives of many within the State.

He also noted that 75% of the beneficiaries are women, while the remaining 25% are men, adding that it shows the importance of social inclusiveness in implementing the initiative.

Hope Ejairu

Hope Ejairu is a writer, sports analyst and journalist, with publications on print and digital media. He holds certifications in various media/journalism trainings, including AFP.

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