Lagos state Governor, Babajide Sanwo-Olu has cautioned against hoarding and unnecessary increase in the prices of food items in the state.
According to him, hoarding and unnecessary increase in prices of food items will only aggravate the food challenges currently ravaging the state and the nation at large.
The Governor made this call at the launching of the Lagos Market Trader Money held at Blue Roof on Agidingbi in Ikeja.
Speaking at the event on Wednesday, 14 February, 2024, Governor Sanwo-Olu described the launching of the Market Trader Money as in fulfilment of promise made two months ago during the flagging off of the Agro Food Hub in Mushin area of the state.
Sanwo-Olu noted that the initiative was to foster economic growth and sustainable livelihood for traders across the state.
He said that Lagos with growing population has potentials of N6 trillion food exchange annually .
According to him, the Market Trader Money will guarantee food safety, availability and affordability.
He also disclosed that the first Food Logistics Hub in West Africa in Ketu would be delivered soon adding that additional three food hub across the State are nearing completion.
Sanwo-Olu explained that Nigerians from all the geo political zones will benefit from the initiative noting 75% were allocated to women while remaining 25 to men
He believed that the goal of transforming Food system value chains and security is progressing in the state.
In his goodwill message to the event, the Oba of Lagos, Oba Rilwan Akiolu charged the beneficiaries to invest the money as expected to boost their trade.
Also speaking, the Iyaloja General, Mrs Folashade Tinubu-Ojo commended the Governor for keeping to his pledge of supporting the traders in the state.
She urged all the entire market leaders in the state to ensure judicious use of the gesture and not to divert it
Folashade Tinubu-Ojo believed the money will multiply and yield more value if well deployed.
On her part, the state Commissioner for Agriculture, Ms Abisola Olusanya, said the initiative was to strengthen the economic lives of market men and women the state.
She said that the initiative will ensure that the traders are financially empowered and translate into positive effects on the economy of the state.
The first in the history of the state, the Commissioner disclosed that it will benefit 15,000 traders at N50,000 each including those in the police and military barracks.
According to Olusanya, the Lagos Market Trader Money will further boost food production and distribution across the state in the Local Governments and LCDAs to cushion the effects of rising food costs.
She said the programme coincided with the Valentine Day for the Governor to show love to the market women and men across the state.
Olusanya thanked the Council Chairmen for mobilizing their traders for the success of the exercise
The National Chairman of ALGON, Hon Kolade Alabi thanked the Governor for the programme saying the grassroots will benefit immensely from it.
He promised that the council chairmen in the state will deliberate on how to compliment the gesture by the Governor.
Kolade Alabi who is also the Chairman of Bariga LCDA said that what the residents deserve now is financial support.
