Lagos State Governor, Babajide Sanwo-Olu, has warned against hoarding and unwarranted price hikes of food items, emphasizing that it could worsen the existing food challenges in the state and the nation.
Speaking at the launch of the Lagos Market Trader Money at Blue Roof in Ikeja, the Governor reiterated the initiative’s role in promoting economic growth and sustainable livelihood for traders.
Sanwo-Olu highlighted the potential for a 6 trillion Naira annual food exchange in Lagos due to its growing population.
The Market Trader Money, he assured, aims to ensure food safety, availability, and affordability.
Additionally, he announced the upcoming delivery of the first Food Logistics Hub in West Africa in Ketu and the nearing completion of three more Food Hubs across the state.
The Governor disclosed that 75% of the beneficiaries were women, emphasising progress in transforming the state’s food system value chains and security. Oba Rilwan Akiolu and Mrs Folashade Tinubu-Ojo commended the Governor for supporting traders, urging judicious use of the funds.
The Commissioner for Agriculture, Ms Abisola Olusanya, emphasised the initiative’s goal to strengthen the economic lives of market men and women, foreseeing positive effects on the state’s economy.
The Commissioner announced that 15,000 traders, including those in police and military barracks, would benefit from the historic Lagos Market Trader Money program.
It aligns with Valentine’s Day, symbolising the Governor’s love for market women and men. Olusanya thanked Council Chairmen for their support, while Hon Kolade Alabi of ALGON expressed gratitude and promised deliberation on further support for the grassroots.
As Chairman of Bariga LCDA, he stressed that financial assistance is what residents need now.
