"Apply Now": Lagos Launches N750 Million Market Money, Opens First Agro-Food Market Hub
- The Lagos state government has launched its version of the Trader Moni scheme
- The state governor, Babajide Sanwo-Olu, unveiled the scheme alongside the first Agro-Food Hub in the state
- The N750 Million Trader Moni is to assist market women and men in the state to access funds to grow their businesses
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The Lagos State government has launched N750 million Lagos Trader Moni to assist market women and men and ensure ease of business.
The state governor, Babajide Sanwo-Olu, who launched the scheme, also opened the first Mid-level Agro-produce Hub in the Idi-Oro area of Mushin.
Source: Original
15,000 to get N50,000 each
While speaking at the hub's opening, the governor said 15,000 beneficiaries would benefit N50,000 each in the first phase of the Lagos State Market Money, with 200 beneficiaries benefitting from each local government in the state.
According to Sanwo-Olu, the agro hub, situated on 6,400 sq.m of land, has adequate car/truck parking area and centralized dry and cold storage systems, giving market players the economies of scale to make decent profits.
He said the hub was part of the food system transformation agenda adopted as a measure to improve the current system inundated by wastage, post-harvest losses, traffic congestion, and other inefficiencies that result in the loss of over 50% of agricultural produce, especially perishables.
Food Hub to provide access to cheap food
Sanwo-Olu stated that the hub" reflects our passionate commitment to boosting food production, processing, and marketing.
In her welcome address, the Commissioner for Agric, Abisola Olusanya, said the project is part of 'Mr Governor's food transformation project.'
She explained that the essence of the hub is to have a storage facility that will make perishable foods durable, adding that it would ensure food security and affordable pricing.
The Iyaloja of Mushin, Alhaja Taibat Borokini, expressed delight over the gesture, saying it would go a long way in addressing the challenges faced by market men and women.
A step-by-step guide to applying for FG’s presidential conditional grant scheme, deadline in 6 days
Legit.ng reported that the Nigerian government recently announced the takeoff of the Presidential Conditional Grant Scheme to nano businesses across the country as part of the Presidential Palliative Programme.
According to the Nigerian government, the grant sum is about N50,000 per beneficiary and is designed to reach one million petty businesses nationwide in all 774 local government areas.
In an earlier report by Legit.ng, the Nigerian government earmarked N150 billion for nano businesses and the manufacturing sector across the country.
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Source: Legit.ng
