EKO NEWS
Lagos State Launches N750 Million “Market Trader Money” Scheme to Empower Small-Scale Traders
Eko Hot Blog reports that in a bid to boost economic activities within food markets and fulfill promises to market men and women, Lagos State initiated the distribution of a N750 million financial intervention scheme named “Lagos Market Trader Money.”
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The scheme, flagged off by the Lagos State Government, targets 15,000 beneficiaries, each receiving N50,000.
The beneficiaries were drawn from all six geopolitical zones of Nigeria but are exclusively residents of Lagos.
This strategic move aligns with the administration’s THEMES+ developmental agenda, focusing on essential sectors for comprehensive growth and development.
The primary goal of the financial intervention scheme is to empower small-scale traders in the food systems by providing them with crucial financial support.
This support aims to facilitate the expansion of their businesses, fostering economic growth and improving livelihoods across the state.
The initiative, labeled as a stop-gap measure, addresses the immediate needs of market traders, acknowledging their vital role in the economic landscape.
A noteworthy aspect of the scheme is its commitment to social inclusiveness, as 75% of the beneficiaries are women, highlighting the importance of gender equity in implementing such initiatives.
By empowering women in the market space, the program recognizes their significant contribution to economic activities and aims to enhance their economic independence.
As the distribution of funds progresses, it is anticipated that the “Lagos Market Trader Money” scheme will have a tangible impact on the economic landscape, creating opportunities for small-scale traders to thrive and contribute actively to the overall development of the state.
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The administration remains steadfast in its commitment to uplifting various sectors through targeted and inclusive interventions.
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