SANWO-OLU FLAGS OFF LAGOS MARKET TRADER MONEY, DISTRIBUTES N750M TO 15,000 BENEFICIARIES | Nigeria Updates- Breaking News, Nigerian News, Politics, Sports, Entertainment and Business - Nigeriaupdates.com Nigeria Updates
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SANWO-OLU FLAGS OFF LAGOS MARKET TRADER MONEY, DISTRIBUTES N750M TO 15,000 BENEFICIARIES

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•Says initiative will stimulate economic activities in food markets

 

 

 

In fulfilment of his promise and demonstration of love to market men and women on Valentine’s Day, Lagos State Governor, Mr Babajide Sanwo-Olu, on Wednesday, flagged off the distribution of N750million financial intervention scheme tagged “Lagos Market Trader Money” for 15,000 beneficiaries.

 

The 15,000 beneficiaries, who received N50,000 each, were drawn from across all the six geo-political zones of Nigeria – South-West, South-East, South-South, North-Central, North-West and North East, but are all residents of Lagos.

 

Speaking during the launch of the Lagos Market Trader Money held at De Blue Roof, Agidingbi, Ikeja, Governor Sanwo-Olu said the gesture will go a long way to actualise his goal of transforming the food systems in Lagos State and stimulate economic activities in various food markets in line with his administration’s THEMES+ developmental agenda.

 

It would be recalled that Governor Sanwo-Olu during the commissioning of the Mid-Level Agro produce Hub, Idi-Oro, Mushin on Sunday, December 17, 2023, announced a N750million financial intervention scheme for Lagos traders tagged “Lagos Market Trader Money” for 15,000 traders across the State.

 

Governor Sanwo-Olu fulfilled his promise in less than 60 days as 250 traders from each of 20 local governments and 37 Local Development Council Areas (LCDAs), as well as 750 beneficiaries identified from markets within the barracks and military formations across the State, on Wednesday, received N50,000 each.

 

Sanwo-Olu implored the beneficiaries of the Lagos Market Trader Money to make the best and judicious use of the grant in ways that will contribute to the economic development of the State..

 

“I urge you to let the citizens of Lagos feel the impact of this grant and all the other support that this administration has been providing towards ensuring food security, through reasonable reduction in the cost of basic food items in a way that it will be affordable to ordinary Lagosians,” he said.

 

Governor Sanwo-Olu said the initiative was conceptualized as a stop-gap measure of the Lagos State Government to empower small-scale traders in the Food Systems by providing them financial support to expand their businesses thereby fostering economic growth and improving the lives of many within the State.

 

He said: “This will ensure sustainable livelihoods and facilitate business expansion for 15,000 traders who occupy a strategic position in the State’s economic pyramid and food distribution network.

 

“Lagos State, which has a growing population presently estimated at over 24 million has a food system transaction value of over N6trillion annually, is in the process of establishing a dynamic food market system under the Food Systems Transformation Agenda to promote the preservation, storage, transportation and presentation of wholesome food to the populace, with the aim of reducing food waste, improve affordability, guarantee food safety, quality and accessibility.

 

“This initiative led to the implementation of key projects such as the establishment of the Lagos Central Food Security System and Logistics Hub, Ketu-Ereyun, Epe and the Mid-Level Agro Produce Hub, Idi-Oro, Mushin. As a mark of our resolve to follow through with the Agenda, work has commenced on three additional Mid-Level Agro-Produce Hubs at Sangotedo, Agege, and Abule-Ado, while the first phase of the Lagos Central Food Security System and Logistics Hub will be commissioned by December 2024.”

 

Speaking on how the 15,000 traders were selected for the Lagos Market Trader Money, Governor Sanwo-Olu disclosed that “The beneficiaries were identified by the State’s Agricultural Field Officers serving each LGA/LCDA in collaboration with the Iyaloja/Babaloja General and Market Masters of each Local Government/Local Council Development Area across the State.

 

“The beneficiaries were selected through a methodical process targeted at 200 beneficiaries from markets in each LGA/LCDA in addition to 50 beneficiaries that were selected by the Iyaloja/Babaloja General in each LGA/LCDA making a total of 14,250 market traders.

 

“Also, 750 beneficiaries were identified from markets within the Barracks and Military formations across the State in collaboration with their respective Iyaloja/Babaloja. This brings the total number of beneficiaries to 15,000.

 

“To ensure fairness in the selection process while demonstrating the spirit of Lagos as being home to all, the beneficiaries were drawn from across all the geopolitical zones of the Nation with 11,039 from the South-West, 914 from the South-East, 868 from the South-South, 1,710 from North- Central, 373 from the North-West and 107 from the North-East.”

 

Governor Sanwo-Olu also noted that 75 percent of the beneficiaries are women while the remaining 25 percent are men, adding that 35 percent of the beneficiaries are below 40 years while 65 percent are above 40 years. He said this goes to show the social inclusiveness in implementing the initiative.

 

Speaking earlier, Lagos State Commissioner for Agriculture, Ms. Abisola Olusanya, said the Lagos Market Trader Money initiative is part of the government’s efforts towards ensuring sustainable livelihoods and wealth creation for traders across the State.

 

She said: “This initiative is part of the State Government’s commitment to the development of the downstream segment of food and agricultural value chains which centers on markets and market access. This is due to the fact that Lagos is the largest market city-state in sub-Saharan Africa.

 

“The support that would be extended today is targeted at expanding the capacity of the beneficiaries to off-take more produce from our farmers thereby catalysing increased food production in and outside the State.

 

“This Initiative, jointly implemented by the Ministry of Agriculture and Local Governments, in collaboration with market leaders across all the 57 LGAs and LCDAs is only the first of many to be launched by Mr. Governor towards helping to shoulder the burdens of the citizenry, ranging from food, health, education to transportation.”

 

Also speaking, the Iyaloja-General of Nigeria, Chief (Mrs.) Folasade Tinubu-Ojo appreciated Governor Sanwo-Olu for the good gestures to market men and women in Lagos State.

She enjoined traders, who are beneficiaries of the Lagos Market Trader Money to make good use of the N50,000 given to them to augment their businesses.

Nigeria News

FG begins demolition of Landmark Beach for Lagos-Calabar highway project

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Dave Umahi, The Minister of Works, on Saturday in Lagos, flagged off the demolition of a section of the Landmark Beach, the Mami Chula Beach Lifestyle, to give way to the Lagos-Calabar Coastal Highway.

Umahi began the demolition after he inspected kilometres 13, 16 and 20 to ensure the most economical and viable way to access the coastal roads without much damage.

He noted that the demolition was necessary since the landmark centre was on the federal government’s Right-of-way.

The minister stressed that several structures would be affected by the demolition, adding that compensation would be provided.

Mr Umahi said, “So with the utmost fear of God, gratitude to God Almighty and the commitment to President Bola Tinubu’s Renewed Hope Agenda in our infrastructural development agenda in particular, I wish to flag off this demolition.

”It’s in a right-of-way within the coastal corridor, which is the legitimate right-of-way of the federal government.

“Before the flag-off of the landmark’s demolition, I graciously increased the grace period by another seven days and yet another four days, and here we are because the project stopped because of a lack of demolition.”

The minister acknowledged that some people opposed the project and insisted it was necessary for economic development.

He assured those affected by the demolition that they would be adequately compensated and added that documentation would start between May 2 and 3.

Mr Umahi also assured that he would be available throughout the week to address any confirmation or payment issues related to the demolition.

Responding, the chief executive officer of Mami Chula Beach, Bolaji Ariyo, acknowledged the project’s necessity for development, even when it causes inconvenience for a small number of people.

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Yahaya Bello: American Int’l School Explains Refund of Fees to EFCC

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The American International School Abuja (AISA) yesterday provided additional information and context to clarify the issues around its decision to refund the school fees paid by former Kogi State Governor, Yahaya Bello, to the Economic and Financial Crimes Commission (EFCC).

The Head of School, Greg Hughes, said the school actually turned in the funds in compliance with the commission’s request and denied any wrongdoing.

He also reaffirmed the institution’s commitment to upholding institutional integrity and respect for institutions in the country.

Hughes said: “Our compliance to remit these funds underscores our commitment to upholding institutional integrity and our respect for the national institutions of Nigeria.

“Upon learning that the school fees we accepted in good faith were, in fact, part of an ongoing case with the EFCC, we turned over these funds in compliance with this federal commission’s request.”

Citing the subjudice status of the issue as a result of the ongoing case between the EFCC and Bello, the school averred that “we will refrain from making any further comments at this time.”

The statement dated April 26, 2024, read: “Recent media reports have highlighted issues between the Economic Financial Crimes Commission (EFCC), AISA and a family with children enrolled at the school, stemming from an investigation carried out in 2022.

“As a school, we did accept an advance payment for school fees, and duly documented these fees in our records.

“Upon learning that the school fees we accepted in good faith were, in fact, part of an ongoing case with the EFCC, we turned over these funds in compliance with this federal commission’s request…”

It added: “At no point has the school been accused of any wrongdoing about this case, and we are cooperating fully with the EFCC to address matters currently before the courts.

“As these legal matters are being resolved within the Nigerian judicial system and involve one of our families, we will refrain from making any further comments at this time.

“As an institution, we remain committed to providing excellent service to our school community in line with our core values, vision and mission,” the statement explained.

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Otu inaugurates 50,000-hectare rice farming initiative

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Prince Bassey Otu, Cross River governor, has initiated a large-scale rice project, spanning 50,000 hectares.

The endeavour is supported by a credit scheme, which sees the state allocating a whooping N150 million monthly, towards agricultural development initiatives.

The ceremony marking the commencement of the project took place in Ndok community, Ogoja local government area of Cross River, weekend.

Otu, at the event, affirmed his administration’s readiness to revolutionise the agricultural sector.

He stressed the need for a direct collaboration with rice farmers to meet the cultivation of the extensive 50,000 hectares.

“We are engaging with groups of farmers as part of our agricultural revolution, focusing initially on short-term cash crops like rice, cocoa, and cassava.

“We are also progressing towards the development of oil palm and rubber plantations,” the governor remarked.

Continuing, Otu said, “we are committed to working along with every farmer while ensuring the provision of essential resources and I extend this assurance to the traditional leaders based on our long-term commitment to this course.”

On a credit-guarantee scheme established to facilitate financial assistance for dedicated farmers, Otu encouraged individuals to seize the opportunity in order to enhance productivity, emphasising the need for proactive engagement in agriculture.

He charged the citizenry to take advantage of the numerous resources in the state to remain proactive while help in turning Cross River into an industrial hub.

Earlier, Commissioner for Agriculture and Irrigation, Johnson Ebokpo Jnr, informed of government’s strategic approach to agricultural development, explaining the various policies put in place to attract private sector investments, while making agriculture the cornerstone of the state’s economy.

Ebokpo said: “Significant investments have been made in acquiring new tractors to enhance mechanisation efforts. The tractors, being distributed across the local government areas in Cross River will be managed by cooperatives, comprising men and women.”

According to the Agric Commissioner, “the initiative aims to empower the youths while supporting small-holder farmers in scaling up their operations.”

Chairman, Cross River Rice Farmers Association, Emmanuel Anoh, projected a minimum rice yield of 6 tonnes per hectare, translating to 140 bags of 50kg rice per hectare, hinting that the significant increase in production capacity was poised to transform the food industry in Nigeria.

Anoh also applauded government’s agricultural initiatives as he expressed hope that the result would tremendously benefit the populace and boost the sector.

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