The Lagos State Ministry of Economic Planning and Budget, through its Social Protection Coordinating Department, has facilitated the disbursement of N100,000.00 (One Hundred Thousand Naira) cash grants provided by the United Nations Development Programme (UNDP) to some nano and petty traders in the State.
The Commissioner for Economic Planning and Budget, Ope George, revealed this at a recent Press Briefing held at the Ministry.
He said that the disbursement, aligned with the Governor THEMES Plus agenda, began on April 11, 2024, benefiting traders across the 57 Local Government and Local Council Development Areas.
George explained that the initiative aims to offer enhanced working capital and business support to nano and petty traders registered under the Social Protection Policy in the State.
He said, “The sum of N100,000:00 each has been issued directly to households’ bank accounts, representing N107,000,000.00 injected into the state as Foreign Direct Inflow (FDI) by UNDP with resultant effect on consumption smoothing and inclusive economic growth.
“According to the Data available, the spread of the beneficiaries are Agege 48, Ajeromi-Ifelodun 52, Alimosho 53, Amuwo-Odofin 41, Apapa 71, Badagry 60, Epe 66, Eti-Osa 64, Ibeju-Lekki 67 and Ifako-Ijaye 42. Others are Ikeja 59, Ikorodu 58, Kosofe, 45, Lagos Island 52, Lagos Mainland 59, Mushin 44, Ojo 60, Oshodi-Isolo 51, Shomolu 52 and Surulere 31”.
He expressed gratitude to UNDP for the generous support on behalf of the State Government, assuring collaboration with the organization to uplift Poor and Vulnerable Households listed on the Lagos State Social Register.
The Commissioner emphasized his confidence that the funds would assist in mitigating the impact of recent socio-economic challenges in the Country and the State in particular.
George urged all beneficiaries to use the funds wisely and responsibly.
