Through its Social Protection Coordinating Department, the Lagos State Ministry of Economic Planning and Budget has assisted in the distribution of a N100,000.00 (one hundred thousand naira) cash grant from the United Nations Development Programme (UNDP) to a few small and nano traders in the State.
At a press conference held at the Ministry, Commissioner for Economic Planning and Budget Ope George recently revealed this.
He also stated that the beneficiaries of the disbursement, which started on April 11, 2024, and span the 57 Local Government and Local Council Development Areas, are in line with the Governor THEMES Plus agenda.
According to George, the intervention’s goal is to give Nano and Petty merchants who are registered with the Social Protection Policy in the State better operating capital and business support.
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 thanked UNDP for the gesture on behalf of the State Government, promising to work with the organisation in uplifting Poor and Vulnerable Households on the Lagos State Social Register.
The Commissioner added that he was very sure that the funds will help the concerned in addressing the effect of the recent socio-economic shocks in the Country and the State in particular. He, therefore, enjoined all beneficiaries to utilise the funds appropriately and judiciously.
