A total of 69 markets and a minimum of 2,512 Micro, Small and Medium, Small Enterprises (MSMEs) will benefit from the Lagos COVID-19 Action Recovery and Economic Stimulus (CARES) initiative launched yesterday by Governor Babajide Sanwo-Olu in Lagos.
The initiative, which is an offshoot of the Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES) Programme, is an integral part of the national approach adopted to alleviate the burden of the COVID-19 pandemic.
Governor Sanwo-Olu said that during the 24-months implementation period, 20,843 households would be directly supported and 125,058 individuals indirectly supported in Lagos State.
He said the programme would encompass three key result areas: increasing cash transfers and livelihood support to poor and vulnerable households; increasing food security and safe functioning of food supply chains for poor households, and; facilitating the recovery of MSMEs, while strengthening institutional support for coordination and delivery.
The governor urged Lagosians to key into the derivable benefits of the Lagos CARES Initiative and give cooperation to the Independent Verification Agents that will be deployed to all neighbourhoods to ensure the success of the programme.
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