In the words of the Lagos State Commissioner of Wealth Creation and Employment, “The Eko Token Initiative connects the economic prosperity of the businesses in Lagos State to the betterment of the personal economies of Lagos State Residents.

The Eko Token was officially launched on the 3rd of November 2021 by the Lagos State Government under the Ministry of Wealth Creation and Employment. As a result of the fallout of the pandemic, the economy of the country and Lagos State as well has been largely impacted. Unemployment and poverty have surged. The Lagos State government became the 1st state government in Africa to establish a Universal Patronage Cash reward for its residents, this was predicated upon the need to creatively impact the lives of Lagos people. 

The core objectives of this initiative is as follows;

• Acceleration of growth of Lagos businesses through increased patronage
• Improvement of personal economies of the good people of Lagos
• Development of unprecedented public emotional equity that will foster a more peaceful and prosperous Lagos State.
• Develop a tripod relationship between the good people of Lagos, Lagos businesses and the government. An era of wealth redistribution has begun in Lagos State.