By Ayomide Otitoju
The Lagos State Government on Wednesday presented provisional letters of allocation to the first batch of 180 beneficiaries affected by the redevelopment of Alaba Transnational Market along the Lagos-Badagry Expressway in Ojo Local Government Area.
The letters, approved by Governor Babajide Sanwo-Olu, were handed over to the traders during a ceremony held at the Lagos State Building Control Agency (LASBCA) headquarters in Ikeja.
Speaking at the event, the Special Adviser to the Governor on e-GIS and Urban Development, Dr. Olajide Babatunde, said beneficiaries would receive their letters of allocation upon payment of 25 per cent of the shop cost. He added that traders who make a 50 per cent down payment would reduce interest-related risks, with the outstanding balance payable within six months.
Dr. Babatunde described the initiative as part of the state government’s urban regeneration drive aimed at transforming Alaba Rago Market into a modern, internationally compliant trading hub with improved facilities. He assured traders that the government would review the market’s development plan and construct a motorable access road to ease movement within the area.
He reiterated the government’s commitment to collaborating with conventional banks and private sector partners to ensure a seamless process, noting that the Alaba Transnational Market is being developed to world-class standards. He also urged traders to maintain environmental sanitation and desist from roadside trading.
According to him, the completed project will feature about 3,000 shops. He added that the state is currently developing 21 markets across Lagos under the THEMES+ agenda, including Alaba Rago, Katangua, Peluwura and Jankara markets.
“It is another beautiful day in Lagos as we continue to deliver on our promises as part of the dividends of democracy. The Sanwo-Olu administration is developing 21 markets across the state,” Babatunde said.
Speaking on behalf of the traders, the Chairman of the Central Committee of Alaba Rago Market, Alhaji Mohammed Lajawa, commended Governor Sanwo-Olu for fulfilling his promise to redevelop and allocate the shops.
He also expressed appreciation to the Ministry of Urban Development for its support in transforming the market to international standards and appealed for the timely completion of the access road to facilitate the movement of goods into the newly allocated shops.
