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 allocation letters, approved by Governor Babajide Sanwo-Olu, were personally received by the traders at a ceremony held at the headquarters of the Lagos State Building Control Agency (LASBCA) in Ikeja.
Speaking at the event, the Special Adviser to the Governor on e-GIS and Urban Development, Dr. Olajide Babatunde, explained that beneficiaries would receive their letters of allocation upon payment of at least 25 per cent of the cost of their shops. He added that a 50 per cent down payment would significantly reduce exposure to interest, while the outstanding balance could be spread over a six-month period.
Dr. Babatunde described the initiative as part of the state government’s broader urban regeneration strategy aimed at transforming Alaba Rago Market into a modern commercial hub with facilities that meet international standards.
He assured traders that government would review the development plan to ensure the construction of a motorable access road into the market, facilitating ease of movement for goods and customers.
Reiterating government’s commitment to a seamless redevelopment process, Babatunde disclosed that the state is collaborating with conventional banks and private sector partners to deliver the project efficiently. He urged traders to maintain environmental sanitation within the market and desist from roadside trading.
According to him, the completed Alaba Transnational Market will comprise approximately 3,000 shops. He further revealed that the state government is currently developing 21 markets and other infrastructure projects across Lagos.
“It is another beautiful day in Lagos as we continue to fulfil our promises, which are part of the dividends of democracy. Under the THEMES+ agenda of Governor Sanwo-Olu, 21 markets are being developed across the state, including Alaba Rago, Katangua, Peluwura and Jankara, among others,” he said.
Speaking on behalf of the beneficiaries, the Chairman of the Central Committee of Alaba Rago Market, Alhaji Mohammed Lajawa, commended Governor Sanwo-Olu for delivering on his promise to hand over the redeveloped shops.
Lajawa also expressed appreciation to the Ministry of Urban Development for its support in transforming the market into a facility that meets modern standards. He, however, appealed for the timely completion of the access road to enable traders to move their goods into the newly allocated shops without difficulty.
