Lagos State Governor, Mr. Babajide Sanwo-Olu, on Monday inaugurated the newly constituted Lagos State Market Advisory Council (LASMAC), urging members to promote integrity, security, and innovation in market operations across the state.
The 21-member Council, chaired by the Iyaloja-General, Chief (Mrs) Folashade Tinubu-Ojo, was sworn in at the Lagos House in Ikeja, where the Governor tasked them with creating a conducive environment for business, enhancing fair trade practices, and supporting the livelihoods of millions of Lagosians.
Governor Sanwo-Olu described markets as more than just commercial spaces, calling them “lively hubs of culture, innovation, and social connection” that form the economic backbone of communities.
He emphasised that the development and efficiency of markets are vital to Lagos State’s prosperity and reiterated his administration’s dedication to supporting traders through enabling policies, modern infrastructure, and capacity-building initiatives.
“Our markets are at the heart of Lagos’ economy. LASMAC plays a crucial role by bringing together market leaders, traders, and government representatives to ensure inclusive governance,” he said.
“We are committed to supporting you with thoughtful policies and infrastructure that reflect our shared vision of safe, clean, and efficient trading spaces. I urge you all to be transparent, proactive, and inclusive in your approach.”
Governor Sanwo-Olu also warned traders against engaging in unethical practices, stressing the importance of integrity in market operations for long-term economic growth.
Commissioner for Local Government, Chieftaincy Affairs and Rural Development, Mr. Bolaji Robert, hailed the Council’s inauguration as a significant step toward the continuous economic development of Lagos.
He noted that LASMAC is backed by enabling bye-laws and comprised of individuals selected for their expertise and passion for market advancement.
In her remarks, Chief Folashade Tinubu-Ojo expressed appreciation to the State Government for its unwavering support and assured that the Council would fulfil its mandate of bridging the gap between traders and government.
She pledged the Council’s commitment to ensuring that the voices of traders are heard and their interests represented in shaping policies that affect market operations.
With the launch of LASMAC, the Sanwo-Olu administration reinforces its vision of modernising markets to reflect the resilient and entrepreneurial spirit of Lagos.
