In line with Governor Babajide Sanwo-Olu’s vision of making Lagos a 21st-century economy, the Lagos State Government on Wednesday handed over provisional letters of allocation to 180 initial beneficiaries of the redeveloped Alaba Transnational Market along the Lagos-Badagry Expressway in Ojo Local Government Area.
The letters, approved by Governor Sanwo-Olu, were personally received by traders during a ceremony held at the Lagos State Building Control Agency (LASBCA) headquarters in Ikeja.
Dr. Olajide Babatunde, Special Adviser to the Governor on e-GIS and Urban Development, explained that traders would receive the letters of allocation upon payment of up to 25% of the shop cost. He added that a 50% down payment would reduce interest-related risks, with the balance payable over six months.
Dr. Babatunde said the initiative forms part of the state government’s broader effort to regenerate Alaba Rago Market to international standards with modern facilities. He also assured traders that an access road would be constructed to ease movement into the market.
He emphasized that the state government is collaborating with conventional banks and private sector partners to ensure a smooth process, noting that the completed Alaba Transnational Market will host 3,000 shops. Currently, Lagos is developing 21 markets under Governor Sanwo-Olu’s THEMES+ agenda, including Katangua, Peluwura, and Jankara markets.
Alhaji Mohammed Lajawa, Chairman of the Central Committee of Alaba Rago Market, praised Governor Sanwo-Olu for fulfilling his promise and transforming the market to meet international standards. He called for the speedy completion of the access road to facilitate the movement of goods into the newly allocated shops.
