Lagos State government on Wednesday handed over provisional letters of allocation to the initial 180 beneficiaries affected by the redevelopment of Alaba Transnational Market, along the Lagos-Badagry Expressway in the Ojo local government area.
The action was said to be in line with Governor Babajide Sanwo-Olu’s commitment to urban development and making Lagos a 21st-century economy.
The provisional letters of allocation approved by Governor Sanwo-Olu were received personally by the traders during a ceremony held at the Lagos State Building Control Agency, LASBCA, headquarters in Ikeja.
Speaking during the event, the Special Adviser to the Governor on e-GIS and Urban Development, Dr. Olajide Babatunde, disclosed that when traders paid up to 25 per cent of the shop cost, their letters of allocation would be given to them.
He also noted that a down payment of 50 per cent would reduce risks of interest, with the balance payable over a six-month period.
Babatunde described the steps taken as part of the regeneration efforts of the Lagos State government in transforming the Alaba Rago Market to international standards with modern facilities.
He also assured the traders that the Lagos State government would look at the development plan of the market and build the access road to make it motorable.
Babatunde restated the commitment of the state government to partnering with a conventional bank and other private sectors to achieve a seamless process, as the Alaba Transnational Market had been developed into the world-class standard.
He urged traders to keep the environment clean and shun roadside trading.
He disclosed that the Alaba Transnational Market, when completed, would consist of a total of 3,000 shops, stating that the Lagos State government was at the moment developing 21 markets, among other infrastructure, across the state.
“It is another beautiful day in Lagos where we are keeping all the promises, which are part of the dividends of democracy. Governor Sanwo-Olu administration under the THEMES+ agenda, are developing 21 markets around Lagos, some of which are Alaba Rago, Katangua, Peluwura, Jankara and couple of others around the city,” he said.
Speaking on behalf of the traders, the Chairman of the Central Committee of Alaba Rago Market, Alhaji Mohammed Lajawa, commended Governor Babajide Sanwo-Olu for fulfilling his promise of handing over the redeveloped shops to them.
Lajawa also appreciated the Lagos State government through the Ministry of Urban Development for its support, which had transformed the Alaba Rago Market to meet international standards.
He appealed for speedy completion of the access road into the market to enable them to move their goods into the allocated shops.
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