By Chukwuma Umeorah
The leadership of Alaba International Market has appealed to Governor Babajide Sanwo-Olu of Lagos State for government support in addressing the prevailing challenges that are hampering the market’s ability to enhance its contribution to the state’s internally generated revenue. They believe that resolving these issues will not only stimulate trade within the state but also bolster its significance in the national economy.
The President of the Alaba Amalgamated Council of Sectional Heads, Mbonu Geoffrey made this appeal on Monday during the election exercise of a new executives of one of the market sections, Fancy and Furniture.
He stated that Alaba International Market currently contributes several billion annually to the IGR of the state.
He stressed that there is substantial untapped potential, and by addressing the existing challenges, this contribution could be significantly increased. This, in turn, would not only enhance business activities within the state but also render it more appealing to potential new investors.
His words: “Alaba International Market is one of the biggest markets in West Africa. The IGR being generated here is very encouraging and the state and the local government can testify to that. They can attest to that.
Geofrey highlighted the issue of bad roads, unstable power supply and poor state of facilities among others which have impeded smooth running of businesses.
“One of the most pressing issues within the market is the deplorable state of its roads. Potholes and excessive damage to the roads have led to heavy traffic congestion, causing significant time and productivity losses for traders.
“These challenges have adversely affected our operations making us lose time that would have been better spent promoting our business and contributing to the nation’s economy,” he explained.
He called for other basic amenities and services within the market, such as stable electricity and proper waste evacuation services. He stressed that bringing the market up to international standards was essential. This is even as he reiterated his commitment to protecting the interest of traders and businesses and to actively engage with all sectional heads to bridge the gap between the market community and government agencies to address pressing issues.
The newly elected Chairman, Fancy and Furniture, Chukwuma Uche in his address pledged his support to traders by working with other market leaders to find sustainable solutions aimed at improving business operations and increase opportunities.