Lagos allocates 180 shops at redeveloped Alaba Rago market

By Lukman Olabiyi

The Lagos State Government has allocated 180 shops to beneficiaries at the redeveloped Alaba Rago Transnational Market in Ojo Local Government Area, marking a significant step in the state’s drive to modernise markets and boost commercial activities.

Presenting the allocation letters at the office of the Lagos State Building Control Agency (LABSCA), the Special Adviser to Governor Babajide Sanwo-Olu on e-GIS and Urban Renewal, Dr Olajide Babatunde, said former shop owners were given the first right of refusal and are among the beneficiaries.

He explained that the state granted a concession allowing beneficiaries to pay 60 percent of the shop cost upfront, with the balance spread over six months.

According to him, those unable to meet the 60 percent initial payment may be allowed to pay 25 percent, although he advised traders to opt for the higher deposit to ease the repayment process.

Babatunde disclosed that the project was executed in partnership with financial institutions, noting that the development aligns with Governor Sanwo-Olu’s campaign promises and the THEMES Plus agenda.

“We are keeping all the promises which form part of the dividends of democracy. Under the THEMES Plus agenda, we are developing 21 markets across Lagos, including Alaba Rago, Katangua, Pelewura, and Jankara, among others,” he said.

Describing Alaba Rago as formerly the largest cattle market in West Africa, Babatunde said the facility has now been transformed into a modern transnational market.

He added that the government plans to build about 3,000 market stalls within the complex and has already constructed a 1.2-kilometre access road linking the market to the main highway.

He further revealed that shops on the ground floor are priced at N13 million each, while those on the upper floor cost N10 million, stressing that the rates are subsidised by the state government.

The Special Adviser also commended agencies and institutions that partnered with the government to deliver the project, including LABSCA, the Lagos State Urban Renewal Agency, United Bank for Africa, the Debt Management Office, the Ministry of Finance, and the Office of the Accountant General.

Speaking on behalf of the beneficiaries, Chairman of the Central Alaba Rago Market, Alhaji Hussain Mohammed Lajawa, praised the state government for transforming the market into a modern trading hub.

He recalled that discussions on redeveloping the market began in 2022 and expressed satisfaction that the government fulfilled its promise.

“As of today, three blocks have been completed and allocated to 180 traders,” Lajawa said.