Alaba Market shop allocation: Lagos government issues provisional letters to 180 traders amid ongoing redevelopment and urban regeneration plans

The Lagos State Government on Wednesday presented provisional letters of allocation to 180 traders affected by the ongoing redevelopment of Alaba Transnational Market along the Lagos-Badagry Expressway in Ojo Local Government Area.

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The presentation, approved by Governor Babajide Sanwo-Olu, took place at the Lagos State Building Control Agency headquarters in Ikeja, where beneficiaries received their allocation documents.

Speaking at the event, the Special Adviser to the Governor on e-GIS and Urban Development, Olajide Babatunde, explained the payment structure required for traders to secure full allocation.

Beneficiaries will receive formal letters of allocation after paying at least 25 per cent of the shop cost, while a 50 per cent down payment would reduce exposure to interest charges, with the balance payable within six months.

Olajide Babatunde described the allocation process as part of the state’s broader urban regeneration efforts.

He noted that the redevelopment aims to deliver modern facilities and improved trading conditions, while addressing infrastructure concerns such as road accessibility within the market.

“The Lagos State Government will look at the development plan of the market and build the access road to make it motorable,” he said.

The adviser also disclosed that the Alaba Transnational Market, when fully completed, will contain approximately 3,000 shops.

He added that Lagos State is currently developing multiple markets under the THEMES+ agenda, including Alaba Rago, Katangua, Peluwura, and Jankara.

Speaking on behalf of the traders, the Chairman of the Central Committee of Alaba Rago Market, Alhaji Mohammed Lajawa, commended the government for proceeding with the allocation process.

He appealed for the timely completion of the market’s access road to facilitate the smooth movement of goods and expressed optimism that the redevelopment would enhance business activities once finished.

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The allocation marks a significant milestone in Lagos State’s efforts to modernise its trading hubs while supporting traders affected by redevelopment projects.