Lagos Begins Handover of 180 New Shops at Alaba Transnational Market

The Lagos State Government has commenced the handover of 180 newly completed shops at the Alaba Rago Transnational Market, marking a major milestone in its plan to modernize trading infrastructure across the state.

The project, located in Iba Local Council Development Area, is part of the government’s THEMES Plus agenda and is being delivered through a public-private partnership involving DC Engineering, D-Baccano and financing support from United Bank of Africa (UBA).

Speaking during the presentation of provisional allocation letters to beneficiaries, the Special Adviser on Electronic Geographic Information System (E-GIS), Dr Olajide Babatunde, said the shops represent the first phase of a much larger redevelopment plan aimed at transforming the market into a structured commercial hub.

He explained that the project commenced in November 2024 and includes internal road construction, perimeter fencing and improved security infrastructure to enhance business activities and ease of movement within the market.

Flexible payment structure for traders

Dr Babatunde said traders were allowed to purchase the shops through a flexible instalment arrangement, starting with a minimum payment of 25 per cent, while those who could afford 50 per cent or full payment were encouraged to do so.

According to him, once an initial payment is made, beneficiaries are issued keys to their shops, enabling them to take possession immediately.

He added that some ground-floor shops were priced at N10 million despite construction costs running higher, while upper-floor units were also sold at subsidized rates to ensure affordability.

“These shops have been heavily subsidised by the government to make them accessible to market men and women,” he said, noting that all payments are made into a designated UBA project account to ensure transparency and accountability.

He stressed that the state government was not taking profit from the scheme, urging traders, financiers and market leaders to continue cooperating to ensure the success of the redevelopment.

Market leaders welcome long-awaited upgrade

Chairman of the Alaba Rago Central Committee Association, Husseini Lajawa, described the handover as the fulfilment of a long-standing promise by the Lagos State Government to modernise the market.

He said discussions about redevelopment began in 2022, when market leaders approached the state government, which later invited financial institutions to support contractors executing the project.

“Today, we are seeing the result with three completed blocks allocated to 180 traders,” he said, adding that existing traders were given first consideration in the allocation process.

Also read: Lagos shuts Ladipo auto parts market over environmental violations

Mr Lajawa praised the government for keeping its word and said the project would strengthen commercial activities, improve organisation within the market and enhance its competitiveness as a major trading hub in Lagos.

The broader redevelopment plan includes thousands of shops alongside banking facilities, parking spaces and security posts, positioning the Alaba Transnational Market as one of the state’s most structured and modern trading centres.