Lagos State Unveils 180 New Shops at Alaba Rago Transnational Market
The Lagos State Government has officially started the handover of 180 newly completed shops at the Alaba Rago Transnational Market. This initiative is part of a broader effort to provide modern trading infrastructure through public-private partnerships. The redevelopment of the market, located in the Iba Local Council Development Area, began in November 2024 as part of the state’s THEMES Plus Agenda.
Dr. Olajide Babatunde, the Special Adviser on Electronic Geographic Information System (E-GIS), announced the development during the presentation of provisional letters of allocation to the beneficiaries on Tuesday. He highlighted that the government is working in collaboration with DC Engineering and D-Baccano, with financial support from United Bank of Africa (UBA).
Babatunde emphasized that the 180 shops represent the first batch of a larger plan to deliver approximately 3,000 modern market stores within the redeveloped market. “We are working towards providing 3,000 market stores at the same price structure. We have completed the first 180 shops in Alaba Transnational Market, and piling is already ongoing for another four blocks,” he said.
Infrastructure Improvements and Payment Options
The redevelopment also includes internal road construction and perimeter fencing to enhance accessibility and security within the market environment. Beneficiaries are allowed to purchase the shops through a flexible installment payment structure, starting with a minimum of 25 per cent.
“If you pay 50 per cent today, you remove the risk of additional financial exposure, and the balance can be spread over six months without interest,” Babatunde explained. Once a beneficiary makes an initial payment of 25 per cent, 50 per cent, or 100 per cent, the keys to the shop are released.
Affordable Pricing and Subsidies
On pricing, the official noted that some ground floor shops are priced at N10 million, despite a construction cost of about N12 million. Upper floor shops are also sold at subsidized rates to ensure affordability for traders. “These shops have been heavily subsidised by the government to make them accessible to market men and women,” he said.
All payments are being made into a designated UBA account for the Alaba Transnational Market project, with officials from relevant banking institutions overseeing the process to ensure transparency. “The state is not taking anything out of this money. All payments go directly into the approved project account for proper accountability,” Babatunde added.
Call for Collaboration
The special adviser urged market leaders, financiers, and traders to sustain collective cooperation to guarantee the success of the redevelopment. “If this market succeeds, it is because all of us have worked together. Let us continue to join hands to make Alaba Transnational Market a pride of Lagos and the biggest livestock market in Lagos,” he said.
Community Response
Also speaking at the event, Mr. Husseini Ahmed Lajawa, Chairman of the Alaba Rago Central Committee Association, described the handover as the fulfillment of a long-standing promise made by the state government to modernize the market. His remarks reflected the community’s hope for continued progress and development in the area.
