The Lagos State Government has officially distributed provisional letters of shop allocation to 180 traders impacted by the ongoing redevelopment of the Alaba Transnational Market in the Ojo Local Government Area. This allocation ceremony took place under the authorization of Governor Babajide Sanwo-Olu at the Lagos State Building Control Agency headquarters in Ikeja, where affected traders received their allocation documents. Governor Sanwo-Olu's initiative aims to provide relief and support to traders as they relocate and adapt to the new market structure during the redevelopment phase.

During the event, Olajide Babatunde, the Special Adviser to the Governor on e-GIS and Urban Development, detailed the payment framework necessary for traders to solidify their shop allocation. Beneficiaries must pay a minimum of 25% of the shop cost to receive formal letters of allocation. Notably, traders who can pay 50% upfront will benefit from reduced interest charges on the balance, which is payable over a six-month period. This financial structure aims to make the transition to the newly redeveloped market more manageable for the traders.

Babatunde emphasized that this allocation is not just a transactional process but part of a larger goal of urban regeneration spearheaded by the Lagos State Government. The redevelopment of the Alaba market is centered on improving market infrastructure, which is vital for the economic activities in the region, thereby supporting local traders while enhancing commercial opportunities in Lagos State. Ultimately, this effort reflects Lagos's commitment to urban development and the welfare of its trading communities.