In line with Governor Babajide Sanwo-Olu’s commitment to urban development and making Lagos a 21st-century economy, the Lagos State Government yesterday handed over provisional letters of allocation to the initial 180 beneficiaries affected by the redevelopment of Alaba Transnational Market, along the Lagos-Badagry Expressway in the Ojo Local Government Area.

The provisional letters of allocation approved by Governor Sanwo-Olu were received personally by the traders during a ceremony held at the Lagos State Building Control Agency (LASBCA) headquarters in Ikeja.

Speaking during the event, the Special Adviser to the Governor on e-GIS and Urban Development, Dr Olajide Babatunde, disclosed that when traders pay up to 25 per cent of the shop cost, their letters of allocation will be given to them. He also noted that a down payment of 50 per cent will reduce risks of interest, with the balance payable over a six-month period.

Babatunde described the steps taken as part of the regeneration efforts of the Lagos State Government in transforming the Alaba Rago Market to international standards with modern facilities. He also assured the traders that the Lagos State Government would look at the development plan of the market and build the access road to make it motorable.