By Yinka Kolawole
Lagos State government has began moves to accommodate traders who were displaced and negatively affected by the ongoing redevelopment of Oshodi

L -R Mr. Abimbola Olayinka, President of the Mortgage Banking Association of Nigeria (MBAN); Mr. Olufemi Fabamwo, Acting Director, Other Financial Institutions Department (OFID), Central Bank of Nigeria (CBN) representing the Governor of Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi and Mr. R.O.F. Ebie, Chairman, MBAN Board of Trustees at the recent MBAN Retreat for Chief Executive Officers of PMIs in Abuja.

“Our war against street trading would be seen as punitive than correctional one, if there are no alternatives for the residents to engage in their lawful businesses,”Governor Babatunde Fashola said.

“The state has embarked upon the construction of 601_Kaiyero Market Extension, which will harbour those whose business activities may have been affected by the on_going clearing exercise in the area,” he said during a recent visit to the area.

He said the multi_purpose shops comes with facilities for fire protection, functional drainage facilities, conveniences, electrification of the market and the entire area and other amenities that may be missing in the traditional markets in Lagos.   He said that the  ongoing redevelopment of Oshodi  by the state government is  aimed at enhancing commercial activities in the area.

He said  that  that the state government has launched a comprehensive blueprint for the transformation of the area into an international shopping arcade.

Fashola asserted that the plan is for the area to become the hub of commercial activities in the state, where shoppers can engage in day and night activities, adding that people coming from outside the state and the West African sub_region would be able to transact their business as is being done in Idumota, and in places like Togo, Cotonou, Cote d’ Ivoire.

The governor said that security measures are being put in place to ensure that Oshodi becomes a no_go area for criminals and hoodlums, noting as a result, that the danger to properties in Oshodi as well as government reservation areas (GRA), around the areas is being eliminated.

“As result of the notoriety that Oshodi was known, residents and businesses were affected by the activities of hoodlums, thus, forcing people to relocate. This situation, if not quickly addressed, would have had depreciating effects, not only on the state, but also on the nation’s economy, judging from the strategic location of Oshodi as the gate way to many states and communities both in Lagos and beyond.

Another advantage that the redevelopment would bring is the possibility to attracting more locally produced goods,” he stated.

On the proposed bus terminus under construction in the area, he said the plan is to fully equip the markets with amenities and ensure the area becomes a total shopping centre and a “tourist attraction on its own”, where people can shop for long hours, buy almost what they need and get into a bus without any constraining traffic or hassles.”