Lagos Assembly Moves to Strengthen Market Operations with New Bill

Lagos Assembly Moves to Strengthen Market Operations with New Bill

By Otitologbon Oluwabusayo

The Lagos State House of Assembly has passed the Market Authority Bill to its second reading, aiming to regulate and standardize market operations in the state.

The bill, which was committed to the House Committee on Local Government, seeks to provide for the registration, formation, organization, and operation of market operations in Lagos. Lawmakers supporting the bill argued that it would address anomalies in the current law, ensure mandatory registration of markets, and promote effective management and cleanliness of markets. The bill also proposes an advisory board to be headed by the Iyaloja-General, which would provide guidance on market operations. The committee is expected to report back to the House within two weeks. If passed, the bill would help streamline market activities, reduce gridlocks, and enhance the overall business environment in Lagos.