The Market Authority Bill passed its second reading at the Lagos State Assembly, aiming to strengthen market organisation and registration.
[dropcap]T[/dropcap]he Market Authority Bill, designed to enhance the regulation and organisation of markets in Lagos, has successfully passed its second reading at the Lagos State House of Assembly.
The bill, which aims to address gaps in current market laws, was discussed during a session presided over by Speaker Rt. Hon. Mudashiru Obasa and has now been referred to the House Committee on Local Government for further review. A report on the bill is expected within two weeks.
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Chairman of the Local Government Committee, Hon. Sanni Okanlawon, outlined the bill’s purpose, emphasising its goal to ensure all markets are properly registered and governed under uniform regulations. He highlighted the importance of addressing issues in the existing laws to create a conducive business environment in Lagos.
In support of the bill, other lawmakers offered their perspectives. Hon. Rauf Age-Suleiman lauded the inclusive structure of the proposed Market Board, while Deputy Majority Leader Adedamola Richard Kasunmu stressed the need to clearly define the Iyaloja-General’s advisory role to avoid any overlap with responsibilities within the Market Board.
Hon. Sa’ad Olumoh pointed out that the bill mandates that board members be ratified by the House, ensuring a formal process for leadership appointments. He also noted that this would curb the practice of traders self-appointing titles, thereby maintaining order in market operations.
Further expressing his support, Hon. Stephen Ogundipe shared his optimism that Lagosians would appreciate the law, especially for its focus on market cleanliness and management.
Hon. Nureni Akinsanya and Hon. Aro Moshood echoed these sentiments, with Moshood highlighting how the bill addresses traffic congestion caused by market activities.
The proposed law is expected to bring much-needed organisation to the markets of Lagos, ensuring smoother operations and a better business environment for traders and residents alike.
Oreoluwa is an accountant and a brand writer with a flair for journalism.
