Lagos State Governor, Mr. Babajide Sanwo-Olu, on Monday inaugurated the Lagos State Market Advisory Council (LASMAC), urging members to foster integrity, improve market operations and promote fair trade practices across the state.
EpeInsights gathered that the Governor, who spoke during the swearing-in of the 21-member Council at Lagos House, Ikeja, described markets as essential to both the state’s economy and its communal identity.
He emphasised that markets are not merely places for commerce, but vibrant hubs of culture, innovation, and livelihoods for millions of Lagosians.
“Our markets are more than just places to buy and sell; they are lively hubs of culture, innovation, and social connection. They support the livelihoods of millions and play a vital role in the economic growth of our state,” Sanwo-Olu stated.
The newly inaugurated Council is chaired by the Iyaloja-General of Lagos State, Chief (Mrs.) Folashade Tinubu-Ojo, and comprises diverse individuals with demonstrated leadership in market management and development.
Governor Sanwo-Olu charged the Council to be proactive, transparent, and inclusive in its operations, noting that the establishment and growth of LASMAC reflect his administration’s commitment to inclusive governance.
“By uniting market leaders, traders, and government officials, LASMAC acts as a vital hub for dialogue, conflict resolution, and innovation. Your success directly contributes to Lagos State’s success. I believe that through your commitment and collaboration, we can modernise our markets, improve access to technology, and foster safer, cleaner, and more efficient trading environments,” he said.
The Governor also used the occasion to warn traders against engaging in sharp practices, urging them to conduct their business with integrity and accountability.
Earlier in his remarks, the Commissioner for Local Government, Chieftaincy Affairs and Rural Development, Mr. Bolaji Robert, described the inauguration as another milestone in the Sanwo-Olu administration’s economic agenda.
He noted that the constitution of the Council aligns with existing bye-laws, adding that the new members bring a wealth of experience and passion for grassroots development and market reform.
“LASMAC is made up of passionate advocates for market development who were carefully selected to help enhance market structure, mediate issues, and serve as a bridge between the government and market stakeholders,” he said.
In her vote of assurance, the Iyaloja-General, Chief Folashade Tinubu-Ojo, expressed appreciation to the state government for its continued support for traders.
She pledged that the Council would diligently carry out its role as a liaison between the government and market communities.
“We accept this responsibility with full commitment and assure the Governor that we will continue to foster collaboration and transparency in the interest of market development and trader welfare,” she said.
