Lagos State Executive Governor Commissions Babajide Sanwo-Olu International Market Ikosi 

Image

By Adedapo Adesanya

***Constructed By Total Value Integrated Services

The Governor of Lagos State, Mr Babajide Sanwo-Olu, recently commissioned the third phase of the Ikosi International Model Market and the Ikosi International Fruits Market Phase 2, delivering on a promise made to the people of the community.

The Governor speaking at the commissioning, which was held amid fanfare and jubilation on Thursday, May 25, stated that commercial activities in markets have had a great impact on the state’s economy.

He added that building a befitting environment for traders remained a noble initiative to drive grassroots democracy and socio-economic growth.

The Governor said, “I commend the vision and leadership which facilitated the delivery of these two ultra-modern markets befitting the status of our state and resonate with the vision of a Greater Lagos.

“The impact the markets have had on the economy of Lagos is invaluable, as they serve as focal points of economic activities in the State. These are the real examples of initiatives of grassroots democracy and socio-economic growth.”

On his part, Mr Chris Onyekachi, the Managing Director (MD) of Total Value Integrated Services, a conglomerate involved in real estate development, construction, and civil engineering contracting works and the brain behind the construction of the ultra-modern markets with structures named after notable personalities including the Lagos State Deputy Governor, Mr Obafemi Hamzat, Mr Busura Alebiosu, Mr Mudashiru Obasa, et al. revealed that it wasn’t easy building a market of the magnitude of the third phase of the Ikosi International Model Market and the Ikosi International Fruits Market Phase 2.

He revealed that the journey to where the market is today began almost two and half years ago when his company came to reconstruct the market, which started from phase one to the third phase.

He said, “It wasn’t an easy journey because convincing market traders that we had good plans for them wasn’t an easy one. In their minds, they thought we wanted to chase them away. Some people felt that we wanted to use the place to build an estate, but we were lucky to have the leaders in the environment intervene. To the glory of God, we completed the first phase, we allocated it, then we started the second phase, and we also completed and allocated that. This is the third phase, and to the glory of God, we are here today. I thank God for His grace and mercy.”

Stating that the shops are affordable, Mr Onyekachi said that Total Value Integrated Services has a timeline for payment for those who can’t afford to finish their payment once, noting that once 60 per cent of the first deposit is paid, the remaining balance can be spread as agreed.

“We have our management team that is going to be on the ground to manage all the facilities here. I can assure you that in the next 10 years, whatever you have seen today is going to be in the same condition because we are going to manage them properly. Everything is properly designed, the landscape included. You can see our car parks. We have about 500 car parks here, and it makes it convenient for every person that is coming to buy and trade.

“We have a 300 KVA generator, a fire hydrant in case of fire; definitely we don’t pray for that, but we have made provision. All of the shops will be metered; we also have our security house here. We have six mobile policemen that are going to be here day and night, and we also have members of the Odua Peoples Congress (OPC)/that are also going to be here to provide security.”

Adding her voice to the narrative, the chairman, Ikosi-Isheri LCDA, Mrs Bada, noted that the markets were built in the quest to improve the standard of trading and to serve as an alternative to the existing markets.

“The markets were built in phases. The first phase was commissioned last year by Mr Governor, which consisted of key-clamp shops (fruit section) where all old occupants and fruit-market shop owners were conveniently relocated, with more than 3,000 units of spacious key clamps.

“Today, I am delighted that the second phase has been completed and is being commissioned by Mr Governor and will be allocated to old users,” she concluded.

The event attracted several notable personalities, including the Chairman of Ikosi-Isheri LCDA, Mrs Samiat Bada; Commissioner for Wealth Creation, Mrs Rabiat Arobieke; Special Adviser to the Governor on Works and Infrastructure, and Mr Aramide Adeyoye, among others.

Share
Related Stories
Image
25-September-2023

Supreme Court Blames Electrical Fault for Monday Morning Inferno

By Bliss Okperan The early morning fire that gutted a part of the Supreme Court complex in Abuja has been blamed on an electrical malfunction. The Director of Information of the apex court, Mr Festus Akande, said this on Monday morning when he appeared on Arise Television’s breakfast programme, The Morning Show. According to him, preliminary investigation showed that the fire was triggered by an electrical fault, playing down rumours that the Supreme Court was attacked by arsonists. Attention is on the apex court over the outcome of the presidential election held on Saturday, February 15, 2023. The Appeal Court

Image
22-September-2023

YouTube Unveils New Generative AI Products as Shorts Hits 70 billion Daily Views

By Aduragbemi Omiyale An artificial intelligence-powered feature, Dream Screen for Shorts, designed to redefine how creators use YouTube, has been unveiled by the video streaming platform. The feature was introduced by the tech giant on Thursday alongside others at the Made On YouTube event. It was created to allow YouTube creators to reach more viewers. According to the firm, Dream Screen allows creators to add AI-generated video or image backgrounds to their Shorts simply by typing an idea into a prompt. With Dream Screen, creators will be able to generate new, fantastic settings for their Shorts that are only limited

Image
28-September-2023

NIMASA Becomes Best MDA in Digital Transformation

By Adedapo Adesanya The Nigerian Maritime Administration and Safety Agency (NIMASA) has been chosen as the best federal government agency in Digital Transformation. This recognition came from the Presidency through the Bureau of Public Service Reforms (BPSR). In a statement, it was disclosed that the Director-General of the maritime regulator, Mr Bashir Jamoh, has been nominated to receive the distinguished GovTech Trailblazers Award for his exemplary leadership. The BPSR explained that the nominees were picked from a nationwide nomination and online voting process initiated by the bureau, as well as a detailed analysis of the performance of all government MDAs

Image
27-September-2023

Reps Seeks Completion of Okpai–Kwale Transmission Line Project

By Adedapo Adesanya The House of Representatives has urged the Federal Ministry of Power and the Transmission Company of Nigeria (TCN) to urgently provide funds for the completion of the Okpai–Kwale Transmission Line Project in Delta State. At the plenary on Tuesday, the lower chamber of the parliament mandated its Committee on Power to ensure that bottlenecks mitigating against the completion of the project are effectively addressed and the project is completed in due time. This followed a motion moved by Mr Nnamdi Ezechi, the lawmaker representing Ndokwa/UKwuani Federal Constituency in the National Assembly on the floor of the green

More Stories
Image
02-October-2020

Crude Slides as OPEC Production Rises in September  

By Adedapo Adesanya The major crude benchmarks took a nosedive of more than 3 per cent at the international oil market on Thursday as data showed that production from the Organisation of the Petroleum Exporting Countries (OPEC) and its allies increased in September. The Brent crude futures fell by 3.48 per cent or $1.42 to trade at $40.88 per barrel while the West Texas Intermediate (WTI) crude futures depreciated by 3.8 per cent or $1.59 to $38.64 per barrel. OPEC+’s September seaborne exports jumped to 22.84 million barrels per day from the 22.11 million barrels per day exported by the

Image
17-November-2021

How e-Commerce Using Social Media Platforms is Creating a Market for Online Shoppers and Vendors

By Emmanuel Otori The emergence of e-commerce in Africa has seen online shoppers take advantage of the convenience it offers, as goods can now be delivered directly to their doorsteps while they also have the flexibility of selecting the payment channel either using their debit cards or payment upon delivery option. However, as e-commerce continues to evolve and shape how business is done, there are numerous challenges that have been associated with making orders online. These challenges, if unresolved over a long period of time, would make the trust the customer has completely diminished as the reputation of the businesses

Image
06-April-2023

Crude Oil Market Flat Despite Drop in US Crude, Fuel Inventories

By Adedapo Adesanya The crude oil market settled largely unchanged on Wednesday despite greater-than-expected draws in crude and fuel stockpiles in the United States. Brent crude futures were up by 5 cents or 0.1 per cent to $84.99 a barrel, and the US West Texas Intermediate crude rose by 10 cents or 0.1 per cent to $80.61 a barrel. The Energy Information Administration (EIA) reported a crude oil inventory draw of 3.7 million barrels for the week to March 31 compared with the preceding week’s draw of 7.5 million barrels, the agency said, adding that at 470 million barrels, inventories

Image
18-October-2016

Justice Ademola Withdraws From Dasuki Case

By Ebitonye Akpodigha One of the judges accused by the Department of State Security (DSS) of collecting bribe, Justice Adeniyi Ademola, has announced his withdrawal from the case of former National Security Adviser (NSA), Mr Dasuki Sambo. Justice Ademola is a Federal High Court judge. At the resumption of trial today, Justice Ademola explained that he was sending back the case file of Dasuki to the Chief Judge of the Federal High Court, Justice Ibrahim Atta, so as to reassign it to another judge. According to him, he decided to withdraw from the case based on the allegations of corruption

Image
04-August-2016

Excitement As FG Okays Badagry Seaport

There is excitement in the air following the approval for the establishment of a seaport in Badagry, Lagos. At the moment, the Nigerian Ports Authority (NPA), which controls seaports in Nigeria, is in charge of the two ports in Lagos; the Lagos Port Complex and the Tin Can Island Port. On Wednesday, after the Federal Executive Council (FEC), Minister of Power, Works and Housing, Babatunde Fashola, told State House correspondents that the Federal Government has approved the establishment of the Badagry seaport. Mr Fashola noted that the port, when completed, would be used to bring in big vessels into the

Image
11-October-2022

Crude Oil Falls as Recession Fears Outweigh Tight Supply Prospects

By Adedapo Adesanya Investors’ worry that economic storm clouds could foreshadow a global recession and erode fuel demand pulled down crude oil by nearly 2 per cent on Monday. The Brent crude futures settled at $96.19 a barrel after losing $1.73 or 1.8 per cent as the US West Texas Intermediate (WTI) crude futures shed $1.51 or 1.6 per cent to trade at $91.13 a barrel. Many see demand destruction happening despite banks’ latest price forecasts, most of which see Brent returning to a three-digit territory before the year’s end. Prices also fell amid comments from US Federal Reserve officials

Image
12-November-2020

NASD Index Remains at 719.40 points

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded no movement as the benchmark indices remained unchanged at the close of business on Wednesday, November 11. At the bourse, the market capitalisation closed at N528.44 billion as it did at the previous session while the NASD Unlisted Security Index (NSI) equally made no movement from 719.40 points. However, the activity chart showed movements as the trading volume declined by 22.9 per cent as a result of the 78,453 units of securities transacted by investors during the session in contrast to 101,780 units of securities transacted by market participants on

Image
21-December-2021

COVID-19: NDDC Calls for Caution as Nigeria Enters Fourth Wave

By Adedapo Adesanya Nigerians have been told to take collective responsibility as the country is now experiencing a fourth COVID-19 wave. This was disclosed by the Director-General of the Nigeria Centre for Disease Control (NCDC), Dr Ifedayo Adetifa, in a statement. “Nigeria has recorded a 500 per cent increase in the number of confirmed COVID-19 cases over the past two weeks across the country caused by the Delta and Omicron variants,” the statement said. “As of 19th December 2021, a total of 223,887 cases and 2985 deaths have been recorded in Nigeria across all 36 states and the Federal Capital

Ad
Ad
Recent Stories
Image
03-October-2023

September PMI: Nigeria’s Business Activity Improves

By Modupe Gbadeyanka Nigeria’s business activity improved in September despite cost pressures limiting demand, according to the latest Purchasing Managers’ Index (PMI) released by Stanbic IBTC Bank Plc. The lender said in the period under review, the private sector had a reading of 51.1 points compared with the 50.2 points achieved in August 2023. It was the rise in business activity in the country was influenced by the growth in order, though the rates of expansion in each were only modest. New orders increased for the sixth month running in September as some firms signalled an improvement in demand. While

Image
03-October-2023

Agostini, Two Others Win 2023 Nobel Prize in Physics for Attosecond Pulses

By Adedapo Adesanya Three scientists will share the Nobel Prize in Physics as the Royal Swedish Academy of Sciences recognised Pierre Agostini, Ferenc Krausz and Anne L’Huillier as this year’s recipients for experimental methods that generate attosecond pulses of light for the study of electron dynamics in matter. The three Nobel Laureates in Physics 2023 were recognised for their experiments, which have given humanity new tools for exploring the world of electrons inside atoms and molecules. BREAKING NEWSThe Royal Swedish Academy of Sciences has decided to award the 2023 #NobelPrize in Physics to Pierre Agostini, Ferenc Krausz and Anne L’Huillier

Image
03-October-2023

Nigeria Targets 22% ICT Contribution to GDP by 2027

By Adedapo Adesanya Nigeria plans to increase the net contribution of the telecommunications sector to the gross domestic product (GDP) by 22 per cent by the end of 2027. This is part of efforts announced by the Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, in the ministry’s 31-page Strategic Blueprint document titled Accelerating our Collective Prosperity through Technical Efficiency, seen by Business Post. In the document, the ministry noted that “As telecommunications continues to evolve in line with new technology and associated opportunities, it is critical to revamp our national approach to account for changing imperatives and

Image
03-October-2023

Union Bank, Fate Foundation Empower SMEs in Nigeria

By Modupe Gbadeyanka Small and Medium Enterprises (SMEs) in Nigeria recently had the opportunity to gain more knowledge on how to scale their operations at a training organised by the Fate Foundation Alumni Conference. The event, in its 8th edition, was bankrolled by one of the leading financial institutions in the country, Union Bank of Nigeria Plc. It was gathered that at the programme, participants, including chief executive officers of major businesses, SME and MSME owners, exhibitors, and Fate Foundation Alumni shared knowledge on crucial topical subjects essential for entrepreneurial growth and success from seasoned entrepreneurial leaders and influencers. At

Image
03-October-2023

Stock Market Witnesses N30.379 billion Transactions in Four Days

By Dipo Olowookere Transactions worth N30.379 billion were recorded at the Nigerian Exchange (NGX) Limited last week, which had four trading sessions due to the public holiday observed last Wednesday for Eid-el Maulud. Data obtained by Business Post showed that the stock market posted these trades from the sale of 3.911 billion shares in 38,536 deals. When compared with the preceding week, which had five trading days, the value of transactions weakened by 36.00 per cent, as investors bought and sold 2.933 billion shares valued at N47.449 billion in 44,654 deals. A breakdown indicated that the financial services industry led

Image
03-October-2023

Schneider Electric Shares Insights on Improving Customer Satisfaction

In recognition of Customer Service Week 2023 (October 2 – 6), Schneider Electric shares valuable insights on improving customer satisfaction. Ajibola Akindele, Country President, Schneider Electric, West Africa, shares strategies and insights on how Schneider Electric has built long-lasting customer relations over the years through customer satisfaction. How would you describe Customer Service? The heart of Schneider Electric is its customer service. It represents our guiding principles and is essential to how we conduct business every day. At Schneider Electric, we consider providing exceptional customer service to be more than just a department, but rather a part of who we

Image
03-October-2023

NDIC Begins Payment of N16.18bn to Depositors of 20 Failed Banks

By Adedapo Adesanya The Nigeria Deposit Insurance Corporation (NDIC) has disclosed playing N16.18 billion in liquidation dividends to depositors, creditors, and stakeholders of 20 banks in liquidation. According to a statement from the corporation’s Director of Communication and Public Affairs, Mr Bashir Nuhu, this follows impressive recoveries from debtors and the realisation of assets of banks in liquidation. As a result, the NDIC, which is responsible for protecting depositors and guaranteeing the settlement of insured funds when a deposit-taking financial institution can no longer repay their deposits, said it had commenced verification and payment of stakeholders covered by the declarations

Image
03-October-2023

NASD Index Rises 0.83% in Week 39

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed Week 39 mixed as the unlisted securities index rose by 0.83 per cent, while the market capitalisation depreciated by 2.63 per cent after VFD Group Plc finally delisted after three years of trading on the platform. According to data from the bourse, the NASD index went up by 6.70 points to 815.65 points from 808.95 points, while the value of the exchange shrank by N30 billion to N1.110 trillion from N1.140 trillion. In the week, Nipco Plc improved its value by 9.8 per cent to close at N95.00 per share

Image
03-October-2023

Norwegian Start-up Invests $13m in WATT Renewable

By Aduragbemi Omiyale A Norwegian start-up, Empower New Energy, has injected about $13 million into a Nigerian hybrid solar solutions provider, WATT Renewable Corporation, to reduce the country’s carbon footprint through innovative technologies. A statement from WATT said the funds would be used to improve the renewable energy portfolio, adding an impressive 8MW of installed generating capacity and 14.3MWh of storage capacity through end-to-end services and operation of towers in Nigeria. The firm stated that this is set to make a substantial impact on the availability and reliability of clean energy in the region and reduce the consumption of diesel

Image
03-October-2023

Naira Value Appreciates at P2P as Bitcoin Trades Above $27000

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Peer-2-Peer (P2P) wing of the foreign exchange market on Monday, October 2, as the official market, the Investors and Exporters (I&E) window closed for the Independence Day holiday. In the P2P segment, the Nigerian Naira appreciated against the American currency by N3 to sell at N998/$1 compared with the preceding session’s value of N1,001/$1. In the same vein, the local currency improved its value against the US Dollar on Tuesday by N1 to sell at N1001/$1 versus the previous session’s exchange rate of N1002/$1. During the Independence Day