Hon. AbdulHamed Salawu, popularly known as ‘Dullar,’ the Executive Chairman of Somolu Local Government and the Agba-Akin of Agboyi Kingdom, is set to commission the newly completed Olaleye Market complex on Friday, August 30, 2024.
The modern market, located in the heart of Somolu, represents a significant milestone in Hon. AbdulHamed Salawu’s efforts to revitalize the area and boost local commerce.
According to sources from the chairman’s office, meticulous plans have been made to ensure the success of the event. The ceremony is expected to attract a wide array of dignitaries, including government officials, political leaders, religious figures, artisans, and captains of industry, all gathering to witness the unveiling of the new market.
Speaking to the Chairman of the House Committee on Work, and Councillor representing Akoka Igbari Ward H; Hon. Oyeyiola Tunde James described the market remains one of the oldest markets that have been commercially viable, serving the people in the area and the entire community noting that the newly reconstructed market would no doubt attract people from far and near where people could get whatever they want at every point in time.
He continued, “By and large, Olaleye market is one of the oldest and biggest markets that have been serving the people in the area that attracting people from far and near. Although it was shut down about 18 months ago or thereabout, and now that it has been given a facelift to an ultra-modern one by the AbdulHamed Salawu-led administration, it’s a big one for the old and new traders and the people of the Somolu community in its entirety.
He, however, commended the council chairman for keeping his promise while he urged the traders to own up the market in good faith and make good use of it, having the sustainability effect behind their minds.
In the same vein, the contractor in charge of the market, Oloye Ashabi Morounranti, the Cultural Ambassador to the Ooni of Ife, Adeyeye Enitan Ogunwusi; the Ojaja II also hinted that the partnership with the Somolu local government for the reconstruction of the Olaleye market into a modern shopping center has been a fruitful and commendable one stressing that the market before now used to be rundown and shabby sort of.
She continued, “They used to have very serious flooding challenges because of the development that enveloped the market, and every time rainfall into the market, it will retain the water. So we had to consider that when we were working on the project. We took the topography and made it higher than the existing road and today, the rest is history”.
“Mind you, do not forget that Somolu is a commercial printing hub in Lagos state. People know Somolu as a Printing hub and even before the printing, the market has been in existence for over 60 years. And with this new market complex, it will certainly increase the commercial value of the Somolu community as people will come from far and near to get things for themselves, especially the locally prepared ‘Awo’. She opined.
Olaleye Market, a key commercial hub in Somolu, tragically burned down in April 2020 due to an electrical surge that occurred in the middle of the night, leaving many traders devastated. Although no lives were lost in the fire, goods worth millions of naira were destroyed, creating significant economic hardship for the affected traders.
The market’s reconstruction was undertaken through a Public-Private Partnership (PPP) arrangement, a strategic move to not only rebuild but also modernize the facility, ensuring it meets the needs of the community while supporting economic growth. The new market complex is expected to generate job opportunities, stimulate the local economy, and provide versatile spaces for various commercial activities.
Addressing concerns about the traders who previously occupied shops in the old market, Hon. Salawu assured that they would be given priority in the allocation of the new shops. He emphasized that the council has developed a phased payment plan to make the transition to modern shops as smooth as possible. “We are committed to ensuring that our traders are not displaced and can seamlessly transition into the new market,” he stated.
The modern Olaleye Market stands as a testament to the ‘Hon. Dullar’s’ dedication to community development and economic empowerment. As the commissioning date approaches, there is a palpable sense of anticipation among Somolu residents, who see the market as a symbol of resilience and progress following the devastating fire of 2020.
