Lagos Assembly Moves to Boost Business with Market Authority Bill

…As Market Authority Bill Scales Second Reading

The Lagos State House of Assembly has taken a significant step towards strengthening business activities in the state with the consideration of the Market Authority Bill.

The bill, which has scaled second reading, aims to provide a legal framework for the registration, formation, organization, and operation of markets in the state.

According to Hon. Sanni Okanlawon, Chairman of the House Committee on Local Government, the bill seeks to address anomalies in the existing law and ensure that all markets are duly registered.

The bill’s inclusive composition of the market board and advisory council has been praised by lawmakers.

However, some concerns were raised during the debate, including the potential for dual roles for the Iyaloja-General and the need for honest leadership.

The bill’s provisions for market cleanliness, effective management, and gridlock prevention were also highlighted.

The House Committee on Local Government has been tasked with reviewing the bill and reporting back to the House within two weeks.

If passed, the Market Authority Bill is expected to have a positive impact on Lagosians and the state’s business environment.