The Lagos State Government has introduced a flexible payment plan to support the long-awaited relocation of Computer Village, Ikeja, to the new Katangowa Market in Agbado-Oke-Odo.
The announcement was made during a stakeholders’ meeting held in Alausa, Ikeja, where officials reaffirmed the government’s readiness to make the long-delayed project a reality.
The move marks a major step in one of the most talked-about urban redevelopment efforts in Lagos.
In September, the state government gave traders an 18-month deadline to move to the new site.
This update, however, comes as a relief to many business owners who have expressed concerns about affordability and logistics.
Permanent Secretary, Office of Urban Development, Arc. Gbolahan Oki, explained that Governor Babajide Sanwo-Olu’s administration is determined to complete the project after years of stalled efforts.
“The current site, originally a residential area, has been adversely affected by unplanned development, displacing many residents,” Oki said.
He noted that the governor’s vision for sustainable urban growth guided the plan to ensure the new market meets modern standards.
According to Oki, the 15-hectare Katangowa site will include facilities such as trailer parks, hotels, banks, a police station, a fire station, and other community amenities.
“The government will provide a 15-hectare site equipped with facilities such as trailer parks, hotels, banks, a police station, a fire station, and other community amenities,” he reiterated.
Moreover, Oki appealed to all stakeholders to cooperate with the developer to guarantee a smooth relocation process.
Project developer Sam Ajose assured traders that the new payment arrangement was designed to make the transition easier.
The flexible plan, he said, would help small businesses adjust without financial strain.
This development has been described as a practical solution to lingering concerns that traders might be priced out of the new site.
Furthermore, it demonstrates the government’s intent to balance economic growth with inclusivity.
The Iya Oloja of Computer Village, Abisola Azeez, praised the initiative, saying her earlier fears about the project had been addressed.
“All my fears have been allayed. I urge the developer to adhere strictly to design specifications and timelines so that the relocation can be completed successfully,” she said.
Earlier this year, Azeez led a biometric registration exercise at Computer Village to sanitize operations, curb criminal activity, and restore investor confidence.
She said the initiative was part of a rebranding drive to tackle issues such as phone snatching, fraudulent technicians, and the sale of fake products.
According to her, the process became necessary after a recent security scare prompted the Lagos State Task Force to consider closing the market.
However, swift intervention from market leaders helped avert the shutdown and protect legitimate traders.
Under the revised rules, only registered vendors displaying valid ID cards will be allowed to operate.
Approved street setups will now be limited to plastic chairs, show glasses, and umbrellas.
In addition, wooden structures and open flames will no longer be permitted, a measure aimed at reducing fire hazards.
