By Ihechi Enyinnaya
The Lagos State House of Assembly has approved the Market Authority Bill, a new piece of legislation aimed at tightening market regulation across the state.
Having passed its second reading, the bill is now under review by the House committee on local government, which is expected to submit its findings within two weeks.
If enacted, the bill will establish procedures for the registration, formation, and organization of market operations in Lagos State. It seeks to address current legal gaps and ensure that all markets are properly registered and compliant with the law.
Sanni Okanlawon, chairman of the local government committee, stated that the proposed law would correct deficiencies in existing legislation and make market registration compulsory.
Legislator Rauf Age-Suleiman commended the bill for including a diverse board that represents various stakeholders, providing opportunities for broader participation in market management.
Sa’ad Olumoh, another House member, endorsed the bill’s provision requiring the House to ratify board appointments. He argued that this would prevent the arbitrary allocation of titles by traders. Olumoh also suggested including the Iyaloja-General on the market board, noting that Clause 18’s advisory board should be led by the Iyaloja-General for effective guidance.