The Lagos State House of Assembly has taken a significant step towards regulating market operations in the state with the Market Authority Bill.
The bill, which passed its second reading on Tuesday, aims to provide a framework for market registration, formation, organization, and operation.
It also seeks to address anomalies in existing laws and ensure that all markets in the state are duly registered, according to TheNation.
Lawmakers praised the bill for its comprehensive approach, saying it would bring order and structure to market operations in Lagos State.
The bill has been referred to the House Committee on Local Government for further review and is expected to be reported back to the House within two weeks.
If passed, the Market Authority Bill will have far-reaching implications for market operations in Lagos State, ensuring that they are clean, well-managed, and free from gridlocks.
On his part, Hon. Sa’ad Olumoh said the bill makes it mandatory for the appointment of the board members to be ratified by the House. He also noted that the bill would help to scrap situations where traders arbitrarily apportion titles to themselves.
“Clause 18 talks about an advisory board that the Iyaloja-General is going to be heading. That tells us that our Iyaloja is in a better position to give the necessary advice,” he said.
