The Alaba International Market in Lagos is a bustling hub of electronic trade, reputed to be Nigeria’s largest and one of West Africa’s biggest electronic markets. Located in the Ojo Local Government Area of Lagos State, the market is a beehive of activities, except on Sundays and some public holidays. With over 5,000 shops and more than two million people transacting business daily, the market is a key player in the economy of Lagos State.
The market, situated on the Lagos-Badagry expressway axis, attracts buyers and sellers from neighboring countries like Ghana, as well as from East Africa, Togo, and Benin Republic. It reflects Nigeria’s cultural diversity, with people from various ethnic groups conducting business there. The market has evolved over the years, from a simple street market to a vast commercial zone, offering a wide range of electronics, household appliances, security equipment, and more.
One of the founding fathers of the market, Chief Christopher Chika Ajokorom, shared the market’s humble beginnings and its growth over the years. From a wilderness near Mile 2, the market has flourished into a sub-Saharan pride, celebrating its 40-year anniversary in 2019. The market is not only a place of trade but also a center of innovation and entrepreneurship, where many successful businesses have started.
The market accommodates traders from different parts of the country, fostering good relationships among them. Generations of traders have thrived in the market, passing down business ideas and skills. Malam Aliyu Hussein, a carpet and rug seller, has been doing business at the market for about four decades, transferring his knowledge to younger generations. Mohammed Babagana Qudusu, another trader, inherited the carpet and rug business from his father and continues to thrive in the market.
Despite its economic contributions, the market faces challenges, particularly in the current economic crisis in the country. Traders are feeling the impact of rising costs and fluctuating exchange rates, making it difficult to plan and operate their businesses effectively. The lack of government support in the form of palliatives or incentives adds to the challenges faced by traders.
Additionally, the market is known for piracy activities, particularly in the film industry. A research study conducted on movie piracy networks at Alaba International Market revealed the veiled chain of film piracy, a major crime in the Nigerian entertainment industry. Efforts to combat piracy must take into account the intricate network involved in intellectual theft and implement strategies to curb piracy activities.
In conclusion, the Alaba International Market in Lagos is a vibrant and dynamic hub of electronic trade, reflecting Nigeria’s cultural diversity and entrepreneurial spirit. Despite facing challenges, the market continues to thrive and contribute to the economy of Lagos State. Efforts to address issues such as the economic crisis and piracy activities are essential to sustain the market’s growth and development.