Lagos State Begins Payment Of Compensation To Traders Displaced For Oshodi Regeneration Project

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The state government has commenced payment of compensation to traders of Mosafejo market displaced for the Multi-Billion Naira Oshodi regeneration project, The Guardian reports.

The traders had in a stakeholders’ meeting insisted on prompt payment of compensation to assist the affected shops owners to get alternative shops and maintain their businesses.

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Payment of compensation was made at a meeting attended by executives of the various associations, sectional leaders and senior government officials led by the Commissioner of Physical Planning & Urban Development, the Special Adviser to the Governor on Urban Development and Permanent Secretary in the ministry.

Speaking during payment of the compensation to traders, Special Adviser to the Governor on Urban Development, Mrs. Yetunde Onabule, said the need to redevelop the area arose consequent upon the state government’s commencement of the urban regeneration of Oshodi, which will see the area transformed into a world-class Central Business District (CBD).

oshodi-market-demolition

According to her, “redevelopment of Oshodi will greatly enhance security of lives and properties in the neighbourhood.”

Onabule said the new Oshodi would not only reduce crime in the area, but will also address the environmental nuisance and confusion often associated with the area.

According to her, “Oshodi in its present state currently accommodates about one million pedestrians daily with about 100,000 passengers daily accessing the 13 parks scattered within the area, while 76 per cent of the area is dedicated to transport-related activities, causing serious traffic congestion and other environmental issues.

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Speaking on behalf of the traders, the owner of Okomola Shopping Complex in Mosafejo, Yeye Oba Alake Oshun, extolled the government for compensating them, saying the action shows government’s concerns for the welfare of the people.