Alaba International Market
Alaba international market is an electronics market located in Ojo, Lagos State, Nigeria. It is the largest electronics market in Nigeria. Apart from the sales of electronic products, the market also deals in the repair of home appliances.[1] The market and its wide range of business activities gives opportunities to electronics and electrical engineers who specialized in the repair of faulty home appliances to transact businesses with dealers electronics.[2] The market is opened on a daily basis except on Sundays and public holidays. This daily business transactions and popularity has attracted new investors and electronics dealers across Africa, thereby expanding the market size and population with significant effects on the economy of Lagos State.[3]
In October 2022, violent clashes broke out at the market.[4]
Basic structural characteristics
[edit]Alaba international market is a Perfect market in which no dealer influences the price of the electronic product it buys or sells within the market with no Barriers to entry and exit.[5] The market is characterized by huge numbers of sellers and buyers with willingness to buy the products at a certain price based on their need and income, enhancing long term adjustments to changing in the market conditions.[6]
Demolition
[edit]In June 2023, it was announced that a number of structurally defective buildings would be demolished.[7] The Lagos State Building Control Agency (LASBCA) identified 17 buildings as "beyond redemption".[8][9]
See also
[edit]References
[edit]- ^ "The Chaos at Alaba International Market, Lagos, Articles". Thisday. Archived from the original on July 5, 2015. Retrieved June 30, 2015.
- ^ "Economies Go Underground". Forbes. Retrieved June 30, 2015.
- ^ "Alaba International market". PM News Nigeria. Retrieved June 30, 2015.
- ^ "Alaba market: Wetin we know about violent clash for Nigeria largest electronic market". BBC News Pidgin. 2022-10-19. Retrieved 2023-06-17.
- ^ "Crisis brews alaba international market alleged fraud". Vanguard News. Retrieved June 30, 2015.
- ^ "Film Producers Urges FG to Enact Laws on Pirates At Alaba". Leadership News. Archived from the original on July 1, 2015. Retrieved June 30, 2015.
- ^ "BBC NEWS | VOTE 2001 | RESULTS & CONSTITUENCIES | Sheffield Hillsborough". news.bbc.co.uk. Retrieved 2023-06-17.
- ^ Ugwu, Francis (2023-06-16). "Lagos govt begins demolition of Alaba International Market buildings". Daily Post Nigeria. Retrieved 2023-06-17.
- ^ "Alaba Market demolition: Lagos state plan to take down 'distressed' buildings spark reactions". BBC News Pidgin. 2023-06-17. Retrieved 2023-06-17.