In a decisive move aimed at strengthening economic governance and revitalizing grassroots commerce, the Abeokuta North Local Government has inaugurated a Central Market Management and Monitoring Committee to oversee the affairs of all markets within the council area.
The development follows the suspension of Iyalojas, Babalojas, and other market executives, which took effect on December 31, 2025, for an initial period of six months. The suspension, according to the local government leadership, is part of broader efforts to restore accountability, improve efficiency, and reposition markets as engines of sustainable economic growth.
While inaugurating the committee, the local government chairman described the step as both timely and strategic, noting that markets remain the backbone of the local economy and a critical source of livelihood for thousands of residents.
“Our markets are more than just places of trade; they are the lifeblood of our local economy,” the chairman stated. “This transition period is about accountability and growth. We are laying the foundation for a structured, transparent, and profitable system that benefits every trader and every resident of Abeokuta North.”
The newly constituted committee has been given a clear and far-reaching mandate. Among its core responsibilities is the coordination and streamlining of market operations to ensure that activities align with the original objectives for which the markets were established. The committee is also expected to introduce forward-thinking reforms that will modernize trading environments and improve service delivery across all markets.
A major focus of the reform agenda is revenue optimization. The committee will work to enhance the local government’s Internally Generated Revenue (IGR), with assurances that proceeds generated from market activities will be reinvested into infrastructure development, sanitation, security, and other projects that directly benefit traders and residents.
According to the chairman, the reforms are not intended to punish traders or undermine traditional institutions, but rather to correct systemic lapses and create a more efficient management framework that supports growth and fairness.
“This initiative is about building trust, improving transparency, and ensuring that everyone plays by the rules,” he said. “When our markets function properly, the entire local government benefits.”
Traders and community stakeholders have expressed cautious optimism about the new development, with many hoping the committee will address long-standing issues such as poor infrastructure, multiple levies, and lack of accountability in market administration.
The Central Market Management and Monitoring Committee is expected to begin work immediately, engaging traders, unions, and relevant stakeholders as it rolls out reforms during the six-month transition period.
As Abeokuta North embarks on this new chapter, the local government leadership has reaffirmed its commitment to inclusive governance, economic growth, and the creation of a market system that reflects best practices while serving the interests of the people.
