Home Business Tejuosho market ready for inauguration, says developer

Tejuosho market ready for inauguration, says developer


Tejuosho market ready for inauguration, says developerStomberg Engineering Limited has announced the completion of the first phase of the ultra modern Tejuosho Market and its inauguration this week.

Although the company did not give the exact date of inauguration, it said the new market, which rose from the ashes of the old Tejuosho Market, had elevators on each floor and dedicated ramps to allow physically challenged individuals to shop without restrictions.

It said that the ultra modern shopping centre offered equal opportunities for well-to-do shop owners and petty traders at affordable rates by offering them an eight-year repayment mortgage plan.

According to the Project Director, Stromberg Engineering, Mr. Abiodun Oshodi, the multimillion naira project completed with the collaboration of First Bank Nigeria Limited and the Lagos State Government comprises of 2,460 lock-up shops and 1,260 K-clamps shops specifically for petty traders.

He said work commenced on the redevelopment of the market in 2008 following the concession granted the firm by the Lagos State Government after the old facility was razed.

Oshodi said, “We wanted to build a multilevel market to take care of the old market people and the new ones. The market takes care of all aspects of trading in Lagos with escalators for the use of the disabled. [eap_ad_2] “We have 2,460 lock-up shops, each having prepaid electricity meter and 24 hours power supply.”

To cater for the sanitary needs of shoppers and shop owners, the project director added that on each of the first three levels were 32 toilets, and the last level had 12 toilets being complemented by 500, 000-litre capacity water tanks, borehole, underground reservoir and overhead reservoir.

The Executive Director, Corporate Banking, First Bank, Mr. Tokunbo Abiru, said initially the project team was faced with budgeting challenges, which were later resolved.

Abiru said, “Contractor finance got the project to where it is today. There was an initial budget presentation, but the economic condition of the country affected the initial cost; however, together with the Lagos State Government, we revised the budget.

“We assisted would-be buyers to get mortgages to purchase the shops. Most owners of the k-clamp shops are typically the petty traders. We made provisions for everybody because we understand the financial capacity of the petty traders.”

With due consideration for the security needs of the market, the Facility Manager, MRI-ABS, Mr. Idris Asunmo, said there was a police station situated within the complex, complemented by private security personnel on each floor, bomb detectors for all vehicles, fire hydrants and over 200 close circuit cameras with a monitoring room.

He stressed that to preserve the aesthetic of the market, a lot of preventive and corrective maintenance measures had been put in place. (Punch)[eap_ad_3]

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