The Lagos State government has commenced an urban renewal project in Iyana-Iba, Ojo local council, which aims to boost business activities, upgrade infrastructure, and elevate the quality of life in the region.
This project known as Platinum Shopping Complex, backed by the Lagos State Development and Property Corporation (LSDPC), Ojo local council, Almera Global Investment Services, First Trust Mortgage Bank, and MGE Realty Limited, is strategically located near the Specialist General Hospital, state’s university, and proposed Lagos Rail Mass Transit Purple Line.
At the groundbreaking ceremony, Governor Babajide Sanwo-Olu said the complex is part of a broader plan to revitalise the region. “We’re repurposing so that we can improve not only the transportation infrastructure but also the fiscal infrastructure. We have a lot of markets on the road, and a lot of people selling on the road.
“This is an attempt to bring them in into a more formal means. Let Ojo people live well like other parts of the city and see real development. It’s all a change and improvement, we believe that these will improve the socio-economic power of the people and citizens in this corridor,” he said.
He announced an 18-month timeline for the project, aiming to commission it before the end of his administration. He also assured residents that prices would remain affordable, and contractors would be supervised to ensure quality and cost-effectiveness.
“I will personally supervise it and ensure that it’s affordable and accessible for the citizens and dwellers of this community. We’ll make you the priority. It has to finish before the end of this administration,” he added.
The complex will feature over 1,290 shops, developed in four phases. Prices are set at N16 million depending on the shop’s location, for a lease of 20 years. The complex will include modern amenities such as spacious shops, ample parking, and round-the-clock security.
Sales Team Lead for Platinum Projects, Odu Celestine, highlighted the project’s goal of organising local trade. “We want to keep Lagos clean and safe by providing traders with structured and modern spaces. This project will also reduce road congestion and create more opportunities for businesses,” he explained.
Senior Public Affairs Officer, LSDPC, Oladipupo Olukunga, described the complex as a ‘hub’ that would transform the community’s trading culture and lifestyle.
He pointed out that the current area is filled with informal roadside shops and shanties, which the Platinum Shopping Complex aims to replace with a modern, well-structured facility that will complement existing markets such as the Trade Fair Complex.
Olukonga addressed concerns about affordability, saying that the units would be accessible to a wide range of traders and businesses. “We’ve worked with financial partners and contractors to ensure that the structure is affordable, even with the current economic realities,” he explained.
