Expert’s advice on insurance as Agarawu Tools Market commissions shopping complex
Insurance experts have advised the leadership of Agarawu Tools Market to embrace insurance for the protection of their assets and wares, as the association relocates to its newly commissioned N3.56 billion shopping facility at the International Trade fare Complex, Lagos.
Members of the Nigerian Insurers Association (NIA) who commended the investment made on building the shopping complex said it will become more meaningful if insurance is put in place to protect the assets, as market fire and other sundry risks have cost traders and the nation huge fortune in the past.
More than 2,550 members of the Tools and Hardware Dealers Association of Nigeria [TAHDAN] has moved out of Idumota, shutting down business activities at the ever busy Agarawu Street Tools Market on the Lagos Island.
This followed Tahdan’s successful completion and opening of their new ultra modern “Tools And Hardware Center” sited inside the Lagos International Trade Fair Complex along Badagry Express Way which gulped about N3.56billion on its completion.
Commenting on the development, President of the association Jude Obika expressed appreciation towards his members for their commitment and selfless sacrifices during the construction of the market, adding that
“this is a great and unimaginable effort of which we are already reaping the dividends, and this will pass on to the future and unborn generations. But my greatest joy is that we have been able to contribute to the building of our dear nation Nigeria by humbly erecting this monumental center for international trade, economic empowerment, massive employment and industrial growth.
According to the scribe of the association Felix Nnadi who spoke in a separate interview with newsmen, “ the Tools and Hardware Dealers Association is made up of over 2,550 members excluding apprentices. Each member contributed a minimum of N850,000 to own a shop here, while personal plazas cost from N120million and above depending on the size or design of each structure. There are 3,000 lock up shops and 26 personal plazas in all. “ says Nnadi.
The multibillion Tools And Hardware Center is comfortably located on all that 5,000 square meter area of land formally known as Swiss Park facing the Progressives Jewelry Market. Apart from providing adequate and spacious shops for use as showroom, packing store and office apartments for all the traders and importers in particular; the Vice President of TAHDAN, Kenneth Ugbajah enumerated other gains which accompany the traders movement:
“here, we also enjoy freedom from landlords and Area Boys harassments; free space for car park, shopping and vehicular movement; very clean and business friendly environment; and above all, the gesture is in support of the Lagos State government’s Mega City transformation agenda which aims at decongesting and ending street trading everywhere in Lagos.”
Modestus Anaesoronye