|Written by Kingsley Adegboye|
|Friday, 01 May 2009|
About four decades ago, the area of Lagos now nostalgically referred to as Old Yaba, was one of the most sought after real estates in Lagos metropolis.
It was host to Nigeria’s emerging middle class elite immediately after independence. The area boasted of well-planned roads, beautiful houses displaying contemporary architecture of the time and hosted many great schools that have produced many leaders of our country. Indeed, it was treasure house to Nigerian social, music and entertainment life.
Domino Stores folded up, Mainland Hotel struggled to attract clientele in spite of investments, Oyingbo Market could not find investments for its re-development, Railway Compound depreciated as a prime real estate, Iddo a historic settlement in the history of Lagos and Otto became slums while property values slumped.
This was the situation of Sabo Yaba before the intervention of the Babatunde Fashola administration. In his address at the commissioning of the upgraded Montgomery Road, Commercial Avenue and Aje Street, Yaba on Tuesday, Governor Fashola said during his campaign, he promised to rebuild Oyingbo Market and return the glory of Yaba.
He pointed out that in fulfilment of that promise, the construction of Oyingbo Market has commenced in earnest. “We have developed a comprehensive plan for the reconstruction of 37 roads in Yaba in phases in order to renew the infrastructure.