The Association of Nigeria Tyre Marketers inaugurate N2.9bn shopping arcade

Association of Nigeria Tyre Marketers N2.9bn shopping arcade.

The Association of Nigeria Tyre Marketers has opened for business its permanent business site, the Africa Tyre Village, at the Lagos International Trade Fair Complex.

The association said the commencement of business at the complex followed the official opening of the second phase of the international shopping arcade, which gulped N2.9bn.

The President of the association, Mr. Issa Akanbi, said 1,000 lock-up shops had been allocated to deserving members of the body and other stakeholders for business.

Akanbi said the modalities for shop allocation were based on the need for the traders to remain resolute and consistent in their quest for freedom.

He said, “The sharing formula was based on loyalty as the shops were oversubscribed. While at Enu-Owa Street, Idumota, about 19 months ago, we were merely slaves to our landlords. Our decision to move the market out of Lagos Island naturally attracted enormous challenges both to us as a union, as well as to our individual members.

“But this is nothing compared to the benefits of this place; because here, we are genuine, legitimate and happy; and more essentially, we have our freedom.”

The Vice-President, ANTM, Mr. Okey Ezeifeoma, said the development of the Africa Tyre Village was split into two phases due to the inability of the members and investors to meet the basic financial requirements for the entire project at the early stages of work.

He added that the financial setback resulted in the association forfeiting about 50 per cent of the portion of land allocated to it by the Trade Fair Complex Management.

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Ezeifeoma said, “It took the wisdom of this administration to concentrate on finishing and moving into the phase one of the project, which we achieved in January 2014. But despite all this landmark success and breakthroughs, some disgruntled members still locked their shops and went back to Enu-Owa Street, Idumota under the excuses of low sales and far distance from the main city.

“This delayed the final completion and sharing of this second phase, which was almost ready as of August last year, as we made all necessary efforts to woo those runaway members back to the fold. Today’s event marks the peaceful conclusion of this long journey, which started about six years ago.”