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    MarketForces Africa » MarketForces News » Hardship: Muslim Group Sets up Market of Convenience in Lagos

    Hardship: Muslim Group Sets up Market of Convenience in Lagos

    Julius AlagbeBy Julius AlagbeNovember 24, 2024 News No Comments2 Mins Read
    Hardship: Muslim Group Sets up Market of Convenience in Lagos
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    Hardship: Muslim Group Sets up Market of Convenience in Lagos

    Some Muslim scholars, under the umbrella of the League of Islamic Leaders in Mushin, Lagos, have established a market called Market of Convenience (MFC) where foodstuffs, in particular, would be sold at reduced prices.

    The scholars held a one-day sensitisation program on Sunday in Lagos on the need for Muslims to embrace MFC.

    The convener of the program and chairman of MFC, Alhaji Musoddiq Sanni, urged religious leaders to embrace the market.

    Sanni said that the Muslim community established the market as a strategy to contribute its quota to tackling economic hardship in Nigeria.

    The chairman said that the MFC would serve as an alternative market for Lagos residents.

    “This is where they can do shopping for food items,” he said.

    He expressed the hope that the market would ease the economic difficulties faced by Lagos residents.

    “There is a need for a platform like this MFC.” Allah has commanded us in the Qur’an to maintain justice and fairness during business transactions.”

    He advised Muslim leaders in Ikeja to establish a branch of the market there to make food items affordable for the community.

    He emphasised the importance of corporative societies.

    He said that the League of Islamic Leaders would come up with a blueprint for the operation of the market in conformity with the Sharia (Islamic Law).

    “We have registered the Market of Convenience with the Corporate Affairs Commission and the Lagos State Ministry of Agriculture.”

    The Chairman of the League of Islamic Leaders in Mushin, Lagos, Alhaji Sulaimon Olanijo, urged other Muslim groups to embrace the new market system.

    This, he said, would help to reduce hardship facing Muslim communities and support the Federal Government’s agenda on food security.

    Olanijo said that with the cooperation of Muslim leaders, it would be possible to establish an Islamic foodstuff market in various communities.

    The Chairman of the Council of Imam, Ikeja Division, Alhaji Abdul-Rahmon Abdul-Azeez, commended the convener of the programme for efforts.

    Abdul-Azeez said that prices of foodstuffs had increased much, adding that harnessing the potential of Market of Convenience would go a long way to reduce hardship in Nigeria. #Hardship: Muslim Group Sets up Market of Convenience in Lagos#


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    Lagos Market o Convenience
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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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