What Alaba Market Taught Me: If You Don't Know How the Market Works, It Will Use You

My First Trip to Alaba

I traveled to Lagos for the first time during a long vacation. Staying near Ikeja, close to Alaba Market—the famous electronics hub of Nigeria.

They say business runs in blood. So I decided to walk through Alaba and see how market works.

The Counter-Balance System

I saw something interesting: phone exchanges. They called it "counter-balance."

Bring the phone you have, add small money, and carry a better phone home.

Then I heard another term: "Non-tested."

Once you haven't paid, you can't open and test the item.

My Expensive Education

I exchanged my phone, added money, collected the new one, and went home.

Once I got home and opened the phone—no good! Not working.

That day I learned: If you don't know how the market works, the market will use you.

What This Means for Your Business

Every market has rules. Written and unwritten.

Before You Enter Any Market

1. Learn the rules - Talk to people who know

2. Understand the risks - What could go wrong?

3. Start small - Test with little before committing big

4. Find trusted sources - Not everyone is out to help you

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*In business, knowing your numbers protects you. Our Vendor Compliance Checker helps you verify business partners before you commit.*