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. TVs, laptops, phones—everything was "non-tested." People were rushing in.

My Expensive Education

I thought, "No wahala, let me try."

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.

At this point, I couldn't return it. The deal was done. The pain was real.

But instead of giving up, I went back. They said add more money for a better phone. So I did.

The second one? Even worse than the first.

I went home defeated. Confused. Angry at myself.

The Lesson

I told my friend what happened. He laughed:

> "Guy, you no suppose buy non-tested! Most of those products no good—dem don chop your money!"

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

The "Non-Tested" Trap in Business

There are many "non-tested" traps in business:

• Suppliers who deliver bad goods
• Partners who don't perform
• Investments that promise returns
• Deals that seem too good

The rule: If you can't verify it, be very careful.

The Takeaway

The market isn't evil. It has rules. Some people play fair, some don't.

Your job is to:

1. Learn the rules before playing

2. Verify before committing

3. Start small, test, then scale

4. Build relationships with trusted people

Alaba taught me this at the cost of two phones. I hope you can learn it cheaper.

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