Bus terminals in Lagos, Nigeria, have become not just transport interchange hubs but also heavy commercial zones. However, the inclusion of commercial activities such as kiosks, vending, retail stands, and informal trading often compromises the efficiency of circulation if poorly implemented. In this paper, commercial activity integration within the bus terminal, as well as the resulting impacts on circulation efficiency, are evaluated in three purposively selected terminals in Lagos, namely Oyingbo, Ikeja, and Oshodi. A mixed-methods evaluative framework was used, involving systematic observation of the sites under study, structured surveys (n = 136), semi-structured interview sessions with vendors (n = 20), spatial analysis, and comparative case studies of best practices from abroad. The results show that terminals featuring clearly defined commercial zones along with pedestrian passages reported much greater levels of user satisfaction with the quality of circulation. The rate of positive circulation assessment at Ikeja was 61.3%, while that of satisfaction with journey smoothness at Oyingbo reached 63.7%. Conversely, the congested commercial areas at Oshodi produced a 46.9% dissatisfaction with the quality of circulation. Informal commercial activity led to reduced passage widths, increased conflicts between pedestrians and vehicles, and lower spatial legibility.