- Announces N800m for 2,825 traders
Borno State Governor, Babagana Zulum, on Monday, commissioned the Maiduguri Monday market which was rebuilt after it was razed by fire on February 26, 2023.
The governor also announced that about 8,000 traders who rent shops and pay rent to the state government through the market authority will not have to pay rent for the next two years because of the huge losses they suffered during the fire.
“As you would recall, Maiduguri Monday market was burnt down by fire in February 2023. Borno State Government set up a committee to rebuild the market. The market has now been completely rehabilitated with over 8,000 traders to benefit from the remodelled market,” Zulum said.
The remodelled market structure involved a comprehensive redesign and expansion plan with a more organized and accessible space for business activities.
It has wider walkways, designated zones for different product categories, and some basic facilities all of which have now transformed the market into a shopper-friendly destination.
Zulum had, in February, released N2b to the committee constituted to administer activities relating to the market with additional N1b as palliative to victims of the fire disaster.
Governor Zulum at the commissioning, announced N800m support to about 2,825 traders who were unable to be allocated shops after the remodeling.
They hitherto operated in temporary shades and market stalls while some operated illegally.
“In the course of the reconstruction exercise, the committee recommended the remodelling of the market because it was found that the congestion in the market had contributed to the escalation of the fire incident”, Zulum stated.
The governor continued, “As a result of the remodelling, over 2,000 traders who either operated at a temporary site, built shops illegally on water ways, could not get shops in the market. However, the government will support over 185 of them with N1m each, 2,000 others will get N300,000 each and about 640 will receive N100,000 each”, Zulum also said.
The governor promised that the 2,825 traders would be allocated shops at a new market to be sited in Maiduguri.
