Governor Babagana Zulum of Borno State, on Monday, reopened the rebuilt Maiduguri Monday Market, waiving two-year rent for the 8,000 traders renting shops there.
The governor said the gesture was to enable the traders to substantially recover from the huge losses they incurred from a fire outbreak at the market in February.
Zulum also announced N800m support for about 2,825 traders who could not be allocated shops in the remodelled market.
“As you would recall, Maiduguri Monday Market was burnt down by fire in February 2023. The 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.
“For the next two years, you will not have to pay any rent to the market authorities due to the huge losses you incurred during the fire,” Zulum said.
Zulum had, in February, approved N2bn for the rebuilding of the market while N1bn was approved as palliatives for the traders.
“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 contributed to the escalation of the fire incident.
“As a result of the remodelling, over 2,000 traders who either operated at a temporary site, built shops illegally on waterways, 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 added.
