The Maiduguri Monday market, which was reconstructed after being completely destroyed by fire on February 26, 2023, has been officially opened by Borno State Governor Babagana Umara Zulum.
At least 8,000 traders who rent shops and pay rent to the state government through the market authority will not be required to pay rent for the next two years due to the significant losses they sustained during the fire outbreak, the governor declared during the commissioning on Monday.
“As you may recall, a fire destroyed the Maiduguri Monday Market in February 2023. A committee was formed by the government of Borno State to reconstruct the market. Over 8,000 dealers will now profit from the market’s renovation, which has already undergone a complete rehabilitation, according to Zulum.
The expanded and completely redesigned market structure included a more convenient and organized area for commercial operations.
With its broader walkways, defined areas for various product categories, and some basic services, the market has now been transformed into a place that welcomes shoppers.
In addition to the additional one billion naira palliative handed to the victims of the fire calamity, Zulum had released two billion naira in February to the committee set up to manage market-related activities.
At the commissioning, the governor also offered N800 million in assistance for 2,825 traders who were unable to obtain shops due to the market’s remodeling.
They had previously run their businesses out of makeshift huts and market stalls, some of which were illegal.
Explaining the situation, Zulum stated:
“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.”
He continued:
“As a result of the remodelling, over 2,000 traders who either operated at a temporary site [or] built shops illegally on waterways could not get shops in the market. However, the government will support over 185 of them with one million naira each; 2,000 others will get N300,000 each and about 640 will receive N100,000 each.”
The governor promised that the 2,825 traders would be allocated shops at a new market to be sited in Maiduguri.