Categories: Business

Yola Town Market Set for Revival as Adamawa Approves N2.9 Billion Reconstruction

The Adamawa State government has announced plans to reconstruct Yola Town Market, which was razed five months ago.

During a visit to the market, Professor Kaletapwa Farauta, the Deputy Governor, said the government was yet to ascertain the cause of the inferno and pledged to support the affected traders.

Farauta stated that the exact number of affected traders is yet to be determined, but the government would do everything possible to provide them with the necessary assistance.

“We are here to commiserate with our brothers and sisters who have been affected by this fire incident.

“The government will look into what has happened, as the source of the fire and the number of burnt shops is yet to be ascertained,” the deputy governor said.

However, in a recent development, the Adamawa State Commissioner for Commerce and Industry, John Dabari, revealed that the state government has approved the sum of N2.9 billion for the reconstruction of the market.

Dabari, who spoke after a meeting of the State Executive Council (SEC) presided over by the deputy governor, Kaletapwa Farauta, at the Government House in Yola, disclosed that the reconstruction of the market is set to be completed in nine months.

Investor King understands that the fire outbreak halted business activities in some parts of the town market.

However, with the government’s decision to rebuild the market, the resumption of full commercial activities is guaranteed.

The new market, which is expanded to house 69 modern shops, features a modern architectural plan and design.

According to Dabari, traders and business owners can rest assured that the modern design will reduce the risk of future fire outbreaks in the new market.

Bassey Marshall

Share
Published by
Bassey Marshall

Recent Posts

Dollar to Naira Black Market Exchange Rate Today, 22nd January 2025

The dollar to naira exchange rate continues to be a focal point in Nigeria's financial…

9 hours ago

Pounds to Naira Black Market Exchange Rate Today, 22nd January 2025

The pounds to naira exchange rate continues to be a critical topic in Nigeria’s financial…

9 hours ago

MTN Nigeria Secures NCC Approval to Renew and Harmonise 800MHz Spectrum Licences

MTN Nigeria Communications PLC has received approval from the Nigerian Communications Commission (NCC) to renew…

14 hours ago

CAC Strengthens Compliance and Enforcement Responsibilities, Targets Business Formalization

The Corporate Affairs Commission (CAC) has outlined plans to enhance its compliance and enforcement responsibilities,…

15 hours ago

Nigeria Could Generate Over $2 Billion from Carbon Market by 2030 – UNN

The University of Nigeria, Nsukka (UNN), has projected that Nigeria could earn over $2 billion…

15 hours ago

Trump Restricts Citizenship Rights for Babies of Undocumented Parents

President Donald Trump has signed an executive order titled “Protecting the Meaning and Value of…

20 hours ago