FG Inaugurates Market with 2,500 Stalls in Abuja

Folalumi Alaran in Abuja

The federal government has inaugurated a new   market  with 2,500 stalls in Karmo District of Abuja. Speaking during the inauguration  yesterday, the Minister of Federal Capital Territory(FCT), Nyesom Wike, said the project, in collaboration with the Rural Homes Limited, was constructed to enhance commercial infrastructure and economic development within the Federal Capital Territory. 

He said the Karmo District Market has been strategically developed to provide a well-structured and modern business hub for traders, entrepreneurs, and investors and aligns with the current administration’s plan to foster economic growth, creating employment opportunities, and ensuring a more organized trading environment. 

“Additionally, it is designed to create more job opportunities and tap into the untapped value chain of real estate, driving further economic expansion and investments within the sector, eradicate the use of informal markets, and maintain the urban culture, driving further economic expansion and investment within the sector.”

The minister, who was represented by the Minister of State for the FCT, Dr. Mariya Mahmoud Bunkure, noted that the market is equipped with state-of-the-art facilities, including spacious shop units, ample parking, security provisions, and essential modern amenities to support seamless commercial activities. 

Speaking on the significance of this project, the Managing Director of Rural Homes Limited, Hajia Sa’adatu Aliyu, said the market which sits on  10 hectares of land is  under partnership with Abuja Investment Company Limited market. 

“We have zoned this market into farmers market separately which you don’t typically see in most markets but we understand that times are going on, modernisation is coming and Nigeria also needs to move forward. This is what we try to achieve with this market. It is a 2,500 shop and stalls unit with cold rooms, warehouses, standard warehouses, 100 hectares, 100 square meters rather, 12 meters high.”

“We have duplexes here, you can do your offices, your microfinance, we have banks available in this very market. We have clinic, fire service, 99 square meters which we call the hub of the market, over 750 shops and nine square meters which is going to cater to SMEs as well as the 44 square meters that are here as well. So this market really is a testament to young people coming together to put an initiative in partnership with the government and this is something that works and we’re so grateful to the FCDA, especially our Minister, Honorable Minister.”

On the affordability of the stalls, she said there is payment plan buyers can opt for to ease their payment, adding that the shops priced lower than other markets as over 50 percent of the market have been sold and was done through partnerships, cooperatives, banking, financing the project.