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Published On: Tue, Oct 22nd, 2019

Gov. Buni lays foundation for N2.84bn ultra-modern market

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From Uche Uche, Damaturu

Yobe State Governor, Hon. Mai Mala Buni has laid the foundation stone for the construction of a 9.6 hectare ultra-modern market in Damaturu, the state capital, at a total cost of N2.84 billion.
The market is located at the site of the existing Sunday Market, and would have a total of 600 shops and other essential facilities of an ultra-modern market.
Speaking during the occasion, Governor Buni stated the foundation-stone laying ceremony is a clear demonstration of his administration’s commitment to the economic development of the state, stressing that markets are an important building block of any prosperous economy and that buying and selling, the exchange of goods and services, always generates the momentum that results in more economic growth..
“With the new markets we are building in Damaturu and other towns across the state, we hope to unleash the power of the market to accelerate economic growth, provide jobs for the people and encourage the private sector to produce and to innovate,” he stated
He said the decision to build the ultra-modern market was informed with the dilapidated and inadequate structures in the market and the urgent need to boost economic growth, expressing confidence that doing so would ensure that the state have in place a standard and appropriate business environment and a one-stop location for all kinds of items and products in the state capital
He appealed to the traders and marketers who are the major beneficiaries of the project to cooperate with the construction company and with all relevant officials to ensure adherence to specifications and timely completion of the modern market.
He added that the construction of the market is in fulfilment of the promises made to the electorates during the electioneering campaign that brought his administration to power in the state.
He stressed that the shops to be constructed would be located to traders only, while calling on the youths to embrace trading rather than waiting for government jobs assuring that his administration is already providing training to youths to acquire skill and would also provide training for the youths in trading business as well as provide empowerment for them to engage in the business.
Speaking during the occasion, the permanent secretary in the ministry of commerce, industry and tourism, Alh.Goni Ali Gujba, the government has paid 30% mobilization fee to the contracting firm, Euro Afric Energy limited, and that the completion period is 12 months.
He pointed out that the government has paid the total sum of N120 out of a total sum of N186 million, as compensation to 249 out of a total number of 523 individual traders who has temporary allocation letters.
When completed, he said, it would boost the economic activities of both the state and Damaturu local government, improve internal generated revenue as well as provide employment opportunity for the teaming populace.

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