EKO HOT BLOG reports that Dr. Mariya Mahmoud, the Minister of State for the Federal Capital Territory, has officially launched the construction of a modern market consisting of 618 shops in Zuba, Gwagwalada Area Council of the FCT.
During the inauguration ceremony held in Zuba on Saturday, Mahmoud revealed that the market project would be executed by Khuntex Engineering Company Ltd. through a Public-Private Partnership (PPP) agreement.
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She further explained that under this partnership, the Area Council would provide the land, while Khuntex would finance the entire construction of the market.
Mahmoud emphasized that the project would be completed within 20 months, divided into two phases of 10 months each. She highlighted that the market’s establishment would significantly contribute to economic resilience and social inclusion in the area.
The minister added that the market would also generate employment opportunities, enhance income levels, and promote skill development among rural youths.
According to her, the development is a testament of the FCT Administration’s commitment to the provision of critical infrastructures to residents, in line with the “Renewed Hope” agenda of President Bola Tinubu.
“To solve the problem of protracted funding, the Gwagwalada Area Council decided to explore private sector funding options.
“The move leverages the utilisation of private sector in exchange for land as a resource for the development of the Zuba Modern Market, amongst other PPP initiatives,” she said.
The minister stressed the importance of market infrastructure in rural areas, which she described as a lifeline for countless communities.
“However, inadequate infrastructure often hampers their efficiency and accessibility, hindering economic growth and perpetuating poverty.
“Public-private partnerships, therefore, offer a pragmatic solution to this challenge.
“By leveraging the strengths of both sectors, we can create sustainable market places that cater for the diverse needs of rural populations,” Mahmoud said.
She explained that markets provide a platform for farmers and artisans to sell their produce, goods, and services, and in turn improve the quality of life of rural dwellers.
Mahmoud said that the market would be equipped with modern facilities that would enhance the efficiency of agricultural value chains.
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She added that the market was also designed to empower rural entrepreneurs to access larger patronage and better prices for their products.
The Chairman of Gwagwalada Area Councils, Mr Abubakar Giri, said that the Zuba Modern Market, when completed, would boost the revenue base of the area council.
Giri also promised to revive other abandoned markets within the area council and urged the contractor to complete the project within the 20-month period.
In his remarks, the Chairman and Chief Executive Officer of the Khuntex Engineering Company, Mr Dayo Jigan, promised that the first phase of the project would be delivered in 10 months.
Jigan said that a set of 250 units of the shops would be completed in the first phase of the project.
He explained that the market would consist of mixed units of open/lock up shops, warehouses, eatery, banking hall, restaurant, police post, fire station, public toilet, bus loading bay and other amenities in line with global standard.
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