Niger Govt to Spend N5.7bn on Relocation of Madalla Market
The Niger State Government will spend not less than N5.7 billion for the relocation of Madalla Market along Abuja-Kaduna highway owing to perennial traffic gridlock, perpetual accidents and environmental hazards.
Commissioner for Investment, Commerce and Industry, Hon. Mudi Mohammed announced the approval after the weekly state executive council meeting in Minna, the state capital.
The new market which would be built under a Public Private Partnership (PPP) arrangement of “Built, Operate and Transfer” will cost N5.7 billion.
According to the Commissioner, “Madalla Market has become an issue of concern for the state government as a result of perpetual accidents occurring within the market likewise the toll it’s activities has on free movement of vehicles along Kaduna -Abuja Express way. This obviously does not speak well for the traders and commuters on the road and to commercial activities in the area.
“It is on this note that the state ministry of investment proposed for the relocation and construction of the new market, which was duly approved at the cost of N5,705,422,422,032 for a period of 15 years”
“As planned, the state government will need three years for construction of new stalls, two years for sales to traders and give five more years for the management of remaining stalls not sold by the government, if any. We will be giving five more years for the developer to recoup his money, in case he fails to do so before then. ”
Muhammed further said that the government is optimistic that the relocation will bring about development to the state, eliminate the unnecessary accidents occurring within the market, improve urban sanitation and increase the internally generated revenue of the local government and the state.
He added that “the relocation will, most importantly, provide employment opportunities to our teeming youths as a lot of jobs will be created”