Nyesom Wike Launches Second Solar Power Market in Abuja
Within a day of inaugurating Abuja’s inaugural solar power market, Federal Capital Territory (FCT) Minister Nyesom Wike has introduced another solar power market in the region.
Kugbo International Market Overview
The newly commissioned Kugbo International Market, which attracts around 20,000 visitors daily, features 5,200 stalls, 20 warehouses (including underground storage, 20 cold rooms), 10 restaurants, banks, clinics, as well as police and fire stations.
Recent Developments in Local Markets
This latest opening follows Wike’s earlier announcement on Friday regarding the management of the Utako Farmers Market, further underscoring his commitment to boosting local trade.
Minister’s Vision for Economic Growth
During the inaugural event for the first phase of the 1,600-store Kugbo International Market, Wike expressed confidence that the facility will play a vital role in enhancing economic growth in both the region and Nigeria through improved trade and commercial activities.
Public-Private Partnership Model
The market operates under a public-private partnership (PPP) between Abuja Investment Company Limited (AICL) and Mesotho Group Limited, structured under a Build-Operate-Transfer (BOT) agreement. Wike emphasized that this initiative is a testament to the potential outcomes when the public and private sectors collaborate with a unified purpose.
Impact on Employment and Investment
Wike noted that the Kugbo International Market is more than just a trading hub; it is designed to foster a supportive ecosystem for businesses, empower entrepreneurs, generate jobs, and attract both domestic and international investors. He highlighted how the market will create significant revenue streams for the government through taxes, levies, and fees, while also providing employment opportunities for various stakeholders including traders, artisans, and logistics operators. This aligns with President Bola Ahmed Tinubu’s New Hope Agenda.
Leadership and Strategic Investments
Wike commended the leadership of Ambassador Maureen Tamuno from AICL for her role in driving economic advancements in the FCT. He acknowledged that under her guidance, AICL has successfully attracted strategic investments and partnerships, emphasizing Abuja’s substantial investment prospects.
Community Support Initiatives
As a highlight of the day, the event featured the introduction of 120 free shops to residents across six regional councils, with 20 traders from each council receiving complimentary store spaces through the efforts of the FCT Minister.
Commendations from Key Figures
In their goodwill messages, prominent figures including former Speaker of the House of Commons, Rt. Jakub Dogara, and Professor Jerry Gana, a former Minister of Information, lauded the collaborative efforts of the FCT Ministers and expressed gratitude towards Ambassador Tamuno for her commitment to the capital’s economic progress.
