The Niger State government has approved the sum of N5.7 billion for the relocation and construction of a new Madalla Market in Suleja local government area of the state.
The relocation of the market is aimed at addressing the chaotic traffic situation and fatal accidents at the market located on Abuja- Kaduna Expressway.
The state commissioner for Investment, Commerce and Industry, Hon. Mudi Mohammed, who announced the approval of the money yesterday in Minna, said the decision was taken at the meeting of the State Executive Council (SEC).
Mohammed said that the new market would be built under a Public-Private Partnership (PPP) arrangement of “ Built, Operate and Transfer” at the cost of N5.7 billion.
He said: “Madalla Market has become an issue of concern to the state government as a result of frequent accidents occurring within the market likewise the toll its activities has on free movement of vehicles along the Kaduna-Abuja Expressway. This obviously does not speak well for the traders and commuters on the road and also for commercial activities in the area.”
“It is on this note that the Ministry of Investment proposed the relocation and construction of the new market which was duly approved at the cost of N5.705billion for a period of 15 years,” Mohammed said.
The commissioner stated that “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 the 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. “
Mohammed said that the state government was optimistic that the relocation of the market would bring about development to the state, check the unnecessary accidents occurring within the market, improve urban sanitation and increase the internally-generated revenue of the local government and the state.