From Juliana Taiwo-Obalonye, Abuja
Minister of State for the Federal Capital Territory, Mariya Mahmoud, at the
official inauguration of phase 1 Kugbo International Market constructed by the Abuja Investment Company Limited, (AICL), has said that the market is poised to enhance local and national economies by fostering trade and commerce.
She emphasised that the market would generate government revenue through taxes, levies, and other charges, while also creating diverse employment opportunities in alignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
According to a statement issued by her media aide, Austine Elemue, she emphasised that the project marks a significant milestone in the commitment to economic growth, infrastructure development, and sustainable investment in the Federal Capital Territory.
According to her, “The Kugbo International Market is a testament to what can be achieved when public and private sectors collaborate with purpose.
“It is more than a trading hub. It is a thriving ecosystem designed to support businesses, empower entrepreneurs, create jobs, and attract both local and international investors.
“It is our hope that this market will become a vibrant centre of commerce, where ideas are exchanged, cultures are celebrated, and livelihoods are uplifted.”
Mahmoud hailed the Abuja Investment Company Limited for its unwavering dedication to driving economic development through impactful investments.
She also encouraged all stakeholders – traders, service providers, investors, and consumers to take full advantage of the opportunities the market presents.
Also speaking, Group Managing Director and Chief Executive Officer of Abuja Investment Company Limited, Maureen Tamuno, explained that one of the mandates of AICL is to attract, encourage, and promote private investment into key sectors through commercially-viable Public Private Partnership Projects (PPP).
Tamuno further explained that the Kugbo International Market was developed through development partner, Messrs. Mesotho Group Limited under a Build Operate and Transfer (BOT) arrangement where the government combines with the private sector to create profitable and sustainable public infrastructure.
She identified Small and Medium Enterprises (SMEs) as the backbone of any prosperous economy because they create jobs that drive sustainable economic growth.
While highlighting the commitment of the present FCT administration in promoting and encouraging entrepreneurs, Tamuno said shops would be gifted to hardworking traders from all the six area councils of the FCT.
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