The Federal Capital Territory Minister of State, Dr. Mariya Mahmoud has stated that the Kugbo International Market will promote local and national economies through increased trade and commerce.
The minister also said that the market will generate revenue for the government through taxes, levies, and other charges, including providing employment opportunities for a wide range of people in line with the Renewed Hope Agenda of President Bola Tinubu.
Mahmoud made these assertions during the official inauguration of phase 1 of the Kugbo International Market, constructed by the Abuja Investment Company Limited (AICL).
She emphasized that the project marks a significant milestone in the commitment to economic growth, infrastructure development, and sustainable investment in the Federal Capital Territory.
“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,” she said.
The minister 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.
Group Managing Director and Chief Executive Officer of the Abuja Investment Company Limited, Amb. Maureen Tamuno, explained that one of the mandates of the company is to attract, encourage, and promote private investment into key sectors through commercially viable public private partnership projects.
Tamuno further explained that the Kugbo International Market was developed through development partner, Messrs. Mesotho Group Limited under a build operate and transfer 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, she said shops would be gifted to hardworking traders from all the six area councils of the FCT.
This she said would demonstrates the commitment of the current administration, led by President Tinubu, to make the empowerment of SMEs a reality.
