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The Federal Government has approved a ₦5 billion intervention fund for traders affected by the recent fire outbreak that gutted parts of Singer Market in Kano, offering a lifeline to hundreds of business owners who suffered heavy losses.
The donation was announced by Vice President Kashim Shettima during a condolence visit to the market on Monday, days after the devastating inferno disrupted commercial activities in the historic trading hub.
Addressing victims and stakeholders during the visit, Shettima said the financial support was designed to help traders recover from the disaster and revive economic activities within the market.
“President Bola Ahmed Tinubu has approved the sum of N5 billion to support traders affected by the Singer Market fire. The Federal Government stands with you in this moment of hardship and will continue to provide the necessary support,” the Vice President said.
The fire, which broke out last Saturday, destroyed goods and property valued at several billions of naira, plunging many traders into distress and drawing nationwide concern.
Describing the incident as a tragedy with far-reaching implications, Shettima noted that the loss went beyond Kano State and should be seen as a setback for the entire country’s economy.
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The Vice President was accompanied on the visit by the governors of Jigawa, Kebbi and Imo states. He offered prayers for the affected traders and sought divine intervention to avert similar disasters in the future.
Also speaking, the Chairman of the Singer Market Traders Association, Junaid Zakari, commended the Federal Government for what he described as a swift and compassionate response.
Zakari assured that the funds would be carefully managed to support affected traders and facilitate the speedy restoration of business activities in Singer Market, one of Kano’s major commercial centres.
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