Being an abridged version of speech delivered by Governor Mai Mala Buni during the groundbreaking of Damaturu Ultra-Modern Market, on Friday.
Some of you may recall that on May 29th, 2019 during our inauguration, we made policy pronouncements that our administration will embark on the construction of modern markets across the state.
The construction of the Damaturu Ultra-Modern Market clearly demonstrates our commitment to the economic development of our state.
I want to thank the people of Damaturu and indeed the entire state for the enthusiasm shown for the project.
Markets are an important building block of any prosperous economy. Buying and selling – the exchange of goods and services – always generates the momentum that results in more economic growth.
With the new markets we are building in Damaturu and other towns across the state, we hope to unleash the power of the market to accelerate economic growth, provide jobs for the people and encourage the private sector to produce and to innovate.
The Damaturu Ultra-Modern market will be built by EURO AFRIC ENERGY LTD at the cost of two billion, eight hundred and thirty-seven, six hundred and ninety-seven, five hundred and fifty naira and twenty-five kobo (N2, 837, 697, 550.25). The project will entail the construction of open and lock-up shops, administrative building, wall fencing, exit gates and gate houses, concrete pavements, mosques, roads and drainage, electrification, water supply, parking lots, toilets, and fire service and police outposts, amongst others.
The market, according to our agreement with the construction company, will be completed within a period of 12 months.
It used to be that the running of the Damaturu Sunday Market was vested in the Damaturu Local Government Council. That was the case since the creation of our state over 28 years ago. But times have changed. With the dilapidated and inadequate structures in the market and the urgent need to boost economic growth, we thought it is necessary for us to intervene at the state level; and this is exactly what we are doing right now.
We are confident that this would ensure that we have in place here in the state capital a standard and appropriate business environment and a one-stop location for all kinds of items and products.
I want to stress that in keeping with our determination to further develop the state, we would continue to provide incentives for individuals and organisations to invest and to launch new business ventures and to grow the economy.
I want to urge the people of Damaturu, particularly the traders and marketers who are the major beneficiaries of this project to cooperate with the construction company and with all relevant officials to ensure adherence to specifications and timely completion of the modern market.
To ensure that the objectives for which the market is built are fully achieved going forward, we plan to incorporate it as a Limited Liability Company. At my direction, the acting Secretary to the State Government will therefore immediately commence work for the drafting of the enabling law for the establishment, powers and functions of the market.
With these being said, it is now my singular honour and duty to flag off the construction of the Ultra-Modern Market, Damaturu.
– Buni is the Gov of Yobe State.
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