Kugbo Market Traders Express Confidence In Investment Company

Traders of Kugbo International Market in the Federal Capital Territory (FCT) under the auspices of Mararaba Building Materials Traders Association (MBMTA) have expressed confidence in the agreement signed with a developer under the auspices of Abuja Investment Company Limited (AICL).

The Chairman Emeritus of MBMTA, Cosmas Agbo, who made this known to journalists while reiterating their commitment to the agreement, said some members of the association, after a 2017 Federal High Court ruling that the area being developed was allocated to individuals and not associations, approached AICL to be part develop the area for them.

He said the traders negotiated with AICL and signed an agreement with the company, adding that since then there had not been any issue with the agreement and that those that were involved in the project were satisfied with the execution so far.

Cosmas further said the allottees had been dealing directly with AICL and had nothing to do with Mesotho Group Limited, which is said to be building the market for AICL, saying that they were not aware of any association called the United Kugbo Market Traders Association (UKMTA).

“I am the Chairman Emeritus of the Mararaba Building Material Traders Association (MBMTA). I left active service just this June, and I have never heard of any association called United Kugbo Market Traders Association (UKMTA),” he said.

He explained that in August 2020, Mararaba Building Material Traders Association (MBMTA) had to write a disclaimer letter to the FCT minister on some claims regarding the market.

Also, the Secretary General of the FCT chapter of the National Association of Nigerian Traders (NANTS), Nichodemus Alumona, said he led the team of his association to the discussion that led to the allottees’ agreement with AICL.

He said National Association of Nigerian Traders (NANTS), being the umbrella body of all traders, had been monitoring the agreement and had not found any problem so far with the execution by AILC.

An allottee and former Secretary General of Mararaba Building Material Traders Association (MBMTA), Donald Odimkpa, who signed the 2020 disclaimer to the FCT minister, said the association still stood by the disclaimer.

It was learned that AICL, owned by the FCT Administration (FCTA), had in a publication in August, said the Kugbo International Market project was duly approved by FCTA.

The AICL publication reads in part: “The title to Plot 8279-E08 where the Kugbo International Market is being developed was granted to Abuja Investment Company Limited free of any encumbrance via an offer of statutory Right of Occupancy dated March 29, 2019, for the purpose of developing a district market to serve Nyanya and adjoining districts.

“All necessary approvals were obtained from the relevant authorities before the commencement of the project. One of such approvals was ‘Conveyance of Building Plan Approval’ by the Department of Development Control on October 10, 2019.”