Kugbo Market Will Boost FCT, National Economies – Minister

Minister of State for the Federal Capital Territory (FCT), Mariya Mahmoud, has said the Kugbo International Market would promote local and national economies through increased trade and commerce.

Mahmoud also said the market would generate revenue for the government through taxes, levies and other charges and more importantly, provide employment opportunities for a wide range of people in line with the Renewed Hope Agenda of President Bola Tinubu.

She spoke during the official inauguration of Phase 1 Kugbo International Market constructed by the Abuja Investment Company Limited (AICL).

The minister said the project marked a significant milestone in the commitment to economic growth, infrastructure development and sustainable investment in the FCT.

“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.

The group managing director and chief executive officer of Abuja Investment Company Limited, Amb. Maureen Tamuno, explained that the market was built through a 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.