The Federal Government has commissioned a new 2,500-stall market in Karmo District, Abuja, aimed at boosting commercial infrastructure and economic development in the Federal Capital Territory (FCT).
Speaking at the commissioning ceremony yesterday, the Minister of the FCT, Barr. Nyesom Wike, represented by the Minister of State for the FCT, Dr. Mariya Mahmoud Bunkure, said the project was executed in collaboration with Rural Homes Limited.
He noted that the market was strategically designed to provide a well-structured, modern business hub for traders, entrepreneurs, and investors while aligning with the administration’s vision of fostering economic growth, creating employment opportunities, and ensuring a more organized trading environment.
“This market is designed to generate employment, unlock real estate value chains, and eliminate the prevalence of informal markets, ensuring a well-structured urban commercial landscape,” he stated.
He added that the market is equipped with state-of-the-art facilities, including spacious shop units, ample parking, security provisions, and essential modern amenities to facilitate seamless business operations.
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Also speaking, the Managing Director of Rural Homes Limited, Hajia Sa’adatu Aliyu, emphasized the significance of the project, revealing that the market sits on a 10-hectare expanse and was developed in partnership with Abuja Investment Company Ltd.
“We have zoned the market to include a dedicated farmers’ section, which is uncommon in most markets. We recognize the need for modernization, and Nigeria must move forward. This facility includes 2,500 shops and stalls, cold rooms, warehouses, and standard commercial spaces,” she said.
She further explained that the market features duplexes suitable for offices, microfinance institutions, and banks. Additional amenities include a clinic, fire service, and a designated central hub comprising 750 shops. The market also accommodates small and medium enterprises (SMEs) with various shop sizes, ranging from nine to 44 square meters.
“This project is a testament to young entrepreneurs collaborating with the government to drive meaningful development. We are grateful to the Federal Capital Development Authority (FCDA) and the Honourable Minister for their support,” Aliyu added.
On affordability, Aliyu assured prospective buyers that flexible payment plans are available to ease financial commitments. She noted that shop prices are lower than those in other markets, with over 50% of the spaces already sold through strategic partnerships, cooperatives, and financial institutions.
The commissioning of the Karmo District Market marks another step in the government’s commitment to providing structured commercial spaces that drive economic expansion and urban development in the FCT.
