The Federal Capital Territory (FCT) has officially commissioned the first phase of the Kugbo International Market, a landmark project poised to revolutionize trade, support small businesses, and enhance job creation within Abuja and beyond.
Unveiled by Dr. Mariya Mahmoud, Minister of State for the FCT, the market was developed under a public-private partnership and is set to play a vital role in advancing economic development while aligning with President Bola Tinubu’s Renewed Hope Agenda.
A Hub for Entrepreneurial Empowerment
Constructed through a Build-Operate-Transfer (BOT) model between the Abuja Investment Company Limited (AICL) and Mesotho Group, the market features:
- Over 1,600 business spaces, including lock-up shops, terrace outlets, and warehouses.
- Modern infrastructure such as banking halls, a fire station, health clinic, and restaurants, tailored to enhance convenience and safety for traders and customers alike.
According to Dr. Mahmoud, the market is more than just a place of commerce—it is an economic ecosystem. “This project is about creating opportunities, fostering innovation, and attracting investment,” she remarked.
Tackling Core SME Challenges
Speaking at the inauguration, Amb. Maureen Tamuno, CEO of Abuja Investment Company Limited, emphasized how the project directly addresses barriers faced by SMEs, particularly lack of access to capital and affordable business spaces.
In a bid to promote inclusivity and grassroots development, Tamuno revealed that select shops will be donated to deserving traders from the six area councils in the FCT. “This is part of our broader effort to drive inclusive economic empowerment and uplift hard-working entrepreneurs,” she stated.
A Boost for Local and Regional Economy
With its expansive layout and state-of-the-art facilities, the Kugbo International Market is expected to:
- Attract local and international investors.
- Generate significant revenue for the government.
- Enhance trade flows across the FCT and neighboring regions.
The market’s launch underscores the FCT administration’s commitment to building business-friendly infrastructure that stimulates economic growth, strengthens the SME sector, and supports Nigeria’s wider development goals.
As more phases of the market are completed, Kugbo is set to become a model trading hub—one that blends accessibility, innovation, and opportunity for Nigeria’s emerging business class.
