FG DONATES ₦5BN RELIEF FUND FOR SINGER MARKET FIRE VICTIMS

The Federal Government has approved a ₦5 billion financial intervention to support traders affected by the devastating fire outbreak at Singer Market.Vice President Kashim Shettima disclosed this while addressing the impact of the disaster, noting that the intervention is aimed at helping victims rebuild their businesses and revive economic activities in the market.INCIDENT DETAILSThe fire incident, which destroyed goods and properties worth billions of naira, left many traders stranded and counting heavy losses. While the full assessment of damages is still ongoing, early reports indicate that several shops and trading sections were completely razed.GOVERNMENT RESPONSEAccording to Shettima, the ₦5 billion support package is part of broader federal efforts to cushion economic shocks affecting small and medium-scale businesses.He emphasized that the government “stands with” affected traders and is committed to ensuring they return to business as quickly as possible.The intervention is expected to provide direct financial support and stimulate recovery within the affected commercial area.