On Thursday 15 September 2022,Governor Nasir El-Rufai and the Managing Director Kaduna Markets (KMDMC) handed over ownership documents of shops under the “Sale of Shops Project” at Sheikh Abubakar Mahmoud Gumi Market.
The project was initiated in September 2019 to transfer the ownership titles of all 6546 units of shops in the market to traders on an “owner-occupier” basis,as a means of empowerment.
Previously, traders in Sheik Gumi Market paid annual rent to KMDMC and were entitled to provisional allocations only.
The project has given traders the right to own their business premises. Additionally, it has provided access to finance as traders with Right of First Refusal are entitled to single digit mortgage over a period of 7 years.
PricewaterhouseCoopers (PwC) & Dikko and Mahmood Solicitors were engaged as financial and legal advisers respectively to ensure transparency.
So far;
* N3.7bn has been generated as revenue for Kaduna State.
* Over 6,000 shops allocated.
* N88.5m received in tax clearance
* 2000 business premises registrations issued
* Over 5000 New Kaduna Residency Cards issued.
