Okpebholo Rebuilds Market After Fire Incident, Disburses N200 Million to Affected Traders
- Edo State Governor, Monday Okpebholo,, has announced the rebuilding of POWA Market in Ekpoma
- The market was involved in a fire outbreak that displaced traders and disrupted businesses
- There is also N200 million in relief funds was disbursed to affected traders, with each getting N8 million
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
A major recovery effort has been completed for traders affected by the recent fire outbreak at POWA Market, as Edo State Governor, Monday Okpebholo, announced the rebuilding of the market and the disbursement of financial support to victims.
Speaking during the official presentation, Okpebholo revealed that a total of N200 million had been distributed to affected traders, with each shop owner receiving N8 million to help restart their businesses.
Source: UGC
The intervention comes just days after the governor pledged swift action following the devastating fire incident that disrupted livelihoods in the community.
Okpebholo said:
“A few days ago, I made a promise to the traders affected by the POWA Market fire in Ekpoma. Today, I have fulfilled that promise.
“We have rebuilt the market, and I personally presented the cheques to each of the affected traders as we disbursed N200 million in support, with every shop owner receiving N8 million to help them restart their businesses.”
He acknowledged the hardship caused by the disaster, emphasising that the initiative was not only about economic recovery but also about restoring dignity and hope among victims.
He added:
“I understand the pain and disruption this incident caused, and this intervention is about restoring not just livelihoods, but hope and dignity."
The governor framed the effort as part of his administration’s broader commitment to responsive governance and people-centred policies.
Source: Facebook
The governor noted:
“This is what governance means to me, standing with our people and taking real action when it matters most,” he said, assuring residents that further support initiatives would follow.
Okpebholo concluded on a note of optimism about the state’s future, declaring, “We will continue to do more to support our people and put smiles on the faces of Edo families. A New Edo has risen.”
Nigerians discover a people-centred approach to, food items
In a related development, a distinctive market has developed in southwestern Nigeria, where vendors can sell food items at lower prices while still maintaining healthy profit margins.
This provides shoppers with more affordable options, addressing local demand for cheaper goods amid the economic downturn caused by the removal of the fuel subsidy.
Referred to as the Islamic market, this initiative marks a significant shift from traditional practices and has gained widespread acceptance, rapidly expanding within the predominantly Muslim community of Iwo in Osun State.
The market was founded by Sheikh Daud Imran Molaasan, a renowned Islamic scholar and the Grand Mufti of Yorubaland, who also serves as the President of the Taawun Iain Movement.
Premium Times reports that prices at the Islamic market in Iwo are lower than in other local markets. This has led traders elsewhere to reduce their prices.
Traders announce new prices for rice, beans
Earlier, Legit.ng reported that Nigerians are beginning to feel modest relief at the markets as prices of key food items dropped across the country in November 2025, according to the latest data released by the National Bureau of Statistics (NBS).
In its Selected Food Prices Watch report for November, the NBS said prices of staple items such as rice, beans, garri, tomatoes and onions declined both on a year-on-year.
Source: Legit.ng
