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Traders seek solution after losing billions in Yaba market fire

17 October 2016, 21:28Obidike Okafor

Lagos -   An early morning fire yesterday razed a shopping complex, destroying 94 out of the 201 shops with goods worth billions of naira at the popular Yaba Market in Lagos, opposite the Presbyterian Church.

The flames might have gone down, but where does that leave the traders who lost between one to five shops and a source of income.

According to market sources, the owner of the burnt shopping complex, had the building insured, but the insurance does not cover the goods destroyed in the fire.
Presently some traders have decided to pay for makeshift opens stalls located close to the railway line that passes through Yaba.

News24 found out the registration forms to get space cost N6 000, while the traders will eventually cost as much as N100 000, while some traders are looking for shops at the newly renovated Tejuosho Market complex.

Though the traders refused to talk to the media, an undisclosed source believe that the market was burnt down on purpose so that the traders will be forced to pay for shops in the newly renovated market.


- News24


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