Add us on Google
The Edo State Government has disbursed N200 million in financial support to traders affected by the recent fire incident at the POWA Market in Ekpoma, with each affected shop owner receiving N8 million to help restart their businesses.
Governor Monday Okpebholo disclosed this on Tuesday in a public statement, confirming that the intervention followed a pledge earlier made to victims of the market fire.
The governor said the state had now fulfilled its promise to provide both infrastructure restoration and direct financial assistance to the affected traders, describing the intervention as part of efforts to restore livelihoods and reduce the economic burden caused by the disaster.
Government fulfils promise to affected traders
According to the governor, the state government not only rebuilt the damaged market but also directly handed over compensation cheques to each affected trader.
“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,” Okpebholo stated.
He explained that the N200 million support package was designed to ensure that business owners could resume operations without prolonged disruption.
The compensation comes at a critical time for the traders, many of whom lost goods, capital, and business equipment in the fire outbreak.
Rebuilding livelihoods after market fire
The POWA Market fire had disrupted commercial activity in the area, leaving several traders facing uncertainty over how to recover from the losses incurred.
By allocating N8 million to each affected shop owner, the Edo State Government aims to provide immediate financial relief and create a pathway for economic recovery.
Okpebholo noted that the intervention goes beyond rebuilding physical structures, stressing that the objective is also to restore hope and dignity among the victims.
“I understand the pain and disruption this incident caused, and this intervention is about restoring not just livelihoods, but hope and dignity,” he said.
Economic significance of the intervention
Market fires remain one of the recurring threats to small and medium-scale enterprises across Nigeria, often wiping out years of investment within hours.
For many traders in local markets, access to insurance protection remains limited, making government intervention a critical lifeline after such disasters.
Analysts note that direct compensation of this scale could help stabilise local commerce in Ekpoma and prevent deeper financial distress among affected families who rely on daily market income.
The rebuilding of the market alongside the financial support may also accelerate the reopening of business activities and reduce longer-term economic disruption in the community.
Commitment to continued support
The governor said the intervention reflects his administration’s approach to governance, which he described as standing with citizens during periods of hardship.
“This is what governance means to me, standing with our people and taking real action when it matters most,” he said.
He added that the government would continue to introduce measures aimed at supporting Edo residents affected by emergencies and economic setbacks.
The Ekpoma intervention is expected to serve as one of the early major disaster-response benchmarks under the current administration in Edo State.
