Bode Market fire: Gbolarumi vows reconstruction, interest-free loans for traders

The governorship flagbearer of the Peoples Democratic Party (PDP) in Oyo State, Hon. Hazeem Gbolarumi, has commiserated with market leaders, traders and artisans following the fire incident that ravaged sections of the popular Bode Market in Ibadan, destroying goods worth millions of naira.

Gbolarumi, in a statement issued through his media team on Friday, expressed gratitude that no life was lost in the inferno, describing the development as a saving grace despite the enormous economic losses suffered by victims.

He noted that the incident had dealt a heavy blow to many families whose livelihoods depend on daily commercial activities within the market, adding that the pain and hardship occasioned by the destruction of goods and investments were deeply felt.

The PDP standard-bearer assured traders that his administration, if elected in 2027, would prioritise the creation of an enabling environment that would allow businesses to flourish while guaranteeing adequate security for lives and property across the state.

According to him, markets remain critical drivers of economic growth and deserve deliberate policies and infrastructure capable of protecting investments and improving the welfare of traders and artisans.

Gbolarumi further pledged to champion the reconstruction and development of Bode Market to world-class standards, with modern facilities and improved safety measures that would reduce the risk of future disasters and enhance commercial activities.

He maintained that the transformation of traditional markets into modern business hubs would not only boost internally generated revenue but also create opportunities for sustainable economic development.

The governorship hopeful also promised to introduce interest-free loan schemes for market traders and artisans as part of broader efforts to support small and medium-scale enterprises and ease access to capital for grassroots entrepreneurs.

He stressed that empowering traders with affordable financing remains essential to strengthening local commerce and improving household incomes across Oyo State.

“While we sympathise with every trader affected by this unfortunate incident, we are grateful that no life was lost. Our commitment is to build an Oyo State where markets are secure, modern and conducive for business activities.

“We envision a Bode Market rebuilt to world standards, backed by adequate security for lives and property and supported by interest-free loans that will enable traders and artisans to expand their businesses and prosper,” the statement added.

Gbolarumi urged the affected traders not to lose hope, assuring them that with the right leadership and people-oriented policies, the state could build stronger, safer and more prosperous commercial centres for future generations.