BUSINESS

Traders lose shops to fire after taking loans to buy stock

Dozens of traders at the Sango-Oju Irin Market in Ibadan, Oyo State, have lost their valuables in an overnight inferno.

More than 20 shops were damaged by the fire.

The incident comes in the wake of two similar market fires at Ire Akari Estate, in the Soka area, and another at Orita Aperin, also in Ibadan.

Alh. Azeez Mustafa, who is the market leader of Sango Oju Irin Market, said that

“most of the affected traders just stocked up. Our people decided to obtain a loan so as to stock up as much as possible because of the daily rise in the inflation rate.”

“The fire occurred as a result of an electric malfunction,” he added.

“We call on the government and well-meaning Nigerians to help out so that the huge losses would not lead to health issues for the victims,” he said.

 

 

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