A raging fire that tore through sections of the Kugbo Furniture Market in Abuja on Sunday has reignited concerns over the fragile safety net protecting traders in the Federal Capital Territory, as billions of naira in goods and structures went up in flames.
The Federal Fire Service (FFS) said the blaze, believed to have been triggered by an electrical surge, broke out in the early hours of the morning. Firefighters from its Special Unit, supported by crews from Nyanya and the FCT Fire Service, battled the inferno for more than three hours before bringing it under control and preventing it from spreading to nearby properties.
Officials said assets worth about ₦1.8 billion were salvaged, though total losses across the market were estimated at over ₦2 billion.
Kugbo Furniture Market is one of Abuja’s largest commercial hubs, supporting thousands of traders and artisans while supplying furniture to homes, offices and construction projects across the capital. Like many urban markets, it is packed with highly combustible materials, making it especially prone to devastating fires.
Beyond the immediate damage, the incident has once again exposed Nigeria’s chronic insurance gap. Industry data show insurance penetration remains below 1 percent of GDP, among the lowest globally, with informal sector operators — including most market traders — largely uninsured.
Market fires have become a recurring crisis nationwide, with dozens recorded annually and cumulative losses running into tens of billions of naira. In Abuja alone, repeated infernos have wiped out livelihoods, often forcing traders to shoulder losses without any financial protection.
Federal Fire Service Controller-General Olumode Adeyemi praised the swift response of firefighters and urged the public to report emergencies promptly, stressing that early alerts reduce losses.
As Abuja cements its role as Nigeria’s political and economic nerve centre, experts warn that repeated market disasters highlight the urgent need for stronger risk management, especially wider adoption of insurance, to safeguard traders and the backbone of the capital’s commerce.
