There are several markets in Abuja, Nigeria and for someone who wants to start a business in Abuja, the best place to rent a shop is either through Abuja Market Management Board or from private shop agents.
WHERE TO FIND THE BEST PLACE TO GET A SHOP IN ABUJA, NIGERIA
WUSE MARKET- is indubitably one of the best places to get a shop in Abuja, Nigeria as it is also one of the biggest, most organized and well-situated market in Abuja. It is located in Wuse Zone 5. It is a modern market with well tarred roads and demarcated lanes. Rabiu Ibrahim, a trader in the market has given us a breakdown of the rates in renting a shop in the market.
6.5 square meters- N1 Million per annum
8.5 square meters- 1.6 Million per annum
A warehouse- N1.8 Million per annum
Note: These abovementioned rates depend chiefly where the shop is located in the marketplace.
Types of goods sold - You can sell anything since stores are segregated from one unit to another.
Security- If you are worrying about the safety and security, there is an adequate protection; with a police post and Latins Security Nigeria Ltd. who are manning the place.
Facilities- Shops are well organized and built in well-adjusted lanes. You can also find various banks such as Oceanic Bank, Zenith Bank, Unity Bank and Bank PHB including Micro Finance Banks.
UTAKO MARKET- is another very organized market located in Utako District of Abuja.
Mr. Goodness, a trader at the market says:
Rent- a shop goes for an average of N200, 000 (depending on the exact location of the unit and the ship owner)
Buying- depending on the specific location of the shop you want to buy, buying the shop would cost you between N2 Million to N4 Million
KARIMO MARKET – is relatively gaining stability after several government demolitions to meet with the Abuja geographical master plan. However, Karimo Market Traders Association Chief S.M.O Makata said that the last demolition of the market in 2006 left the traders reached an agreement with FCDA to commence trading. He gave the following details:
Rent -N50, 000/annum for a shop
Buying- is a matter between the buyer and the seller
Goods sold- general goods but more on food items
Fare – N50 to Wuse and N70 from Wuse 32
Facilities – with a police station and several unoccupied shops space
Note: The market is open daily but usually jam-packed on Tuesdays.
MARARABA MARKET – This market shares boundary with Abuja Urban Mass Transit Company. Here are some details according to a colleague and spokesman for a popular shop agent in the market named Alhj Usman Keffi:
Rent- N50, 000 per shop yearly and a monthly payment of N1000 but
advance payment of N6000 must be paid for the first 6 Months.
KARU MARKET – This is a very busy market and because of its busy nature, shop owners succeed vastly.
Here are some information we received from Mr. Steve of the Abuja Municipal Council (AMAC) of Karu Market Management Office while acting as someone looking for a shop:
Rent- N120, 000 per annum as rent to buy
Buying the shop- would cost N700, 000; some traders selling on the streets in the market said they are paying N8, 000 to get a space to sell their goods or services and monthly environmental cleaning charges
BUILDING MATERIAL MARKET - A renowned market for building materials and is located at toll gate linking Abuja and Nasarawa state. Here is the rate of renting and buying a shop according to Mr. Chima; a staff of the Market Management Association:
Rent -N80, 000 for a shop per annum
Buying the Shop- N2 Million
Products sold – building materials like paints, rods, doors, windows, roofing sheets etc.
Nature of the market – largely dominated by Igbo speaking people of Nigeria with 12 lines (called blocks) of shops
TIPER GARRAGE MARKET – This place combines the features of a motor park and a market and it is a potential business ground for investment according to a shop owner.
Rent – A shop cost N65, 000
Facilities – Several shops arranged in three blocks with spaces in between.
Nature of the market- Largely dominated by Hausa speaking tribe and is a potential ground for selling food, Islam Materials, shoes and clothes etc.
ZONE 3 NEIGHBORHOOD MARKET- This market is a “virgin” market. It is mostly preferred because there is always a large number of people working and moving around in this place. Here is the information from this market which is located close to general post offices in Abuja:
Rent- N 60,000 yearly per shop
Nature of the market- there are available shops for rent and sale in this market and Information Communication Technology (ICT) is fast gaining ground in this market along other goods and services.
If you wish to rent a shop in Abuja, Nigeria, please contact the following:
Shop: Karu Market
Contact Person: Mr. Stephen
Tel. no. 08035955782
Shop: Market Wuse
Contact Person: Mr. Rabui
Tel. no. 08027811720
Shop: Tipper Garrage Market
Tel. no. 08065489606
Shop: Mararaba market
Contact Person: Mallam Usman Keffi