Economic Lifeline: FG Grants ₦25m Each to 18 Calabar Mall Fire Victims
In a decisive move to drive local economic recovery and deliver vital humanitarian relief, the Federal Government has deployed a N515 million intervention fund to Cross River State.
Spearheaded by the First Lady of Nigeria, Senator Oluremi Tinubu, under the directive of President Tinubu, the strategic financial injection targets the immediate restoration of livelihoods following the devastating August 22, 2026, fire outbreak at the Calabar Mall (SPAR).
It serves as both a humanitarian lifeline and an economic catalyst through three targeted allocations:
Direct Business Stabilization
A total of N450 million is being distributed directly to 18 affected business owners, providing N25 million each to cushion their losses, prevent immediate bankruptcy, and accelerate the rebuilding of vital commercial enterprises.
An additional N50 million has been delivered to the Wife of the Cross River State Governor, Eyoanwan Otu, specifically designated to fund and uplift local women’s groups and small-scale cooperatives.
Also, a ₦15 million token of direct community support was extended during the state reception, ensuring immediate liquidity and community relief. According to the First Lady, “This intervention is to provide immediate support and help victims recover from their losses.”
Why This Matters
By providing substantial capital (₦25 million per vendor) to the affected entrepreneurs, the government is actively mitigating market disruption. The expectation is that the multi-billion naira supply chains connected to the Calabar Mall can recover swiftly, protecting jobs and preserving state tax revenues.
The government is also targeting vulnerable demographics such as women-led groups, reinforcing its commitment to inclusive growth to support household stability, local nutrition, and community-level economic resilience.
A Model for Swift Crisis Response
Governor Bassey Otu hailed the timely intervention as a blueprint for rapid-response governance, ensuring that the gap between a devastating economic shock and meaningful financial succour is minimized.
According to him, it is more than just disaster relief but a calculated investment in rebuilding the economic backbone of Calabar, restoring community dignity, and proving that the Federal Government stands firmly behind Nigerian entrepreneurs in times of crisis.
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