Africa’s richest man, Alhaji Aliko Dangote through the Aliko Dangote Foundation has donated N500 million to traders affected by the Kano market fire disasters of few months ago.
The donation, was in response to appeal by the Kano state government for contributions from public spirited individuals and corporate organisations to help the fire victims come back to business.
While this gesture is good, the question however is, for how long will the government at federal and states level continue to play the role of insurance institutions?
When well meaning Nigerians donate money to traders who lost their goods to fire which they fail to take insurance for, there is a problem. Rather than government and well-placed individuals giving hand-outs to victims of market fire, people should be encouraged to buy insurance to cover their goods.
No fewer than seven fire disasters have occurred in five major markets across the state within the past few months with no fewer than 1,400 shops and goods estimated at 28 billion gutted by the inferno.