The Oyo State governorship candidate of the Allied Peoples Movement (APM), Bimbo Adekanbi, has promised to end what he described as the practice of turning market disasters into opportunities for political publicity.
He stated that his administration as the next Governor of the state, if elected, would establish an insurance scheme to provide sustainable economic protection for traders affected by fire and other unforeseen disasters.
Adekanbi made the promise during a visit to traders affected by the recent inferno at the Oranyan market in Ibadan, where he expressed sympathy with the victims and pledged support towards the reconstruction of their businesses.
He said the experience of the affected traders underscored the need for government to move beyond ad hoc sympathy visits and donations whenever disasters occur, arguing that victims should have access to institutional mechanisms capable of cushioning the economic impact of such losses.
According to him, relying on goodwill and donations after a disaster may provide temporary relief, but such interventions are often inadequate and cannot guarantee that affected traders will recover their businesses.
Adekanbi said that, if elected governor, he would implement an insurance scheme that would enable market associations and individual traders to mitigate unforeseen losses and regain economic stability after disasters.
“I did pledge that as Governor, I would implement an Insurance Scheme that will allow Market Associations and Traders mitigate any unforeseen loss that may occur, rather than bear losses 100 per cent and rely on goodwill of the public that may be inadequate, or may never come at all,” he said.
The APM candidate explained that the Oranyan inferno was a painful reminder of the vulnerability of traders who could lose years of investment within hours, despite having no effective mechanism to protect their businesses against such catastrophic events.
He argued that a responsible government should not wait for disasters to happen before responding, but should create systems that enable citizens and businesses to manage risks and recover quickly when unforeseen incidents occur.
Adekanbi also criticised what he described as the politicisation of disasters, saying victims should not become instruments for political campaigns whenever tragedy strikes.
He said his approach would be to prioritise practical interventions that restore livelihoods and provide affected communities with the economic leverage required to rebuild.
His position appeared to resonate with the traders, who had earlier expressed concern about visits by some politicians accompanied by heavy security personnel.
The traders said such visits created unnecessary panic and fear among shop owners and market operators who were already traumatised by the fire outbreak.
They contrasted the experience with Adekanbi’s visit, which they described as peaceful, humble and focused on listening to their concerns.
The traders reportedly described him in Yoruba as a typical Omoluabi, a person whose conduct reflects humility, good character, empathy and respect for others.
Adekanbi had initially offered to mobilise a bulldozer to clear the rubble at the market following the fire.
However, the traders declined the offer, explaining that clearing the site mechanically without first resolving the identification and location of individual shops could generate controversy and disputes among affected operators.
Respecting their position, Adekanbi shifted his immediate intervention towards supporting reconstruction with building materials.
He pledged to donate building materials to assist affected traders in rebuilding their shops and returning to business.
The gesture was welcomed by the traders, who expressed appreciation for what they described as his humane approach to their plight.
They said the immediate challenge confronting them was not political mobilisation but how to recover their businesses and restore the sources of livelihood destroyed by the inferno.
The traders subsequently offered prayers for Adekanbi’s governorship ambition, asking God to grant him success and the opportunity to implement his proposed policies.
Adekanbi said the proposed insurance scheme would represent a shift from a reactive approach to disaster management towards a preventive and sustainable economic protection system.
He noted that market associations and traders who contribute to an insurance arrangement should be able to access compensation or other forms of financial support when covered risks occur, thereby reducing their dependence on emergency donations.
The proposal also comes amid renewed concerns over the safety and resilience of markets in Ibadan and other parts of Oyo State following recurrent fire incidents that have destroyed goods, shops and the economic investments of traders.
For many of the Oranyan victims, the consequences of the inferno extend beyond damaged structures. The fire has disrupted incomes, wiped out merchandise and working capital and left families whose livelihoods depend on the market facing uncertain futures.
Adekanbi said government must therefore consider the economic consequences of such disasters when designing policies for market development.
He maintained that providing traders with access to insurance would give them greater confidence to invest, knowing that their businesses would not necessarily collapse completely if they suffered an unforeseen disaster.
The APM candidate further stressed that public donations could never substitute for a properly structured risk-management system.
While acknowledging the value of individuals and organisations extending assistance to victims, he argued that such goodwill should complement, rather than replace, government-backed economic protection mechanisms.
The Oranyan incident, he said, should serve as a lesson for Oyo State to develop a more comprehensive framework covering fire prevention, emergency response, market planning, insurance and post-disaster reconstruction.
He added that his administration would seek to ensure that traders are not left to rebuild their lives solely through appeals for public assistance after losing their businesses to disasters.
The latest development has therefore shifted part of the conversation surrounding the Oranyan inferno from immediate relief to the broader question of how government can protect the economic interests of traders before disaster strikes.
For the affected traders, Adekanbi’s pledge of building materials offers immediate support towards reconstruction, while his proposed insurance scheme presents a longer-term policy response aimed at reducing the devastating economic consequences of future disasters.
The APM candidate said the ultimate objective was to build a system in which victims of market disasters would have structured economic protection, rather than becoming dependent on political sympathy or uncertain public donations.
The Oranyan tragedy, he maintained, should not merely generate temporary political attention; it should compel government and stakeholders to develop lasting solutions capable of protecting livelihoods and strengthening the resilience of Oyo State’s trading communities.