The sum was presented to the leadership of the market by the goveyrnor at the Governor's Lodge, Amawbia.
The fire incident which took place on the 5th of January this year, razed down several shops and destroyed goods worth millions of naira at the Nnewi market but did not claim any life .
Presenting the cheque, Governor Obiano explained that the money was to provide succour to the fire victims to assist them piece back their lives.
He revealed that as part of efforts to forestall a recurrence of such disaster, his government has relocated its foam fire truck to Nnewi area and expressed satisfaction that the Timber market utilized the 10 million naira his administration provided under the choose-your-project initiative very well.
The Governor further assured the timbershed traders that the road leading to the market which his government is constructing will soon be completed.
The Executive Secretary of the State Emergency Management Agency, SEMA, Chief Paul Odenigbo noted that the gesture simply lends credence to the Governor's humane disposition.
In his remarks, the Chairman of the Market, Chief Chukwunonso Nnetu while thanking the Governor for coming to their rescue, prayed God to repay him and promised that they will reciprocate his kind disposition towards them with their votes.
In a vote of thanks, the wife of late Biafran leader, Dim Chukwuemeka Odumegwu Ojukwu, Chief Mrs Bianca Ojukwu expressed appreciation to the Governor for fulfilling his promise to provide succour to the traders.
Presentation of the cheque to the market leaders was the highlight of the event.