Over 60 of the traders were travelling when the gunmen struck, but more than 20 managed to escape.
Chairman of the market said the traders were abducted when they were returning from a wedding in Sokoto.
He said the traders traveled in a Coaster Bus with 40 seat capacity and in another bus that was carrying 18 passengers.
He told the BBC Hausa Service that they were abducted on Saturday evening in-between Tureta and Bakura town after leaving the wedding venue at Tambuwal in Sokoto State.
Spokesman of the Zamfara Police Command, SP Muhammed Shehu confirmed the abduction, saying his men in collaboration with other security agencies have commenced investigation to ascertain the number of those in captivity.
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