No fewer than 14 people died in the incident with several houses and properties worth millions of naira destroyed in the inferno.
Saraki, who was represented by Mr Yinusa Afolabi, condoled with the only survivor and families of the victims.
She described the incident as an act of God.
Saraki prayed for the repose of those who lost their lives in the inferno and beseeched Allah to strengthen the families of the victims.
The donation came two days after Saraki lost the PDP ticket for the 2015 gubernatorial ticket in Kwara to Senator Sule Ajibola.
Earlier in his address of welcome, Alhaji Idowu Adekanbi, the Secretary of the Sabo community, applauded Saraki for the gesture.
Adekanbi said that only one person out of 15 victims survived the incident.