The acts of buying and selling is predominantly a fundamental tool for sustainable economic growth and development. Pertinent to this, the reason for availability of markets in countries, states and locality are not far fetched
Market is simply a place where buyers and sellers meet for transaction of goods or services. However, in Ibadan town the principle of buying and selling due to the availability of requisite and needful platform or market for buyers and sellers of different categories of goods cannot be overemphasized.
This articles will lay emphasis on three important markets in the town and their economic importance to the state in particular and Nigeria at large
1. Bodija Market (oja bodija)
Bodija market in located in Ibadan North Local Government of Oyo State. It is about one kilometer from university of Ibadan along the road to the state Secretariat which is also about one kilometer away. The market is where buying and selling of food stuffs and cattle happens which is the largest in Oyo state.
The history of the market can be traced to about two decades ago.
Bodija market is a very large market which accommodates thousands of buyers and sellers of different commodities per day.
Unlike in some markets, where market transaction happens in every four days interval, traders transact everyday including Sunday in bodija market.
Business transaction in the market is not only limited to the people in the state as buyer and sellers from different towns and villages, far and near also join hand in performing business activities in the market daily.
During festive periods (yuletide and sallah seasons), different sellers troop in from north, east and southern part of the country to do their business in the market.
As mentioned earlier, bodija market is mainly for selling of foods stuffs and cattle. Various categories of food stuffs such as; rice, beans, gari, yam powder(elubo), yam, pepper, vegetables, oil, wheat, can be gotten in the market abundantly either in bulk or retails.
Although cattle market has been moved to Akinyele in 1999 when feud between Hausa and Yoruba surfaced but the rate at which cattle business is done in the market proved otherwise. Cows of various sizes can be purchased in the market at reasonable costs.
Bojida market does not only contribute to the economic growth and development of the state it has also increased the internally generated revenue for the pace setter state.
2. Gbagi Market ( Bola lge international market)
The market is located along Ibadan-ife Express road a miles away from Ibadan airport and it is about a kilometer from Lagos – Ibadan express road. The market is named after Bola ige for relocating the market to the new site in 1980s by gov Lam Adesina.
Gbagi market is mainly for selling of various clothes local and international categories. About one million people transact in the market withing a week. Gbagi market opens on Mondays to Saturdays between 7am-7pm.
The market is being patronized by buyers and sellers from different parts of the country visiting about 40, 000 shops, kiosks, warehouses in the market and its environs thereby enhances the economic growth of the state.
gbagi market is widely known for selling of clothes of various types, design, brand, quality and value either in large or small quantity. Various categories of clothes such; Ankara, ofi, lace,shoes,jewelries,bags, guinea, ready made, etc can be found in the market abundantly.
Bola ige international market is indeed blessing to the s state, however, the economic activities of the market has brought about great development to its environs thereby enabling other economic and hospitality institutions such as banks, hotels, insurance companies,schools to strives.
Also, the market has also helped in integrating various ethic groups within and outside the country as Hausa, Igbo, Yoruba, Fulani, Igala, Arabs transact in the market freely since inception without any problem.
Gbagi market also serves as means of generating revenue for government as a result of tax collected from the sellers by government.
3. Agbeni Ogunpa market
Agbeni Ogunpa market is a medium sized market located at the heart of Ibadan that sells various kinds of household stuffs and provisions.
The market is less than a kilometer away form dugbe which is known as one of the ancient place in Ibadan due to coco house tower that is located there.
Buying and selling takes places in the market in all days of the week thereby making over 500 thousands buyers and sellers to do business transaction freely in the market.
It is one of the most visited market in the state as a results of many buyers who came to patronize the market from within and outside the state. The market is predominantly dominated by sellers of baby wears and provisions.
Ogbeni market is generally known for selling of items such as; groceries, cosmetics, hair extensions, waveons, under wears, pomades, toiletries, fashion accessories costumes, provisions, baby clothes, electronics e.t.c at large quantities but in affordable prices.
The significance of the market cannot be over emphasized as it has attracted various developments such as banks, insurance companies, good roads, government agencies and other social and economic vices to its environs. Agbeni Ogunpa market has also served as sources of revenue for government for years.
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