We’re Not Closing Gbagi Market, Oyo Government Assures Traders, Insists on Redevelopment
The Oyo State Government has firmly denied widespread rumours suggesting plans to close down the Bola Ige International Business Complex, popularly known as Gbagi Market, in Ibadan.
In a statement issued on Saturday, the Commissioner for Investment, Trade, Cooperatives and Industry, Hon. Adeniyi Adebisi, described the claims as “deliberately false and misleading,” noting that the market remains fully operational.
He explained that government activities at the complex are strictly focused on improving infrastructure, restoring order, and modernising the market environment for traders and customers.
According to Adebisi, the redevelopment of Gbagi Market is being carried out in phases, with the active involvement of the market’s leadership and zonal associations.
He emphasised that contrary to reports making the rounds on social media, no section of the market has been marked for forceful closure and no car park has been converted into shops.
“The Bola Ige International Business Complex remains open and active. The state government is committed to creating a more conducive trading environment, not to disrupt the livelihoods of traders,” Adebisi clarified.
The commissioner explained that new stalls recently introduced within the market are part of the broader redevelopment plan, adding that allocations were made transparently and only to interested traders who voluntarily applied.
He further urged the public to disregard insinuations that the government was planning mass eviction of shop owners.
In recent weeks, the government rolled out series of reforms at the market, including measures to decongest access roads, enforce a ban on Sunday trading, and strengthen security surveillance around the area.
Authorities insist that these steps are designed to enhance commercial activities while curbing illegal vending, traffic chaos, and criminal operations linked to the market’s surroundings.
Despite government assurances, concerns remain among some traders, particularly small-scale vendors, who fear that rising stall costs could displace them from the market.
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Market leaders, however, have confirmed that discussions with the government are ongoing to ensure that no legitimate business operator is unfairly sidelined in the restructuring process.
Gbagi Market, widely recognised as one of West Africa’s largest commercial hubs, serves as a major driver of Ibadan’s economy, attracting thousands of buyers and traders from across Nigeria and neighbouring countries. The government insists that protecting the market’s relevance is central to its redevelopment agenda.
Adebisi, while reaffirming Governor Seyi Makinde’s commitment to inclusive economic growth, warned against the spread of misinformation capable of inciting panic among traders.
He also pledged continued dialogue with stakeholders, including further town hall engagements, to provide updates on redevelopment phases and address traders’ grievances.
The state government assured that any significant decisions on the market’s future would be communicated transparently through official channels and not through rumours or speculation.
