Below is a historical account of the New Gbagi Market often referred to as the Bola Ige International Business Complex drawing on available facts, figures, and accounts from local discourse and news reports:
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| Ola Daviva |
Historical Background
Origins and Construction
The New Gbagi Market is widely believed to have been built under the administration of Bola Ige, who served as the governor of the old Oyo State from 1979 to 1983. During his tenure, Bola Ige initiated the construction of this modern market in Ibadan as part of a broader effort to improve trading infrastructure and consolidate informal trading activities in the city. Some accounts suggest that while the project was conceived in the early 1980s, the market was formally opened around 1989—with traders being relocated to the new site by 1991. These dates have been a subject of discussion among market stakeholders and local observers.
Planned Modernization
The project was envisioned as a modern alternative to the sprawling informal markets of the city. With design elements that included defined trading zones, designated car parks, and improved infrastructure, it represented a shift toward a more organized and regulated trading environment. The market was later renamed in honor of Bola Ige as the Bola Ige International Business Complex, reinforcing its status as a legacy project of his administration.
Facts and Figures
Timeframe and Administration
Bola Ige Tenure: 1979-1983
Market Opening and Relocation: Reports indicate the market was opened in the late 1980s (circa 1989) and traders were relocated by 1991.
Impact and Trader Fees
In recent discussions on the market condition, traders have cited fee structures reflective of the redevelopment:
Redevelopment and Recent Developments
The market has not remained static. In recent years most notably by early 2024. it underwent significant redevelopment. The Oyo State Government has worked to reabsorb former occupants into the modernized Bola Ige International Business Complex, ensuring that the new facilities meet contemporary standards for safety, infrastructure, and economic viability.
Scholarly and Sectoral Perspectives
Urban Development and Informal Markets
Academic research into the evolution of informal land use in Nigerian markets has used the New Gbagi Market as a case study. Scholars have noted that the project is emblematic of the efforts by state governments in the 1980s to bring formal structure and improved service delivery to traditional trading environments. Such studies discuss the market’s design and evolution as part of broader urban renewal and infrastructure projects in Ibadan.
Legacy and Contemporary Relevance
While scholarly work often highlights the market contribution to re-organizing trade in Ibadan, local narratives continue to debate aspects of its planning and execution. Many traders express that, despite the modern features, issues remain in areas such as facility maintenance and alignment with the original master plan. These discussions are part of a broader dialogue on how legacy projects from past administrations continue to shape urban commerce in Nigeria.
Conclusion
The New Gbagi Market (Bola Ige International Business Complex) remains a landmark project in Ibadan commercial landscape. Built during the early 1980s under Bola Ige administration, it was designed to transform the traditional market scene into a modern, organized trading hub. With key milestones reported around 1989 -1991 and ongoing redevelopment efforts in the 2020s, the market not only reflects a significant chapter in Oyo State history but also continues to influence debates on urban planning, trader empowerment, and the modernization of Nigerian commerce.
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