The Oyo State Government has cleared the air on reports that the Bola Ige International Business Complex, popularly known as Gbagi market in Ibadan, will be shut on Monday, August 25, 2025.
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Authorities confirmed that the market will remain open for business.
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The clarification was issued in a statement from the Commissioner for Investment, Trade, Cooperatives, and Industry, Adeniyi Adebisi, who assured traders, shop owners, and customers that there is no plan to halt commercial activities at the complex.
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Government officials described the closure report as false and mischievous, aimed at creating panic among traders and disrupting economic activities. They noted that Gbagi market remains a key hub for commerce in the state and stressed that normal business operations would continue without interruption.
The government also acknowledged concerns over certain practices within the complex, where some shop owners reportedly sublet space in front of their stores to petty traders for profit. Officials said steps are being taken to regulate such excesses in order to protect the interests of all categories of traders and ensure fairness within the market.
Governor Seyi Makinde’s administration reiterated its commitment to creating an enabling environment for businesses to thrive. The Ministry added that security measures are in place to maintain peace and order at the complex.
The state further appealed to the public to disregard rumours of closure and rely only on information released through official channels, assuring that Gbagi market will remain fully operational.
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