Oyo, Land Republic Begin Construction of Oluyole Modern Market in Ibadan

A major drive to modernize commerce in Ibadan has kicked off as the Oyo State Government, in partnership with property developer Land Republic Limited, formally commenced the Oluyole Modern Market project at New Garage Junction, Oluyole Local Government Area. The ambitious Public-Private Partnership (PPP) aims to convert the formerly disorganized roadside trading area into a world-class commercial hub, signaling a new era for market infrastructure in the region.

Designed as one of the largest markets in the south-western states, the Oluyole Modern Market will feature over 3,000 shop spaces. These spaces will cater to both informal traders—many of whom face threats of displacement from illegal structures—and new investors seeking secure, government-approved holdings. The project boasts tiered shop categories, modern infrastructure, reliable title documentation, and official government development approvals, significantly reducing risk for buyers or tenants.

According to Victor Adesewa Adegbile, CEO and Co-founder of Land Republic, “This development is a response to the growing pressure on informal traders in Ibadan. The new market is well-planned, accessible, and designed for long-term value, offering dignity and future security for traders.”

Strategically located at the convergence of Akala Express, Challenge, Podo, and the Lagos–Ibadan Expressway, the New Garage area records more than 50,000 daily commuters. In addition, the market’s proximity to Oluyole Industrial Estate—home to major corporations like Pepsi, Procter & Gamble, Sumal Foods, and British American Tobacco—solidifies its commercial potential and central business appeal.

ADVERTISEMENT

The Oluyole Local Government is leading the public sector component, providing land, regulatory oversight, and institutional support. Crucially, the Oyo State Government backs the project with the necessary titles and approvals, guaranteeing security for both investors and shop occupiers. Early promotional offers and payment plans have already attracted strong interest, while officials highlight the market’s potential to boost job creation and align with Governor Seyi Makinde’s urban renewal agenda.

Observers note that the new market is more than a trading space—it represents Ibadan’s shift toward organized commerce, sustainable investment, and urban productivity. For traders, it means upliftment and protection; for investors, it offers reliable returns driven by Ibadan’s consistent commercial expansion.

“This is what real PPP should deliver,” commented an Oluyole official during a recent inspection. “The project creates jobs, supports economic growth, and speaks to our vision of a more modern Oyo State.”

With site work underway and shop sales open, the Oluyole Modern Market is set to redefine trading in Ibadan and serve as a model for future PPP-driven urban projects in Nigeria.