Oyingbo Market is an ultramodern market complex located in Oyingbo, a metropolitan city in
Ebute Metta area of
Lagos State
Lagos State ( yo, Ìpínlẹ̀ Èkó) is a States of Nigeria, state in South West (Nigeria), southwestern Nigeria. Of the 36 States of Nigeria, states, it is both the List of Nigerian states by population, most populous and List of Nigerian state ...
. The market is one of the oldest and busiest markets in Lagos thereby contributing a large quota to the economy of the state.
History
Oyingbo market was established during the early 1920s as a depot for agricultural produce. The market gradually expanded due to developments around the Oyingbo, Ebute Metta and
Lagos Mainland
Lagos Mainland Local Government is a local government area in the Lagos Division of Lagos State, Nigeria
Nigeria ( ), , ig, Naìjíríyà, yo, Nàìjíríà, pcm, Naijá , ff, Naajeeriya, kcg, Naijeriya officially the Federal Repub ...
regions.
In the 1930s, traders from Apapa Road were moved to Oyingbo market to further boost the size of the market with the view of making the market a major commercial centre that will attract customers from every part of
Nigeria
Nigeria ( ), , ig, Naìjíríyà, yo, Nàìjíríà, pcm, Naijá , ff, Naajeeriya, kcg, Naijeriya officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf o ...
.
Basic structure
Onyingbo market was demolished under the administration of the then Chairman of
Lagos Island local government in a bid to rebuild it into an ultramodern market through partnership with the private sector inviting
Chief M.K.O Abiola to lay the foundation of the new market.
In 2015, former
Governor of Lagos State
The governor of Lagos State is the head of government of Lagos State in Nigeria.
The governor leads the executive branch of the Lagos State Government.
This position places its holder in leadership of the state with command authority over the ...
Babatunde Fashola
Babatunde Raji Fashola ( yo, Bàbátúndé Rájí Fáṣọlá; born 28 June 1963) is a Nigerian lawyer and politician currently serving as the Federal Minister of Works and Housing of Nigeria. He served two terms as Governor of Lagos State f ...
commissioned the new modernised market after efforts to rebuild the market moved from one administration to the other.
The new ultramodern Oyingbo market complex is a
four-storey building built on a 504 square meters land with about 150-car capacity parking lot on the ground floor, 622 open shops, 102 lockup shops, 48 open offices, 134 toilets and six exit gates. The reconstruction of the market is estimated to have been built at the cost of
₦
The naira ( sign: ₦; code: NGN) is the currency of Nigeria. One naira is divided into 100 ''kobo''.
The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Federal Republic of Nigeria. It controls the vol ...
1billion.
See also
*
List of markets in Lagos
Markets in Lagos, Nigeria, offer a broad and diverse range of new, second-hand goods, products and merchandise for consumers.
Notable markets in Lagos include:
*( Agbalata market badagry lagos )
* Alaba international market
* Ajah Market
* Ar ...
References
{{Reflist
Lagos Mainland
Retail markets in Lagos