Top Five (5) Biggest And Busiest Markets In Igboland

The South-East which is also the richest region in Nigeria with the highest GDP per capital, despite being marginalised. The Igbos are recognized in Nigeria for their business acumen and their affinity for money, which is the major reason why they dominate every major market in Nigeria.

The region is the home of some of the biggest and busiest markets in Nigeria, below is the top five (5) markets in the region;

1. Onitsha Main Market

Located in Anambra State, Onitsha Main Market is the epicentre of trade in the southeast. The market is one of the largest market and commercial powerhouse in West Africa. The market is massively patronized by merchants in the ECOWAS sub-region including Accra, Abidjan, Douala, Niamey and Cotonou.

It is believed that the average trader in the market brings in at least six consignments of 40 tonnes (40-feet containers) of goods annually. Some of the major importers do more than 200 consignments of 40 tonnes of goods per year. Goods of all types of goods are sold in the market.

According to the research conducted by Ike Chioke (GMD Afrinvest) Onitsha Main Market have an annual turnover – $3billion (about 1.08 Trillion)

2. Ariaria International Market, Aba 

Dubbed “the China of Africa”, Ariaria market is the manufacturing centre for several products; shoes and textile hold a large proportion. Traders in the market boast that their clientele base extends beyond the shores of Africa. Some of the original leather shoes, bags and scandals produced in the market, are finding their way to Europe.

The market has huge patronage from African countries like Zambia, Ghana, Cameroon, Zimbabwe, and South Africa. Some foreign businessmen buy Ariaria products in bulk, re-brand and re-sell at great profits.

According Afrinvest Database, the market is believed to have about $3billion (about N1.08 trillion) annual turnover.

3. Nkwo Nnewi, Market 

Nkwo Nnewi is not only a strategic market in Anambra State, but also in Nigeria. The market has propelled the development of the local economy and the present mini industrial economy in Nnewi.

Nkwo Nnewi Market is made up of about Eight (8) different markets which include, New Motorcycle Spare Parts, New Motor Spare Parts, Nwagbara Market (Mgbuka Machine Parts), Building Material Market, Electrical/Electronics Market, Nnewi General Market (Ime Afia), Generator Parts Market and Timber Dealers Market (Ọgbọ Osisi).

The market is located in what used to be an enclave, Agbo Edo, a forest land which belonged to Edo Nnewi deity. The market has several auto and motorcycle spare parts dealers, which is the biggest in Africa. The market has also produced many industrialists.

The market has an estimated annual turn-over of $1billion, (about N360billion), according to Afrinvest.

4. Ogbete Main Market

Ogbete Market is one of the earliest markets in Igbo land. It is one of the biggest and most populated markets in Nigeria. Its development was as a result of colonial infrastructures which helped in the development of the market. After the war, the market was rebuilt and continued in the development of Enugu.

The market occupies a large expanse of land, different kinds of goods are sold in the market. Most of the foodstuffs sold in the market are cheap. The market is divided into different layout with different areas dedicated to different kinds of goods.

According to Afrinvest, Ogbete Main Market makes an annual turn-over of $500million (about N180billion).

5. Relief Market, Owerri

After the demolition of Eke Ukwu (Owerri Main Market) by Governor Rochas Okorocha, the market became the next alternative to most displaced traders. The development had led to increased human and vehicular pressure.

Today, all kinds of goods are being sold in the market, making it the major market in Imo State.