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Onitsha Main Market in Onitsha, Anambra State, southeastern Nigeria, prides itself as the largest market in West Africa and could also pass as the largest in Africa, based on geographical size and volume.

The market is known for having millions of traders, buyers, and business visitors from across Nigeria, Africa, and beyond. Onitsha Main Market is what we would call an economic powerhouse.

The scope of the market refers to all the markets located in almost all corners of Onitsha metropolis – Onitsha and parts of adjoining towns of Ogbaru, Obosi, Ogidi, Ogbunike and Nkwelle Ezunaka and there are over 40 markets of various sizes spread in this metropolis, the majority of which are classified for particular, distinct goods.

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The origins of the Onitsha Market can be traced back to the early 16th century (around 1506) when the Onitsha people settled by the banks of the River Niger. It began as a periodic market held every four days according to the Igbo calendar and eventually evolved into a daily trading hub.

In its earliest days, trade was conducted through barter, later transitioning to cowries as a medium of exchange. With the arrival of the Portuguese in the 18th century, the market grew further, as foreign goods like textiles, firearms, and liquor were exchanged for palm produce, ivory, and tragically, slaves.

The British later consolidated commercial activity during colonial rule, establishing Onitsha as a strategic river port town. The Royal Niger Company, brought to Onitsha in the late eighteenth century by the British colonial government, brought modernisation to the market.

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Their subsidiaries, John Holt, Kingsway Supermarkets, etc, established their grounds for business in Onitsha-Market. Everybody from the south, southeast, north and from the southwest to West Africa trooped to Onitsha for commercial activities. By the 20th century, the market had become a key economic hub, attracting both local and international merchants.

Onitsha became world news, and other countries soon had their interests registered for trade: France, Germany, Japan, Korea, Malaysia, etc, exported their manufactured goods into the Onitsha market. Most of these non-British products were not allowed in the main market, and this led to the establishment of a new market called Ochanja Market: Ochanja was an Onitsha derogatory word for low value.

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The Onitsha Main Market suffered significant setbacks in history. During the Nigerian Civil War in 1968, much of the market was destroyed. However, it was later rebuilt by the Premier of Eastern Nigeria, Dr. M. I. Okpara, the post-civil war governor of the East-Central State.

In 1984, tragedy struck when fires gutted both the Main Market and Ochanja Market. To cushion the effects, the Anambra State government created the Relief Market, which quickly became one of the fastest-growing in the region. Over the years, the market has survived wars, fires, and congestion, yet it continues to expand and adapt to changing times.

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Main market in Onitsha grew so big that many other big markets were created to accommodate other sales of wares and the traders. Some of these markets were:

• Ogbo ogwu (pharmaceutical)

• Ochanja Market (foodstuffs)

• Relief Market

• Ogbo efere (ceramics, plates and cooking ware)

• Ogbo abada (Textiles)

• Electrical market

• Ogbo okporoko (Stock fish)

• Ogbo-Osisi (timber market)

• Motor spare parts

• Building Material market

• Glass market

Economic Impact and Trade Volume

Onitsha Main Market has an estimated annual trade volume exceeding $5 billion, making it one of the largest markets in West Africa and contributing significantly to the region’s economy. This figure represents the total value of goods transacted within the market. The sheer scale of trade in Onitsha Main Market is shocking.

The population of traders and support-traders in the Onitsha market numbers above two million. There are over half a million jobs provided indirectly by Onitsha-Market in the areas of SMEs, artisans, and direct labour haulage by hand/head or by wheelbarrow/cart, loading, etc. Transport businesses and a host of other support businesses are in their boom, thanks to Onitsha-Market.

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Several traders in Onitsha-Market are classified as importers & exporters, having direct contacts with world-renowned manufacturers in Britain, Germany, India, China, Singapore, Indonesia, South Africa, Nigeria, etc. Many traders from Cameroon, Benin Republic, Ghana and South Africa, etc get feeds from Onitsha-Market. It also feeds many markets in Nigeria, especially the southeast, south-south and northern parts of the country.

• Traders receive over five million visits daily and record up to 12 million transactions every day.

• Annual trade volume is estimated at over $3 billion, with about 40% of this unbanked and circulating within the informal economy.

• Major importers handle hundreds of consignments yearly, with goods ranging from clothing, jewellery, and electronics to industrial equipment.

• The market attracts buyers and suppliers from across West Africa (Ghana, Cameroon, Benin, Côte d’Ivoire, Niger) and even as far as Asia, Europe, and America.

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It is no wonder that Onitsha is described as the commercial powerhouse of West Africa, with many regarding it as the city with one of the highest GDP contributions in Nigeria.

It embodies the industrious spirit of the Igbo people, who have for centuries been known for their trading acumen. It has weathered wars, fires, and economic shifts, yet continues to expand, feeding not just the Nigerian economy but much of West Africa’s.

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