The Role of Market Associations in the Development of Oja’oba Market in Ibadan

Abstract

Market Associations is an integral phenomenon on economic activities in Yorubaland. This study is an historical examination of the contribution of Market Associations to the growth and development of Oja’Oba market in Ibadan. It examines various associations in Oja’Oba market in Ibadan and their formations. The study revealed that the success of economic transactions in a market economy is determined by medium of exchange and availability of market associations which provide social interactions to individual involved in market transactions. The study derived its data from primary and secondary sources. The study concluded that market associations contributed greatly to the evolution of Oja’Oba market in Ibadan by providing links between traders, financial assistance to members and arbiters in conflict resolution.