The Oyo State Government has taken a significant step toward revolutionizing agricultural marketing in Nigeria by signing a strategic cooperation agreement with Semmaris, the renowned French company that manages the world-famous Rungis International Market in Paris.
The landmark agreement, signed this morning in Paris, France, paves the way for the development of a modern agri-food market in Ijaiye, Ibadan, which aims to transform agricultural trade and food distribution in Oyo State and across southwestern Nigeria.
Our correspondent gathered that a senior representative of the Oyo State Government signed the agreement on behalf of Governor Seyi Makinde, marking the culmination of months of negotiation and planning between the state government and the French agricultural market specialists.
“This partnership represents a transformative opportunity for Oyo State’s agricultural sector,” said the government representative after the signing ceremony. “By replicating the Rungis model in Ibadan, we are setting the stage for improved market access for our farmers, enhanced food security, and significant job creation.”
Semmaris, which operates the 234-hectare Rungis International Market widely regarded as the largest wholesale food market in the world will bring its extensive expertise in modern market infrastructure development and management to the Ijaiye project. The Paris-based market hosts over 1,200 companies, employs approximately 12,000 people, and records annual transactions worth billions of euros.
Agricultural experts believe this development could significantly boost Oyo State’s agricultural value chain by providing farmers with direct access to formal markets, reducing post-harvest losses, and creating thousands of jobs across the agricultural sector.
Dr. Bamidele Adekunle, an agricultural economist at the University of Ibadan, explained the potential impact: “This is exactly the kind of investment our agricultural sector needs. Modern market infrastructure can reduce the estimated 40% post-harvest losses Nigerian farmers experience and potentially increase their income by 25-30% through better price discovery and market access.”
The planned agri-food market in Ijaiye is expected to feature modern cold storage facilities, quality control systems, logistics centers, and trading platforms for various agricultural products including fruits, vegetables, meat, and seafood.
Business leaders in Oyo State have welcomed the development. Alhaja Romoke Adewusi, President of the Oyo State Market Traders Association, told our correspondent: “This will revolutionize how we trade agricultural produce. Our members are excited about the prospects of a cleaner, more organized, and more efficient trading environment.”
The project aligns with Governor Makinde’s economic expansion agenda, which has consistently prioritized agricultural development and modernization as pillars of the state’s economic growth strategy.
While specific details regarding the project timeline and investment value were not immediately disclosed, sources close to the government indicate that construction could begin within six months, with the first phase of the market potentially operational by late 2026.
As Oyo State positions itself as an agricultural hub in Nigeria, this partnership with Semmaris represents one of the most significant foreign investments in the state’s agricultural sector and demonstrates growing international confidence in Nigeria’s agricultural potential.
Oyo State Government Signs Strategic Partnership with French Firm for Modern Agri-Food Market Development
