Trying to make a real estate decision but how true is the notion that Onitsha is the largest market in Africa.
Which institution designated it as such?
Thanks.

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Reason for this thread is that I am trying to make a decision on the ad below:

Do you know that properties in Asaba would continue to experience appreciation because it enjoys proximity to the largest marketplace in Africa.


Investors who jump into this beautiful estate would get a good return on investment.

TITTLE: DEED OF ASSIGNMENT

TOPOGRAPHY: TABLE DRY LAND

OUTRIGHT PRICE: 3.5M
INSTALMENT PRICE: 4M

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70% of all the shipped cargoes that arrive at the Lagos ports, head straight to Onitsha.

That alone is a tell-tale sign of the hugeness of the Onitsha market.

Can't say for africa but it's the largest in west africa

Yes it is

OfoIgbo:
70% of all the shipped cargoes that arrive at the Lagos ports, head straight to Onitsha.

That alone is a tell-tale sign of the hugeness of the Onitsha market.

Is this a data from NBS?
I am looking at the fact that Lagos has more purchasing power and population than Onitsha but if it is from a data based institution,I concur.

OfoIgbo:
70% of all the shipped cargoes that arrive at the Lagos ports, head straight to Onitsha.

That alone is a tell-tale sign of the hugeness of the Onitsha market.

While all the factories, markets, projects and population (purchasing power) in Lagos, Ogun and the rest of the country share the remaining 30% abi? Are you not embarrassed with the quality of this lie

Please show us Data ?

OfoIgbo:
70% of all the shipped cargoes that arrive at the Lagos ports, head straight to Onitsha.

That alone is a tell-tale sign of the hugeness of the Onitsha market.

Raf4:


While all the factories, markets, projects and population (purchasing power) in Lagos, Ogun and the rest of the country share the remaining 30% abi? Are you not embarrassed with the quality of this lie

The figure he said might not be accurate but most of other states purchase from Onitsha.

Northern states, Edo, even rivers purchase goods from Onitsha.

Most states business men or traders don't import direct from China, Japan e.t.c

That's what make others sees Igbos as core business men/traders.

Those men in Onitsha men market, imports sells in bulk (wholesale) and also have shop where they retail.

Raf4:


While all the factories, markets, projects and population (purchasing power) in Lagos, Ogun and the rest of the country share the remaining 30% abi? Are you not embarrassed with the quality of this lie

Everybody is saying that their market is the biggest and largest.
Which one exactly is the largest in Africa?

That is what Ibo people want to believe
It makes them feel important
Even though there is no evidence whatsoever

Largest could mean two things
1. Land Mass There are no statistics to back this up
2. Good sold value. Again there is no statistic to back this up

Just some wild claims from people who overdose on akpu and start spewing unsubstantiated figures

Let them start by telling us the land mass occupied by Onitsha market

They will tell you how Moses released the Hebrews from Egypt and fed them with Manna and quails

So much explanation no evidence

Gajagojo:
Let them start by telling us the land mass occupied by Onitsha market

They will tell you how Moses released the Hebrews from Egypt and fed them with Manna and quails

So much explanation no evidence

They dont deal in facts.

busybiz:

Is this a data from NBS?
I am looking at the fact that Lagos has more purchasing power and population than Onitsha but if it is from a data based institution,I concur.

It's a data I have heard bandied around by pretty reliable sources.

I even consider it way more reliable when people like Prof. Pat Utomi started to repeat this line in interviews.

Also bear in mind that Onitsha is a huge market. People from much of West Africa head to Onitsha to go purchase one thing or another.

Additionally consider the fact that the most popular markets in Lagos are controlled by people who have huge bases in Onitsha, Nnewi and possibly Aba.

Gajagojo:
Let them start by telling us the land mass occupied by Onitsha market

They will tell you how Moses released the Hebrews from Egypt and fed them with Manna and quails

So much explanation no evidence

What's your point self?

The organisation that ranked it as Number 1 in west africa, direct your question to them

Sometime you guys don't know where to direct your anger

CyrusVI:


They dont deal in facts.

Lo explicarán hasta agotarse, no hay pruebas.

Raf4:


While all the factories, markets, projects and population (purchasing power) in Lagos, Ogun and the rest of the country share the remaining 30% abi? Are you not embarrassed with the quality of this lie

The major Lagos markets are controlled and owned by people who have their main bases in Onitsha, Nnewi and Aba.

You hopefully can now see why 70% of shipped containers to Lagos, head to Onitsha.

Cant wait to see u all relocate your goods from the other regions to Onitsha

Una go sit down for far away dey hail una home wey una no fit relocate go. Wetin be the point?

Thats how some urchins were telling us how Aba now have 24hours electricity yet they would rather live in Akure


Go home,una no gree.

If the Paradise was that great, you'd have exited the Earth to that side long ago

And for fools that would wanna quote me, I stay in Anambra and i dey come Kano street tomorrow come buy wigs, I wan branch Emeka Ofor plaza to get a new phone sef, we fit jam for there

Bendeco2020:


What's your point self?

The organisation that ranked it as Number 1 in west africa, direct your question to them

Sometime you guys don't know where to direct your anger

Lo explicarás hasta agotarte, no hay evidencia

Bendeco2020:

The figure he said might not be accurate but most of other states purchase from Onitsha.

Northern states, Edo, even rivers purchase goods from Onitsha.

Most states business men or traders don't import direct from China, Japan e.t.c

That's what make others sees Igbos as core business men/traders.

Those men in Onitsha men market, imports sells in bulk (wholesale) and also have shop where they retail.

The information I provided is very accurate. 70% of shipped cargoes arriving Lagos, head to Onitsha

OfoIgbo:


The major Lagos markets are controlled and owned by people who have their main bases in Onitsha, Nnewi and Aba.

You hopefully can now see why 70% of shipped containers to Lagos, head to Onitsha.

Lo explicarás hasta agotarte, no hay evidencia

OfoIgbo:


The information I provided is very accurate. 70% if shipped cargoes arriving Lagos, head to Onitsha

Lo explicarás hasta agotarte, no hay evidencia

OfoIgbo:


It's a data I have heard bandied around by pretty reliable sources.

I even consider it way more reliable when people like Prof. Pat Utomi started to repeat this line in interviews.

Also bear in mind that Onitsha is a huge market. People from much of West Africa head to Onitsha to go purchase one thing or another.

Additionally consider the fact that the most popular markets in Lagos are controlled by people who have huge bases in Onitsha, Nnewi and possibly Aba.

It could be true but no data from any institution just something that has been bandied all over the place?
To my mind,I think ships usually are birthed in Lagos,mostly bringing goods to Nigeria.
I think it is more probable to say that Balogun Market is the largest in Nigeria just like some people have claimed in my screenshot.
Or maybe no one knows the biggest market in Nigeria?

Gajagojo:


Lo explicarás hasta agotarte, no hay evidencia

Dem go explain tireeee

CyrusVI:


Dem go explain tireeee

no hay evidencia

busybiz:

Everybody is saying that their market is the biggest and largest.
Which one exactly is the largest in Africa?

Nwokem, Onitsha accounts for 70% of shipped cargoes arriving in Lagos.
I bet Balogun market probably accounts for about 4 containers per day

Merkato is an OPEN-AIR market, and even at that, I am sure the volume of trade in that market is not up to 5% of what happens in Onitsha, otherwise the ethnic group that owns that market would have been one of the richest ethnic groups in Africa.

Onitsha is their daddy

OfoIgbo:


Nwokem, Onitsha accounts for 70% of shipped cargoes arriving in Lagos.
I bet Balogun market probably accounts for about 4 containers per day

Merkato is an OPEN-AIR market, and even at that, I am sure the volume of trade in that market is not up to 5% of what happens in Onitsha, otherwise the ethnic group that owns that market would have been one of the richest ethnic groups in Africa.

Onitsha is their daddy

No evidence
Just something Eboes say to feel good about themselves

busybiz:

Is this a data from NBS?
I am looking at the fact that Lagos has more purchasing power and population than Onitsha but if it is from a data based institution,I concur.

I doubt his assertion too but the Onitsha cargoes do not end up only in Onitsha, some heads to Aba and other parts in the East yet I still doubt his data, 70% seems much of exaggeration

Gajagojo:
That is what Ibo people want to believe
It makes them feel important
Even though there is no evidence whatsoever

Largest could mean two things
1. Land Mass There are no statistics to back this up
2. Good sold value. Again there is no statistic to back this up

Just some wild claims from people who overdose on akpu and start spewing unsubstantiated figures

I've done the research and the largest market in Nigeria by total land area is Trade fair complex Lagos but the entire space isn't fully occupied. The largest market by occupied land area is Ariaria market, Aba.

I've not seen statistics on volume of trade but Onitsha Main Market might actually have the largest volume of trade by a single market. As f

On the number of shops the United Nations assisted Market energy projects rated Ariaria Market as the market with the highest number of occupied Stores at 37,000 shops . More information can be gotten here

https://eei.rea.gov.ng/phaseimarkets/#inpori

OfoIgbo:


The information I provided is very accurate. 70% of shipped cargoes arriving Lagos, head to Onitsha

When I was in school there was a course called quantitative technique, there was another one called managerial economics, those 2 courses will make you understand how firms make investment decisions, nobody throws millions around because of an unverified statistics thrown around on Nairaland, that's why the op was asking for the source of your data so as to arrive on an informed decision or judgment, that is how educated people make decisions, that Decision can make or mar your million dollar investment, that's why CEOs are paid handsomely..


Now back to your claim, let's assume that truly people who control Lagos market are from Onitsha, do you think it make any iota of economic sense to send those cargos directly to Onitsha before now bringing it back to Lagos for sale considering the fact that Lagos has more purchasing power than Onitsha in all area?

busybiz:

It could be true but no data from any institution just something that has been bandied all over the place?
To my mind,I think ships usually are birthed in Lagos,mostly bringing goods to Nigeria.
I think it is more probable to say that Balogun Market is the largest in Nigeria just like some people have claimed in my screenshot.
Or maybe no one knows the biggest market in Nigeria?

When 70% of all the shipped cargoes that come into Nigeria, head to Onitsha, tell me what it is that Balogun sells, because I am pretty certain that the remaining 30% are not sent to Balogun market. In fact I can even make an intelligent guess that Balogun does not even consume up to 10% of the remainder cargoes.

Abagworo:


I've done the research and the largest market in Nigeria by total land area is Trade fair complex Lagos but the entire space isn't fully occupied. The largest market by occupied land area is Ariaria market, Aba.

I've not seen statistics on volume of trade but Onitsha Main Market might actually have the largest volume of trade by a single market. As f

On the number of shops the United Nations assisted Market energy projects rated Ariaria Market as the market with the highest number of occupied Stores at 37,000 shops . More information can be gotten here

https://eei.rea.gov.ng/phaseimarkets/#inpori

There are so many types of markets
FOREX market
Stock Market
Livestock Market
Food Market
Capital Market
Telecommunication Market
Fish Market
ONLINE maarket
Motor market
and so on

Lagos state houses the most important market in Nigeria
If Onitsha drops off the surface of the earth Nigeria will not notice