The Oyo State Government has officially refuted widespread rumors that the Bola Ige International Business Complex, popularly known as Gbagi, would be closed on Monday, August 25, 2025.
In a statement released to the media on Sunday, August 24, the government described the speculation as “unfounded” and a deliberate attempt to cause tension within the business community.
The Commissioner for Investment, Trade, Cooperatives, and Industry, Hon. Adeniyi Adebisi, reassured traders and business owners that the complex would remain open for normal business operations. He labeled the rumors as “false, baseless, and a deliberate attempt by miscreants” to disrupt commercial activities.
“The Bola Ige International Business Complex remains a hub of commercial activities in the state, and at no point did the government contemplate shutting it down,” Hon. Adebisi stated. He urged the public to disregard the misleading information and rely only on official communication from the government.
Addressing Internal Issues
While dispelling the closure rumors, the commissioner also acknowledged existing issues within the complex. He noted that the government is aware of certain shop owners, particularly elders, who are allegedly exploiting petty traders by illegally allotting and charging for spaces in front of their shops.
Hon. Adebisi assured that the administration is taking steps to address these practices in a “fair and balanced manner.” He emphasized the government’s commitment to protecting the interests of all traders and ensuring a conducive environment for legitimate business.
Supporting the commissioner’s statement, Mr. Olajide Okesade, the Permanent Secretary of the Ministry, reaffirmed that there would be no closure. He confirmed that necessary security arrangements have been put in place to maintain peace and order at the complex.
“The Ministry wishes to assure all traders, customers, and stakeholders that there will be no closure of the Bola Ige International Business Complex on Monday,” Mr. Okesade said. “The rumour is unfounded, and everyone should go about their normal business without fear.”
The government has urged the public to ignore false information and rely solely on official statements from relevant authorities to avoid unnecessary panic. The commitment to fostering a thriving commercial environment under Governor Seyi Makinde’s administration remains a top priority.
