An appraisal of the influence of indigenous trade networks on economic sustainability in Ilesa East Local Government, Osun State
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- NGN 5000
Background of the Study:
Indigenous trade networks in Ilesa East Local Government have historically underpinned local economic systems, facilitating the exchange of goods, services, and cultural values. These networks, built on long-established relationships and trust, support small-scale traders and artisans while preserving traditional economic practices (Adesina, 2023). Despite rapid modernization and global market integration, indigenous trade networks continue to provide resilience against economic fluctuations and promote community self-reliance (Folarin, 2024). However, the pressures of globalization and modern retail have increasingly challenged these traditional systems. This study investigates how indigenous trade networks contribute to economic sustainability in Ilesa East by examining their structure, benefits, and challenges. It further explores ways to bolster these networks to maintain economic autonomy and cultural heritage amid evolving market dynamics (Balogun, 2025).
Statement of the Problem:
Modern market forces are gradually eroding indigenous trade networks in Ilesa East, threatening the economic sustainability of local communities. The displacement of traditional trading practices may lead to economic vulnerabilities and cultural disintegration. This study seeks to assess the influence of these trade networks on local economic resilience and identify challenges they face (Adesina, 2023).
Objectives of the Study:
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To evaluate the role of indigenous trade networks in local economic sustainability.
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To identify challenges posed by modern retail and globalization.
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To recommend strategies for strengthening indigenous trade practices.
Research Questions:
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How do indigenous trade networks influence economic sustainability in Ilesa East?
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What challenges do these networks face from modern market forces?
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What measures can enhance the resilience of indigenous trade networks?
Research Hypotheses:
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Indigenous trade networks positively influence local economic sustainability.
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Global market forces significantly challenge the efficacy of traditional trade systems.
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Strategic policy interventions can strengthen indigenous trade networks.
Significance of the Study:
This study is significant as it explores the impact of indigenous trade networks on economic sustainability. Its findings will help community leaders and policymakers develop strategies to preserve traditional economic practices and promote local development (Adesina, 2023).
Scope and Limitations of the Study:
This study is limited to Ilesa East Local Government, Osun State, focusing solely on the influence of indigenous trade networks on economic sustainability. Limitations include potential data reliability issues and the challenge of quantifying traditional trade impacts.
Definitions of Terms:
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Indigenous Trade Networks: Traditional systems of exchange based on local relationships and cultural practices.
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Economic Sustainability: The ability of an economy to maintain stable growth and resist external shocks over time.
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Globalization: The increasing integration of local economies into the global market system.
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