Olubadan Announces Economic Revival Plan for Ibadan
The Olubadan of Ibadanland, Oba Senator Rashidi Adewolu Ladoja, has declared that Ibadan will soon experience rapid economic transformation during a significant meeting with business leaders at the Olubadan Palace in Oke Aremo.
The monarch made this announcement on Thursday, November 27, 2025, while receiving members of the Fast-Moving Consumer Goods Association of Oyo State (FMCG) who paid him a courtesy visit. Oba Ladoja emphasized that transitioning from distribution to manufacturing would maximize profits and create substantial employment opportunities for the people of Ibadan.
New Economic Committee to Address Infrastructure Challenges
Recognizing the critical challenges facing manufacturing industries in Ibadanland, particularly in areas such as electricity supply, water access, and road infrastructure, the Olubadan revealed that the Olubadan In-Council has established an Economic and Investment Committee. This committee has been specifically tasked with finding solutions to the infrastructure problems hindering industrial growth in the ancient city.
"To alleviate the problems confronting manufacturing industries in Ibadanland, such as electricity, water, roads, among others, the Olubadan In-Council has established the Economic and Investment Committee to address the aforementioned challenges," the traditional ruler stated during the meeting.
Business Community Pledges Support for Development
The founder of the FMCG Oyo State branch, Alhaja Apeke Tunrayo Adeogun, used the occasion to congratulate Oba Ladoja on his ascension to the throne and offered prayers for his health, prosperity, and long life. She assured the monarch that the FMCG Association would contribute significantly to Ibadan's economic progress and development initiatives.
In a related development, the management of JAIZ Bank PLC from their Ibadan branch also visited the Olubadan to show solidarity. The Group Head, Mr. Ismail Arowolo, pledged the bank's commitment to supporting rapid economic development in Ibadan city, extending their support to both corporate organizations and individual entrepreneurs.
The event was graced by several prominent traditional rulers and dignitaries including:
- Oba Salawudeen Amidu Ajibade, the Ashipa Olubadan of Ibadanland
- Oba Abiodun Azees, Ashipa Balogun of Ibadanland
- Oba Akeem Mobolaji Adewoyin, Ekerin Balogun of Ibadanland
- Mogaji Jelil Adepoju of Akoto compound
- Alhaji Aare Dawud Makanjuola Akinola De-damak, the Aare Musulumi of Ibadanland
Traditional Leadership Reimagined for Community Service
In a separate but related development, Oba Ladoja addressed newly promoted chiefs, urging them to embrace their titles as a call to serve the community rather than seeking personal glamour. The monarch made these remarks during the promotion ceremony of seven senior chiefs in the Otun Olubadan line.
Oba Ladoja declared that "the era of glamour in royalty is gone," emphasizing that modern traditional leadership requires compassion, responsibility, and active commitment to people's welfare. "Now, royalty is about what you have to offer your community. It is about ministering to the needs of the indigent in our midst. It is about ameliorating the condition of our people," he told the gathering.
The newly elevated chiefs include:
- Veteran journalist Oloye Lekan Alabi - promoted to Abese Olubadan
- Senior Chief Ismaila Akinade Fijabi - now Maye Olubadan
- Senior Chief Saka Fola Lapade - new Ekefa Olubadan
- Former Senate Leader Teslim Folarin - elevated to Agbaakin Olubadan
- Senior Chief Muibi Ademola Adewuyi - became Aare Alaasa Olubadan
- Senior Chief Raufu Delesolu - promoted to Ikolaba Olubadan
- Senior Chief Hammed Lanihun - now Asaaju Olubadan
The Olubadan expressed confidence in the newly promoted chiefs, describing them as individuals of means and influence who are well-positioned to positively impact lives across Ibadanland through their new roles and responsibilities.
