The Group Chief Executive of FCMB Group, Ladi Balogun, has hailed the economic value of the annual Ojude Oba Festival, which recently took place.

Balogun disclosed this in a statement made available to Akonitv on Sunday.

He noted that the festival attracts visitors from across Nigeria and the diaspora, contributing to the growth of trade and tourism in Ijebuland, Ogun State and Nigeria.

The FCMB Group Chief Executive urged Ijebu people to embrace the festival’s spirit of togetherness and use it as a springboard for further development and inspiration for younger generations.

FCMB Group has been supporting the Ojude Oba Festival for over 20 years.

This year’s Ojude Oba festival witnessed the participation of 90 Regberegbe groups, a significant increase from 76 in 2023.

Also, speaking on the festival’s economic impact, the CEO of Blooms Hotel in Ijebu-Ode, Adewale Adenugba, said, “The festival has significantly boosted business activities across Ijebuland over the years, coinciding with the Muslim Eid-el-Kabr celebration when many Ijebus and their friends return home.

“During this period, hotels in Ijebu-Ode and surrounding towns experience full occupancy, and relaxation centres also see increased activity. Artisans, traders, and vendors of various items, including festival paraphernalia, food, drinks, and transportation services, enjoy brisk business and substantial income. If we aggregate all these, the festival generates billions in revenue, benefiting not only Ijebu-Ode and Ogun State but also Nigeria. I urge the government to leverage this platform to promote tourism further.”

Meanwhile, the Ogun State Governor, Adedapo Abiodun, has affirmed the economic and social development potential of the festival and committed to elevating the Ojude Oba festival to a global stage.

The annual Ojude Oba festival is a celebration of Ijebu culture and tradition.