Olubadan of Ibadanland inaugurates a high-powered economic committee to revive Ibadan’s economy and restore its status as a thriving investment hub

Olubadan of Ibadanland, Oba Rashidi Ladoja, has inaugurated a high-powered Monarch Investment and Economic Committee to revitalise Ibadan’s economy and promote sustainable urban renewal.

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The initiative, launched at the Olubadan Palace, Oke Aremo, brings together seasoned business leaders and professionals tasked with repositioning the ancient city as a vibrant investment destination.

Oba Ladoja appointed Chief (Mrs) Onikepo Akande, a two-time Minister of the Federal Republic of Nigeria, as the Committee Chairman, while Prof. Dapo Afolabi, former Head of the Civil Service of the Federation, will serve as Co-Chairman.

Other distinguished members include Chief Adelodun Olaiya, Dr Sola Adeduntan, former Group Managing Director of First Bank of Nigeria, Bada Olubadan-Designate Chief Dotun Sanusi, Agbaoye Kola Karim, and Aregbe Omo Balogun Chief Taofeek Adegboyega Adegoke. A former Head of Service in Oyo State, Chief Tajudeen Aremu, was appointed Secretary of the Committee.

The committee also features Alhaji Remi Bello, former President of the Lagos Chamber of Commerce and Industry; Chief Yomi Idowu, the Agbaakin Atayese of Ibadanland; Chief Owolabi Oladejo, a renowned media promoter; and Pastor (Dr) Bayo Olugbemi, former President and Chairman of the Chartered Institute of Bankers of Nigeria (CIBN).

Oba Ladoja said the team’s central mission is to restore Ibadan’s lost economic glory, lamenting the decline of once-prominent industrial establishments such as Leyland, Exide Battery, and Wire and Cable.

He challenged the committee to explore innovative strategies for reviving such enterprises and creating employment opportunities for the city’s growing youth population.

“The committee members were carefully selected for their expertise and proven track records in business, entrepreneurship, and governance,” the Olubadan said.

“I am confident that their collective wisdom and dedication will help reposition Ibadan as a leading centre of commerce and industry.”

In his response, Chief Tajudeen Aremu, speaking on behalf of the committee, pledged full commitment to delivering on the monarch’s vision.

He assured that the group would work diligently to stimulate economic growth, attract investors, and restore public confidence in Ibadan’s business environment.

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The inauguration marks a bold step by the Olubadan of Ibadanland towards aligning traditional leadership with modern economic development, signalling renewed optimism for the city’s future.