Oba Ladoja unveils economic committee to reposition Ibadan as investment hub

By Adejayan Gbenga –

The Olubadan of Ibadanland, Oba Rashidi Ladoja, has inaugurated the Monarch Investment and Economic Committee, a high-powered body charged with repositioning the ancient city as a leading economic hub in Nigeria.

The inauguration ceremony took place on Thursday at the Olubadan Palace, Oke Aremo, Ibadan, and was attended by members of the Olubadan-in-Council and other distinguished guests.

Oba Ladoja appointed the Iyalaje Iyalode of Ibadanland and former two-time Minister of the Federal Republic, Chief (Mrs.) Onikepo Akande, as Chairman of the committee, while Professor Dapo Afolabi, former Head of the Civil Service of the Federation, will serve as Co-Chairman.

Other notable members of the committee include Chief Adelodun Olaiya; Dr. Kazeem Sola Adeduntan, former Group Managing Director of First Bank of Nigeria; Chief Dotun Sanusi, Bada Olubadan-Designate; Chief Kola Karim, Agbaoye of Ibadanland; and Chief Taofeek Adegboyega Adegoke, Aregbe Omo Balogun.

The former Oyo State Head of Service, Chief Tajudeen Aremu, was appointed Secretary of the committee, alongside other distinguished members such as Alhaji Remi Bello, former President of the Lagos Chamber of Commerce and Industry; Chief Yomi Idowu, Agbaakin Atayese of Ibadanland; Chief Owolabi Oladejo, a media entrepreneur; and Pastor Dr. Bayo Olugbemi, former President and Chairman of the Governing Council, Chartered Institute of Bankers of Nigeria (CIBN).

In his address, Oba Ladoja lamented the collapse of several once-thriving industries in Ibadan, such as Leyland, Exide Battery, Wire and Cable, Isoglass, and Ferodo, stressing the importance of reviving industrial activities to create jobs and restore the city’s economic pride.

“Since my appointment was approved in July, we have been exploring how these companies disappeared — and, more importantly, how we can revive such industries to create employment opportunities for our teeming youths,” the monarch stated.

Responding on behalf of the committee, Chief Tajudeen Aremu pledged the members’ full commitment to fulfilling the Olubadan’s vision, assuring that the team would justify the confidence reposed in them through impactful economic initiatives.