By Erewunmi Peace

The Olubadan of Ibadanland, Oba Rashidi Ladoja, has inaugurated the Monarch Investment and Economic Committee to spearhead economic revival and urban renewal in the ancient city. The inauguration took place on October 23, 2025, at the Olubadan Palace, Oke Aremo, with members of the Olubadan-in-Council in attendance.

The committee is chaired by Chief (Mrs.) Onikepo Akande, a former Minister of the Federal Republic, with Professor Dapo Afolabi, former Head of Service of the Federation, serving as co-chairman. Chief Tajudeen Aremu, former Head of Service in Oyo State, was appointed as the committee secretary.

Other notable members include Chief Adelodun Olaiya, Dr. Kazeem Sola Adeduntan, Chief Dotun Sanusi (Bada Olubadan-Designate), Chief Kola Karim, Chief Taofeek Adegboyega Adegoke, Alhaji Remi Bello, Chief Yomi Idowu, Chief Owolabi Oladejo, and Pastor Dr. Bayo Olugbemi.

Oba Ladoja highlighted the need to revive industries that were once the backbone of Ibadan’s economy, including Leyland, Exide Battery, Wire and Cable, Isoglass, and Ferodo, emphasizing the potential for job creation for the city’s youth. He noted that the committee members were selected for their experience, business acumen, and entrepreneurial success, which would be leveraged to restore Ibadan’s economic prominence.

Speaking on behalf of the committee, Secretary Chief Tajudeen Aremu pledged commitment to the Olubadan’s vision, promising to work toward reviving Ibadan’s economic landscape and fulfilling the expectations of the city’s residents.

This initiative underscores a strategic effort by the Olubadan and his council to reposition Ibadan as a hub of investment, industrial growth, and urban development.