Olubadan Moves to Revamp Ibadan Economy, Endorses Development Blueprint

The Olubadan of Ibadanland, Oba Rashidi Ladoja, has expressed optimism that Ibadan will soon experience significant economic transformation, following the signing of a comprehensive economic and investment blueprint designed to accelerate development across the ancient city.

The monarch gave the assurance after signing the Olubadan Economic and Investment Committee blueprint at the Olubadan Palace, Oke-Aremo, in Ibadan North Local Government Area of Oyo State, on Monday.

The development was disclosed in a statement issued on Tuesday by his media aide, Chief Adeola Oloko.

Oba Ladoja said the completion of the economic blueprint marked an important step towards repositioning Ibadan as a major centre of economic activities, investment and industrial development.

The committee, which was established by the monarch on October 23, 2025, was mandated to develop a sustainable economic framework that would provide a strong foundation for the city’s long-term growth and prosperity.

The document was prepared by the Olubadan Economic and Investment Committee, chaired by two-time former Minister, Chief Onikepo Akande, with former Head of the Civil Service of the Federation, Professor Dapo Afolabi, serving as co-chairman.

Speaking at the signing ceremony, the Olubadan described the document as a comprehensive economic charter that would guide the planning and implementation of development programmes across critical sectors.

He explained that the blueprint covers agriculture, mining, tourism, security, industrialisation and other areas capable of strengthening the city’s economy.

According to the monarch, the framework would provide the necessary direction for identifying economic opportunities, attracting investments and implementing policies that would improve the living conditions of residents.

He expressed confidence that Ibadan had enormous economic potential, adding that the newly developed framework would help unlock opportunities for sustainable development.

Oba Ladoja also commended members of the committee for their commitment, dedication and sacrifices in producing the economic charter after months of intensive work.

Earlier, the committee’s chairperson, Chief Onikepo Akande, expressed appreciation to the Olubadan for finding the members worthy of the responsibility and giving them the opportunity to contribute to the development of Ibadanland.

She acknowledged the confidence reposed in the committee and reaffirmed its commitment to supporting the monarch’s vision for economic advancement.

The co-chairman, Professor Dapo Afolabi, also praised the committee members for contributing their time, resources and professional expertise towards producing the document.

Presenting the economic charter, Ambassador Akinremi Bolaji, stressed that the successful presentation of the blueprint was only the beginning of the task ahead.

He called for collective commitment and cooperation among relevant stakeholders, noting that the implementation of the proposals would require the participation of government institutions, investors, traditional authorities and other development partners.

Several prominent traditional rulers attended the presentation ceremony, including the Balogun of Ibadan, Oba Tajudeen Ajibola; the Otun Balogun, Oba Kolawole Adegbola; the Osi Olubadan, Oba Abiodun Kola-Daisi; and the Osi Balogun, Oba Abiodun Azeez Agagagugu.

Other members of the Olubadan-in-Council present were the Asipa Olubadan, Oba Hamidu Ajibade; the Ekerin Olubadan, Oba Adebayo Akande; and the Ekarun Balogun, High Chief Adeniran.

The Minister of Power, Mogaji Joseph Tegbe, was also among the dignitaries who attended the event, alongside virtually all members of the economic committee.

The signing of the blueprint is expected to provide a strategic framework for mobilising investments, strengthening key sectors and positioning Ibadan for greater economic opportunities.

With the document now formally endorsed, attention is expected to shift towards translating its proposals into practical programmes that will stimulate economic growth, create employment opportunities and improve infrastructure across Ibadanland.

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