-By Tunji Oladejo
In a significant development today, 23 October, 2025, the Olubadan of Ibadanland, Oba Rashidi Ladoja, has taken a decisive step to revitalise the economic fortunes of the ancient city by inaugurating the Monarch Investment and Economic Committee. This bold initiative is aimed at bringing back the lost glory of Ibadan as a major hub of investment and economic activities.
The Committee, comprising renowned business leaders, economists and seasoned administrators is expected to provide a roadmap for the economic revival of Ibadan. The inclusion of prominent individuals such as Chief Mrs Onikepo Akande, Prof. Dapo Afolabi and Dr Kazeem Sola Adeduntan, among others, is proof of the Olubadan’s commitment to leveraging expertise and experience to drive growth and development in the city.
The Olubadan’s vision is clear: to recreate the economic vibrancy of Ibadan’s past, when companies like Leyland, Exide Battery, and Wire and Cable were major players in the city’s industrial landscape. The Committee’s mandate is to identify the factors that led to the decline of these companies and to explore ways to revive them, thereby generating employment opportunities for the teeming youth population in Ibadanland.
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The inauguration of the Monarch Investment and Economic Committee is a welcome development that holds great promise for the people of Ibadan. The Committee’s work will undoubtedly contribute to the growth and development of the city, and it is expected to serve as a catalyst for economic transformation in Oyo State and beyond.
As the Committee begins its work, it is imperative that stakeholders, including government agencies, private sector operators and civil society organisations, rally behind this initiative to ensure its success.
The Olubadan’s leadership and vision are a clear indication that Ibadan is poised for a major economic turnaround and with the right support, the city can reclaim its status as a thriving economic hub.
Tunji Oladejo writes from the University of Ibadan via oladejo65@gmail.com
