In a bid to drive economic revival and urban renewal of Ibadanland, His Imperial Majesty, Oba Rashidi Adewolu Ladoja, Arusa I, has taken a significant step by inaugurating the Monarch Economic and Investment Committee. The committee, chaired by Chief (Mrs) Onikepo Akande, former Minister of Industry, Trade and Investment, and co-chaired by Prof. Oladapo Afolabi, former Head of Service of the Federation, is tasked with restoring Ibadan’s lost economic vibrancy and attracting new investments to the city. The inauguration ceremony, attended by members of the Olubadan-In-Council, took place on Thursday at the Olubadan Palace, Oke Aremo, Ibadan.
According to a statement by Adeola Oloko, the media aide to Olubadan of Ibadanland, other members of the committee include Chief Adelodun Olaiya; Dr. Adesola Adeduntan, former Group Managing Director of First Bank of Nigeria; Chief Dotun Sanusi, Bada Olubadan-Designate and Chairman, Ilaji Hotels and Sports Resort; Agbaoye Kola Karim; Chief Taofeek Adegboyega Adegoke, Aaregbe Omo Balogun of Ibadanland and Chairman, Solutions FM; and Chief Tajudeen Aremu, *Bobajiro* of Ibadanland and former Oyo State Head of Service, who will serve as Secretary as nominated by His Imperial Majesty himself.
Also on the list are Alhaji Remi Bello, former President of the Lagos Chamber of Commerce and Industry; Chief Yomi Idowu, the *Agbaakin Atayese* of Ibadanland; Chief Owolabi Oladejo, media promoter; and Dr. Bayo Olugbemi, former President and Chairman, Governing Council of the Chartered Institute of Bankers of Nigeria (CIBN).
In his remarks during the inauguration, Oba Ladoja said the committee’s task is to restore Ibadan’s lost economic vibrancy and attract new investments to the city.
“The people of Ibadan are yearning for the glory of yesteryears when our city was a major hub of investment and industrial activity.
In his words: “Since the kingmakers approved my appointment in July, we have been trying to find out why these companies disappeared and how we can bring them back to create employment opportunities for our youths,” the monarch stated.
Oba Ladoja described the committee members as “business brands, captain of industry and successful entrepreneurs with an amazing wealth of experience” from which the throne hopes to tap for the city’s progress.
Responding on behalf of the committee, the Secretary, Chief Aremu, pledged the team’s commitment to the Olubadan’s vision.
According to him, “We are determined to meet the yearnings and aspirations of His Imperial Majesty and the Olubadan-in-Council, and we will do our best to justify the confidence reposed in us.”
Shortly after inauguration, the Monarch Economic and Investment Committee held it’s inaugural meeting at the Olubadan-In-Council Chamber as approved by Oba Rashidi Ladoja who also attended the meeting.
Speaking with newsmen immediately after the inaugural meeting, Chief Tajudeen Aremu further explained that the committee is purposely to assist Ibadanland and its people in many economic areas that will improve the lot of the generality of Ibadanland.
According to him, “the committee is to brainstorm on how to improve the ancient city. For example through the persuasion of Olubadan and his Council to resuscitate many of those companies that have gone down. Are people no more using batteries? Why is Exide Battery no more in operation? Can we do something about it to bring investors to come and invest here,” he stated.
“Are people no more using cable? Why has Nigeria Wire and Cable in Ibadan gone down? What other ways can we use to bring about economic development, industrialization, improvement in agriculture in Ibadanland. Can we persuade the Mogajis and the Baales to readily submits, see what they can do to assist whoever meets them for agricultural projects in their respective areas.”
“We don’t want business as usual again. We want advancement and that is why the committee is composed of captain of industry, who have been suggesting how we can raise fund in Ibadanland and how we can legitimately invest it and ask for partners that can cooperate with us to turn this place to something better than it is now,” he added.
“Employment is very important, if all these companies are woken up, our people will get jobs to do. That is the thinking of His Imperial Majesty, the Olubadan of Ibadanland which he has told us among the term of reference given to this economic and investment committee,” he concluded.
