OICL, Olubadan Deepen Strategic Alliance to Power Economic Revival
…Push for Regional Dev’t During Courtesy Visit
A renewed and accelerated partnership between Odu’a Investment Company Limited (OICL) and the Olubadan of Ibadanland, Oba Rashidi Ladoja, is set to drive a new wave of economic growth, investment, and regional integration across Southwest Nigeria, beginning with Ibadan.
This commitment was reaffirmed on Tuesday when the Group Chairman of OICL, Bimbo Ashiru, led members of the board and management on a courtesy visit to the monarch at the Olubadan Palace in Ibadan.
Ashiru described the engagement as the beginning of a more structured and results-driven collaboration aimed at unlocking Ibadan’s economic potential and positioning it as a catalyst for broader regional development.
“We are aligning closely with Kabiyesi and his economic team to ensure that Ibadan becomes a strong hub for investment and enterprise. This is not just about the city, but about setting a model that can be replicated across the Southwest,” he said.
Central to the partnership is a focus on coordinated economic planning, with the Olubadan Economic and Investment Committee scheduled to meet with OICL on May 6 to harmonise strategies and identify joint initiatives.
Both parties signaled readiness to pursue transparent and impactful engagements that will attract investors and stimulate local industries.
Ashiru emphasized the critical role of small and medium-scale enterprises (SMEs) in driving growth, noting that OICL would work with the palace to support grassroots businesses, expand opportunities, and create jobs.
“Small businesses remain the backbone of any thriving economy. Supporting them in Ibadan will not only grow the local economy but also strengthen the entire region,” he added.
As part of the evolving collaboration, discussions also focused on leveraging key assets such as Aje House as a potential economic hub, while ongoing redevelopment projects—including Cocoa House and Premier Hotel—are expected to reinforce Ibadan’s re-emergence as a commercial powerhouse.
Beyond Ibadan, the partnership is being positioned as a strategic platform for regional economic integration across the Southwest, with OICL reaffirming its long-term commitment to ensuring that idle assets are transformed into productive ventures.
In his response, Oba Ladoja called for a bold shift towards regional economic independence, urging stakeholders to reduce reliance on foreign control and revive the Southwest’s historic leadership in enterprise and innovation.
“We must begin to look inward and harness our resources. Too many of our assets are being taken over by outsiders. If we do not take deliberate steps, we risk losing what rightfully belongs to us,” the monarch said.
He stressed the need for synergy among key regional institutions, including DAWN Commission and South West Development Commission, alongside OICL, to drive a unified economic agenda.
“What stops us from having our own rail systems or even refineries? The Southwest has always led Nigeria in development. We must reclaim that position and build for future generations,” Oba Ladoja added.
The monarch also underscored the importance of collaboration rather than competition among regional actors, noting that the shared vision is to surpass the achievements of past generations and secure sustainable prosperity.
