All Set for Ladoja’s Coronation as 44th Olubadan

Kemi Olaitan

The ancient city of Ibadan, the capital of Oyo State, is in a fecund mood for the coronation of the 44th Olubadan of Ibadanland, Oba (Senator) Rasidi Ladoja.
For any visitor entering the city, it would not be difficult to know that a grand event is in the offing, no thanks to large billboards placed in strategic places by prominent indigenes and politicians from the city congratulating the former governor on his ascension to the throne of his forefathers.  Also, varieties of Aso Ebi have been bought to mark the historic occasion.

Indeed, the organisers which comprise of two committees with one set up by the state government and the other by the umbrella body of Ibadan indigenes, the Central Council of Ibadan Indigenes (CCII) have unveiled a comprehensive eight-day timeline of events stretching from Monday, September 22 to Saturday, October 4, that reflects the spiritual depth and cultural richness of the traditional heritage of Ibadanland.
The celebrations will begin with a special inter-religious prayer session at the Olubadan Palace, Oke Aremo, while later in the day, the cultural spotlight shines on the command performance of ARUSA, a stage play dramatising the lineage and legacy of Ibadan kingship.

On Tuesday, the heartbeat of the city will echo through music, dance, and artistry during a special coronation cultural fiesta at the Olubadan Stadium to be followed on Wednesday with the first Coronation Lecture expected to contextualise the significance of the Olubadan throne within Yoruba and African history and to be delivered by renowned historian Prof. Toyin Falola at the International Conference Centre (ICC), University of Ibadan.
The fourth day (Kabiyesi’s Birthday) will begin with a special birthday Islamic prayer session at the Olubadan House, Oke Aremo, at 11:00 a.m., followed by a mega praise and worship concert – a celebration of faith and festivity.

The centrepiece of the historic celebrations unfolds on day five – Coronation day – at Mapo Hall, where the former governor will officially be crowned the 44th Olubadan of Ibadanland and is expected to draw dignitaries, traditional rulers, and political leaders from across Nigeria and beyond with a grand reception following at the historic Obafemi Awolowo  Stadium, promising pageantry and cultural splendor.

Other activities lined up include a Christian Thanksgiving service on Day Six at The Cathedral Church of The Ascension, New Bodija, Ibadan, followed by a civic reception at Ibadan Civic Centre; special Jumat service at the Central Mosque, Oja’ba on Day Seven expected to bring the Muslim community together in thanksgiving prayers for the new Olubadan and will be rounded up with a traditional thanksgiving Isese ceremony at Osemeji, Oja’ba on Saturday, October 4, to pay homage to the deep-rooted customs and ancestral heritage of the ancient city.

The stool of Olubadan, which is the supreme leadership position in Ibadan, was founded in the 19th century and characterised by a unique merit-based rotational succession system rather than hereditary rule, which alternates between the civil (Otun) and military (Balogun) chieftaincy lines.
This system ensures experienced, seasoned leaders from any social class ascend through the chieftaincy ladder to the Olubadan title, symbolizing Ibadan’s cultural unity, continuity, and rich traditions as the paramount ruler.
What is important, however, is that when an Olubadan dies, a vacancy is filled by the most senior chief from the next line in the rotational order.

While the unique rotational succession system has been lauded by people of other towns most especially in Yorubaland, however in the last few years, it has been dodged with controversies. The first controversy reared its head during the administration of late Governor Abiola Ajimobi who elevated members of the Olubadan-in-Council to monarchs with crown, an action which was kicked against by the then Olubadan, Oba Saliu Adetunji and the Olubadan-designate who was then Osi Olubadan of Ibadanland, took the late governor to court.

The controversy was to continue under the administration of the incumbent Governor Seyi Makinde, who reinvented the same law and re-crowned the monarchs. Oba Ladoja, now a lone voice with the death of Oba Adetunji, stood away again.

Speaking on the controversy, the former Governor said, “I only want to adorn one crown and that is the Olubadan crown. My journey on the Olubadan line is not about politics. It is a matter of tradition, identity, and service.”

Oba Ladoja maintained that the chieftaincy system of the ancient city must not be politicised or commercialised. “Ibadan does not need multiple kings,” he noted, insisting that the hierarchical order that allows a Mogaji to one day become Olubadan is one of the city’s most democratic and egalitarian legacies.

The state government at the coronation of the late 43rd Olubadan, Oba Owolabi Olakulehin, on July 12, 2024, was to publish a gazette of the new law, mandating it for all Ibadan High Chiefs to accept obaship before their eventual promotion.

Indeed, Section 4 of the amendment, titled “New Olubadan Chieftaincy Declaration,” replaced “the most Senior (High) Chief in that Line” with “the most Senior Beaded Crown Oba in that Line.”

But sensing the danger ahead, Ibadan elders rose to the occasion by metting with Ladoja and prevailed on him to take the beaded crown.

Oba Ladoja announcing his readiness to accept the beaded crown at a radio programme in Ibadan in August 2024, said various Ibadan indigenes and non-indigenes had pressured him to accept the beaded crown to facilitate his ascension to the throne when the time come.

His words, “By the grace of God, I will become Olubadan. God has been merciful to me. My blood pressure has been stable. Anyone God destined to become Olubadan will become Olubadan. No matter the obstacles placed in their way. I’m ready to accept Ibadan’s ceremonial beaded crown if it’s the wish of God and the good people of Ibadanland. Only God knows who becomes Olubadan. I know by the special grace of God, I will become Olubadan.”

Thus, the late Oba Olakulehin, on August 12, 2024, in his first official duty after his coronation, crowned Senator Ladoja as an Ibadan Oba.

Oba Ladoja, as a politician, was elected to the Senate of Nigeria in 1993 on the platform of the Social Democratic Party (SDP) during the short-lived third republic. In the present political dispensation, he was elected governor of Oyo State in April 2003 on the Peoples Democratic Party (PDP) platform, having defeated incumbent Governor Lam Adesina and took office on May 29, 2003, with the backing of a PDP power broker in the state and an Ibadan High Chief, Alhaji Lamidi Adedibu.

However, by August 2004, Ladoja and Adedibu were locked in a fierce struggle over the political control of Oyo State and on January 12, 2006, Ladoja was impeached by the state House of Assembly and forced out of office. His deputy, Adebayo Alao-Akala (now late), was sworn in as the new governor. But on November 1, 2006, the Appeal Court in Ibadan declared the impeachment null and illegal, and the Supreme Court upheld the decision on December 11, 2006.

With his reinstatement, Ladoja officially resumed office on December 12, 2006. However, failed to win the PDP nomination for a second term and backed the candidate of the All Nigeria Peoples Party in the 2007 election, Senator Abiola Ajimobi, who eventually lost to Alao-Akala.

After the 2007 election, his attempts to return to the Agodi Government House were unsuccessful as he was the governorship candidate for the Accord Party in the 2011 and 2015 elections. In 2017, Oba Ladoja merged Accord into the PDP and later moved to the new coalition party, the African Democratic Congress (ADC) in 2018 and again left for the Zenith Labour Party (ZLP) in December 2018.

After the Presidential and National Assembly elections in 2019, Ladoja led the coalition that collapsed the structure of Sharafadeen Alli, and Femi Lanlehin, among others, for eventual winner, Governor Seyi Makinde of the PDP.

With Ladoja ascending the throne as the 44th Olubadan of Ibadanland, political observers believe that as a former Governor of the pace setter state and Senator representing Oyo South Senatorial district in the aborted third republic, he has a great influence in the political firmament of the state given his past roles in shaping the political direction of the state.

For the eight days that the historic occasions will be celebrated, there is no doubt that the impact on the ancient city in terms of boosting its economy cannot be over emphasised with virtually most of the hotels in the city fully booked for the large retinues of important dignitaries that will converge on the city.

Similarly, the petty traders are expected to throng the venues of all the events to make brisk business from those that will attend.

A chieftain of the New Nigeria Peoples Party (NNPP) and an Ibadan indigene, Amb. Olufemi Ajadi Oguntoyinbo, while lauding Oba Ladoja as the 44th Olubadan, expressed optimism that under his reign Ibadanland will witness unprecedented peace and development.

The post All Set for Ladoja’s Coronation as 44th Olubadan appeared first on THISDAYLIVE.

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    Governor Siminalayi Fubara yesterday called on the people of Rivers State to embrace unity and reconciliation, stressing that peace, no matter how costly, remains cheaper than war.
    Reflecting on the six months of emergency rule that followed a bitter political crisis in the State, the Governor in a State broadcast in Port Harcourt on resumption of office after his six months suspension, admitted that the period was fraught with difficulties but offered valuable lessons.

    He expressed deep gratitude to President Bola Tinubu for his decisive intervention, which according to him, restored democratic governance and stability, vowing never to take the President’s kindness and sincerity for granted.
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     At about 12:19pm, Fubara, who was accompanied by his deputy, his wife, Valerie Fubara and Chief of Staff, Edison Ehie, touched down at the Airport in a private aircraft. He greeted his supporters and some of the statesmen who were at the Airport to welcome him.
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    “The responsibility now rests squarely on us: The government, the State House of Assembly, political leaders and stakeholders to put aside our differences, work for the common good, and advance the interests of our people above all else. We have a duty to ensure that the peace we have all embraced remains permanent in our dear Rivers State.
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    “Personally, I will never take Mr. President’s kindness for granted, and for that, I hereby reaffirm my utmost loyalty and eternal gratitude,” he added.

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    The post Fubara: Peace Cheaper Than War, Urges Rivers People to Unite appeared first on THISDAYLIVE.

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    *Says six-month emergency rule left state with hard lessons  *Appeals to political leaders, Assembly to bury hatchet*Promises renewed focus on governance, projects, inclusiveness  *Declares he’ll never take Tinubu’s kindness for
    The post Fubara: Peace Cheaper Than War, Urges Rivers People to Unite appeared first on THISDAYLIVE.

    NGX Transactions Surge 99% to N6.92trn in Eight Months

    NGX Transactions Surge 99% to N6.92trn in Eight Months

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    Foreign and domestic investors’ transactions on the Nigerian Exchange Limited (NGX) increased by 99.03 per cent year-on-year (YoY) to N6.92 trillion in the first eight months of 2025, compared to the N3.48 trillion recorded in the comparable period in 2024.

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    “This removed the subsidy on some US Dollar payments as well as the preferential treatment of some interests. Alongside this, the CBN cleared a backlog of dollar claims from previous years, which improved confidence in the market,” the firm explained.
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    Analysts are sharply divided, with some projecting a modest rate cut of 50 basis points, while others argue for a cautious hold to avoid unsettling fragile stability.

    Head of Financial Institutions Ratings at Agusto & Co., Ayokunle Olubunmi, cautioned that the economy remains too fragile to accommodate aggressive easing. He argued for a hold, or at best, a mild 50 basis points cut.

    “Yes, there are signs of relative stability, but that stability is still tentative, and it may be wiser to wait until the next meeting before making any significant move.

    “If you also track the Treasury bills market, you’ll notice rates have been difficult to sustain at lower levels. Each time they were reduced, an upward adjustment had to follow. That tells you cutting rates sends a strong signal of a shift towards an expansionary stance, and I don’t believe the economy is quite ready for that yet, ” he added.

    Analysts at Cordros Securities said they expect the Committee to begin reassessing its hawkish stance, supported by recent improvements in key macroeconomic indicators, including inflation moderation and relative exchange rate stability.

    The firm also pointed to the global monetary policy cycle, noting that the US Federal Reserve’s rate cut and prospects of further easing across advanced economies could create a more favourable backdrop for capital flows into frontier markets like Nigeria.

    “Accordingly, we project a 50 basis points cut in the Monetary Policy Rate (MPR) to 27.00 per cent at next week’s meeting, while maintaining other parameters.

    “Any easing will be carefully calibrated to ensure interest rates remain competitive enough to attract inflows and anchor inflation expectations,” they added.

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    “With price pressures easing, the CBN has room to adopt a more accommodative policy without triggering renewed inflation,” the bank’s research team observed, warning that excessively high interest rates risk constraining investment, consumption, and broader economic momentum.

    “It expects the MPC to retain the Cash Reserve Ratio for deposit money banks at 50 per cent, merchant banks at 16 per cent, alongside the liquidity ratio at 30 per cent, while leaving the asymmetric corridor around the MPR unchanged.”

    The post NGX Transactions Surge 99% to N6.92trn in Eight Months appeared first on THISDAYLIVE.

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    *With inflation declining, MPC faces pivotal choices Nume Ekeghe and Kayode Tokede   Foreign and domestic investors’ transactions on the Nigerian Exchange Limited (NGX) increased by 99.03 per cent year-on-year
    The post NGX Transactions Surge 99% to N6.92trn in Eight Months appeared first on THISDAYLIVE.

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