Ojude Oba festival catalyst for economic growth –FCMB

FCMB Group Plc, a major sponsor of the Ojude Oba Festival, has described it as a catalyst for economic growth and a fulcrum for social and cultural cohesion.
Ladi Balogun, Group Chief Executive of FCMB Group Plc, in his goodwill message at the festival held recently noted that noted that the festival attracts visitors from across Nigeria and the diaspora, contributing to the growth of trade and tourism in Ijebuland, Ogun State and Nigeria.
The FCMB Group Chief Executive urged Ijebu people to embrace the festival’s spirit of togetherness and use it as a springboard for further development and inspiration for younger generations.
This year’s Ojude Oba festival witnessed the participation of 90 Regberegbe groups, a significant increase from 76 in 2023. This surge indicates a rise in social cohesion, which is crucial in promoting unity and peaceful coexistence within the community.
On the festival’s economic impact, Adewale Adenugba, Chief Executive Officer, Blooms Hotel in Ijebu-Ode, said, “the festival has significantly boosted business activities across Ijebuland over the years, coinciding with the Muslim Eid-el-Kabr celebration when many Ijebus and their friends return home. During this period, hotels in Ijebu-Ode and surrounding towns experience full occupancy, and relaxation centres also see increased activity. Artisans, traders, and vendors of various items, including festival paraphernalia, food, drinks, and transportation services, enjoy brisk business.
Earlier in his remarks, the Ogun State Governor, Adedapo Abiodun committed to elevating the Ojude Oba Festival to a global stage. He envisions the festival as a permanent fixture on the international tourism calendar and its listing as one of the festivals backed by the United Nations Educational, Scientific, and Cultural Organization (UNESCO).
He affirmed the economic and social development potential that could be harnessed from the festival through tourism.
Central to the festival’s enduring legacy is the Regberegbe system, a tradition of age-grade solidarity and mutual support. Historically rooted in communal labour practices, the Regberegbe has evolved into a symbol of community cooperation, fostering social bonds and collective responsibility. This unique social structure empowers individuals. It has contributed to the overall resilience and development of the Ijebu community for centuries.

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