Chief Onikepo Akande, former Minister of Industry and Chairman of the Olubadan Economic and Investment Committee (OEIC), has highlighted the importance of security in driving industrial and economic growth in Ibadan.
Akande made the remarks during the inauguration of the Ibadan Security Guard on Tuesday at the Olubadan Palace, Oke Aremo. The new security outfit is designed to complement the efforts of the police and other security agencies in the city.
She emphasized that the committee’s investment initiatives would be ineffective without adequate safety measures, noting that the security guard was established to ensure a safe environment for economic activities.
“The Ibadan Guards Security Coordination Initiative reflects our understanding that development must rest on safety. Security is the foundation of development. Without peace and safety, commerce cannot thrive and families cannot flourish,” Akande said.
The former minister praised Oba Ladoja’s vision in setting up the OEIC, stressing that it would stimulate the local economy, attract investment, and create jobs for youths in Ibadan.
Since its inauguration on October 23, 2025, the OEIC has met five times, developing strategic frameworks to mobilize at least N25 billion through investment summits, attract local and foreign investors, and revive key moribund industries.
The committee is also exploring the development of mineral resources, establishing the Olubadan International Jewelry Trade Centre with Oodua Investment Company, promoting structured agribusiness models, and strengthening urban renewal and historic preservation efforts.
Akande explained that the Ibadan Investment and Economic Development House, launched alongside the security initiative, will serve as the operational headquarters for executing these plans and demonstrate the committee’s commitment to sustained economic transformation.
The security guard initiative aims to support community safety without replacing government efforts, providing a structured platform for collective vigilance in neighborhoods, compounds, and communities.
Highlighting social responsibility, Akande noted the distribution of 5,000 bags of garri as part of the project, stressing that food security must accompany economic development to ensure communities can benefit from progress.
