FCMB highlights Ojude Oba’s rising economic significance

FCMB Group Plc has said the Ojude Oba Festival is no longer just a cultural celebration but a growing economic driver that is increasingly shaping tourism, enterprise development, and creative industry opportunities in Nigeria.

It stated that as global attention turns to Ijebu-Ode, the century-old festival reflects a new generation’s embrace of heritage, identity, and cultural confidence, stressing that every year in Ijebu-Ode, history arrives on horseback.

“It comes draped in aso-ofi and embroidered fabrics. It moves to the rhythm of drums, prayers, and praise chants. It gathers in age-grade regberegbe processions and the proud pageantry of warrior families whose histories span generations.

“What began over a century ago as a gathering of Muslim converts paying homage to the Awujale — Paramount Ruler of Ijebuland — has evolved into one of Africa’s most recognised cultural spectacles, a living expression of memory, identity, enterprise, and belonging,” the bank stated in a statement.

It noted that for FCMB Group Plc, Ojude Oba represents something even deeper: the reawakening of cultural confidence across Africa. Speaking ahead of the 2026 Ojude Oba Festival, FCMB said the growing global fascination with the festival reflects a broader shift among Africans at home and in the diaspora who are reconnecting with indigenous identity, heritage, and community in ways that feel modern, aspirational, and globally relevant.

“Ojude Oba is no longer simply a cultural festival,” said FCMB’s Divisional Head of Corporate Affairs, Diran Olojo. “It has become a powerful expression of how African culture continues to evolve without losing its roots. What we are witnessing is the meeting point of heritage and modern identity, where tradition is not preserved as nostalgia, but lived confidently and projected to the world.”

This year’s festival, themed “Celebrating the Legacy of Oba Sikiru Adetona,” will be held on May 29 in Ijebu-Ode, Ogun State. The event honours the late Awujale of Ijebuland, Oba Sikiru Kayode Adetona, whose reign transformed Ojude Oba from a respected local celebration into a globally recognised cultural institution that now attracts visitors, creatives, entrepreneurs, investors, and media attention from around the world.

The bank stated that for more than two decades, it has maintained a steady relationship with the festival, long before social media amplified its visual splendour globally. According to the Group, that commitment has always been rooted in recognising that enduring cultural institutions play an important role in strengthening social cohesion, preserving collective memory, and supporting economic activity.

Across hotels, fashion houses, catering, transportation, photography, entertainment, trade, and tourism, the festival now supports a wide ecosystem of livelihoods and enterprise extending beyond Ogun State.

“At a time when nations are searching for authentic expressions of identity and influence, culture has become one of Africa’s strongest assets,” Olojo said. “Festivals like Ojude Oba demonstrate that heritage and enterprise are not separate conversations. Culture creates emotional connection, but it also creates opportunity, visibility, confidence, and economic value for communities.”

FCMB noted that the renewed attention around Ojude Oba also reflects a generational shift in how younger Africans engage with tradition — not as an obligation, but as identity, style, and self-expression.

Among the cultural figures associated with this renewed energy is Farooq Oreagba, whose now-iconic appearances at the festival have come to symbolise Ojude Oba’s expanding global visibility and contemporary appeal. FCMB said collaborations with cultural personalities are guided by shared values around authenticity, responsible influence, creativity, and pride in African identity.

The Group also paid tribute to the late Awujale for preserving the dignity and continuity of the institution over decades of social change, while commending the Regent Awujale and Ogbeni Oja of Ijebuland, Olorogun (Dr) Sonny Kuku, for sustaining the kingdom’s cultural vision and unity during this important transition period.

FCMB further acknowledged the contributions of the Ogun State Government, the Ojude Oba Festival Organising Committee, community leaders, the regberegbe groups, and the wider Ijebu community for sustaining one of Nigeria’s most enduring cultural landmarks.

The Chairman of the Ojude Oba Festival Organising Committee, Chief Olu Okuboyejo, described the festival as a symbol of continuity, peaceful coexistence, and collective pride.

“Ojude Oba remains one of the greatest cultural assets of the Ijebu people and an important contribution to Nigeria’s cultural diplomacy,” he said. “This year, almost ninety age groups and twenty-five warrior families will participate in the celebrations.”

“Today, as cameras from across the world turn toward Ijebu-Ode once again, Ojude Oba continues to tell a larger story — that African culture is not fading into memory. It is adapting, expanding, and finding new relevance across generations and borders.