Ooni of Ife highlights retail, hospitality as drivers of local economic growth
The Ooni of Ife, Adeyeye Enitan Ogunwusi, has outlined his focus on retail and hospitality investments as part of efforts to strengthen local businesses and expand income opportunities.
In an interview with Premium Times, the monarch said his background in private enterprise before ascending the throne in 2015 has shaped his leadership approach and ability to manage socio-economic challenges.
According to him, experience gained from the business sector has been instrumental in his role as a traditional ruler, particularly in handling human resources and navigating complex situations.
Before his coronation, Ogunwusi built a diverse portfolio spanning hospitality, real estate, and infrastructure. He cited projects such as the Inagbe Grand Resort in Lagos, the Ife Grand Resort initiative, and the development of thousands of residential and commercial properties nationwide.
He stressed that sustained investment within Nigeria is essential for economic growth, noting that micro, small, and medium enterprises (MSMEs) remain central to job creation and productivity.
The monarch explained that his continued investments in malls, hospitality, and related sectors are an extension of his longstanding commercial interests. Beyond profitability, he said such ventures create employment opportunities for young Nigerians and help address rising unemployment.
Despite challenges in the business environment, Ogunwusi said he remains motivated, describing obstacles as opportunities to innovate and improve. He added that his ventures are designed to serve as practical examples for younger Nigerians interested in entrepreneurship.
Speaking on Ojaja Mall and Suites, he described the project as an effort to blend cultural identity with modern retail and hospitality infrastructure, while also providing a platform to showcase Nigerian-made products.
He dismissed concerns about potential conflicts between his traditional duties and business activities, stating that both roles are supported by capable teams.
Ogunwusi added that beyond financial returns, his broader aim is to inspire enterprise among Nigerian youths and contribute to sustainable economic development.
