The Lagos State Government and the Iru Kingdom have unveiled plans for the Oniru Business and Cultural Day and launched the Oniru Business Network to boost economic and socio-cultural development within the kingdom.
The announcement was made at a press conference held on Monday at the Palace of the Oniru, where stakeholders gathered to outline the objectives and expected impact of the initiative.
Speaking at the event, the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada Ambrose, described the initiative as a strategic response to the need for structure and collaboration in driving local economic development.
She said, “Oniru Business and Cultural Day, scheduled to hold on 14th February, 2026, provides a platform where indigenous and expatriate businesses can showcase their products and services, tell their stories, and connect with clients, investors, and collaborators.”
According to her, the event will bring together government MDAs, financial institutions, development partners and private sector players for discussions focused on business challenges.
“It brings government MDAs, financial institutions, development partners, and the private sector together for dialogue that is not abstract but directed toward solutions for real issues such as access to finance, compliance frameworks, infrastructure, tourism development, local content, digital adoption, and youth employment,” she said.
Mrs. Ambrose added that the initiative also has a strong cultural focus, noting that development works best where people feel respected and included. “It provides a cultural anchor, reminding us that development thrives best in environments where people feel respected, included, and seen,” she added.
She further explained that the initiative would not end with a one-day event, as the Oniru Business Network would ensure continuity. “Crucially, this initiative also functions as a pipeline builder,” she said, explaining that the network would maintain a registry of businesses, host forums, support capacity-building programmes and strengthen communication between businesses and government.
The commissioner noted that the goals of her ministry under the T.H.E.M.E.S Plus Development Agenda and the Lagos State Development Plan 2052 require collaboration with trusted partners.
She listed traditional institutions such as the Palace of the Oniru, development finance organisations, business associations, private sector actors and the media as partners needed to achieve economic growth.
“The Oniru Business and Cultural Day is not merely an event; it is a thoughtful, intentional intervention in how we organise the relationship between culture and commerce in Lagos,” Mrs. Ambrose said.
She described the palace as a centre of legitimacy and trust, adding that culture should be seen as heritage and a platform for dialogue.
In his remarks, His Royal Majesty, Oba Omogbolahan Lawal, CON, Abisogun II, Oniru of Iru Kingdom, said the initiatives were designed to create a credible and trusted interface for conversations among stakeholders connected to the kingdom.
He explained that the aim was to translate discussions into outcomes while turning shared intentions into collective progress.
The monarch also acknowledged the Lagos State Government under Governor Babajide Sanwo-Olu and the Ministry’s involvement, noting that their engagement reinforces policy alignment and supports structured investment facilitation in line with the state’s development priorities.
