FCMB Group Plc says the annual Ojude Oba Festival has evolved beyond a cultural celebration into one of Africa’s leading platforms for tourism, enterprise, and cultural commerce.
The bank stated that the festival, which attracts thousands of visitors to Ijebu-Ode every year, is increasingly creating economic opportunities across hospitality, transportation, fashion, entertainment, food services, photography, and small businesses.
Originally established as a traditional homage-paying gathering before the Awujale of Ijebuland, Ojude Oba has grown into a globally recognised cultural event attracting tourists, investors, creatives, diaspora communities, and international media attention.
Speaking ahead of the 2026 edition scheduled for May 29, Diran Olojo, FCMB’s Divisional Head of Corporate Affairs, said the festival reflects the growing intersection between culture and commerce in Africa.
“Ojude Oba is no longer simply a cultural festival,” he said. “It has evolved into a major platform for tourism, enterprise and cultural visibility.”
According to FCMB, the festival’s expanding influence is helping businesses across multiple sectors benefit from increased economic activity during the celebration period.
Hotels experience peak bookings, transport operators record higher passenger traffic, while local vendors, caterers, artisans, designers, and photographers also benefit from the influx of visitors.
The bank noted that fashion has become one of the festival’s strongest economic expressions, with designers, textile merchants, jewellers, and stylists using the event to showcase indigenous creativity and luxury African fashion.
The colourful regberegbe age-grade processions, horse-riding displays, elaborate aso-ofi attire, music, cuisine, and royal traditions have also helped position the festival as one of Nigeria’s most photographed and socially visible cultural events.
This year’s edition is themed “Celebrating the Legacy of Oba Sikiru Adetona” in honour of the late Oba Sikiru Kayode Adetona, whose reign significantly elevated the global profile of the festival.
Under his leadership, Ojude Oba expanded from a respected local tradition into an internationally recognised cultural institution attracting global media, luxury brands, fashion houses, and content creators.
FCMB said it has maintained a long-standing relationship with the festival for more than two decades, recognising the role cultural institutions can play in economic development and community advancement.
According to the bank, the growing global interest in Ojude Oba highlights the increasing importance of cultural tourism as African countries seek to diversify their economies and strengthen global cultural influence.
“At a time when nations are competing for global attention and investment, culture has become one of Africa’s most valuable assets,” Olojo said.
The bank also observed that younger Africans are increasingly embracing culture as identity, lifestyle, and aspiration rather than mere tradition.
