The Lagos State Government and the Iru Kingdom have taken a major step toward aligning culture with commerce with the unveiling of the Oniru Business and Cultural Day and the launch of the Oniru Business Network to drive inclusive economic growth.
The initiatives were announced at a press conference held on Tuesday, December 16, 2025, at the Palace of the Oniru.
Speaking at the event, the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada Ambrose, described the programmes as a strategic intervention designed to create structure, collaboration and sustainability in local economic development.
According to her, the Oniru Business and Cultural Day, scheduled for February 14, 2026, will provide a platform for indigenous and expatriate businesses to showcase their products and services, connect with investors and collaborators, and engage directly with relevant government agencies and development partners.
She noted that the initiative would facilitate solution-driven conversations on access to finance, regulatory compliance, infrastructure development, tourism, local content, digital adoption and youth employment.
Mrs. Ambrose explained that the engagement would not end with the event, as the newly launched Oniru Business Network would ensure continuity through a structured registry of businesses, periodic forums, capacity-building programmes and sustained communication between the private sector and government.
She stressed that such partnerships are critical to achieving the objectives of the T.H.E.M.E.S+ Development Agenda and the Lagos State Development Plan 2052.
She further emphasised that the initiative recognises culture as a powerful convening platform for economic opportunity, noting that traditional institutions such as the Palace of the Oniru provide legitimacy, trust and continuity necessary for effective public-private collaboration.
In his remarks, the Oniru of Iru Kingdom, Oba Omogbolahan Lawal, CON, Abisogun II, said the initiative was conceived to establish a credible and organised interface for stakeholders whose businesses and aspirations intersect with the kingdom.
He explained that while the event celebrates heritage and identity, it is fundamentally a strategic mechanism for structuring engagement between culture, commerce, community and governance.
The monarch added that the Palace would serve as a neutral and trusted host for public-private partnerships, bridging policy aspirations and commercial realities, while the Lagos State Government provides regulatory leadership, technical guidance and policy direction to ensure sustainability.
Oba Lawal commended Governor Babajide Sanwo-Olu for the state’s support and acknowledged the Ministry’s engagement, noting that the collaboration reinforces policy alignment and ensures that investment facilitation within the kingdom remains transparent, structured and consistent with Lagos State’s development priorities.
