- Oba Akinrutan is founder of Obat Oil, one of Nigeria’s largest and leading privately held oil companies
- The Ilaje monarch is the richest King in Nigeria
- As at March 2014 Forbes estimated his net worth as US$300 million
During his 14th coronation anniversary thanksgiving at the Ugbo Community in Ilaje Local Council area, Obateru Frederick Akinruntan, the monarch of Ugbo Kingdom in Ondo State, emphasized the significance of assigning constitutional roles to traditional rulers in Nigeria.
The first-class monarch asserted that such a move would bring governance closer to the people, fostering a crucial synergy between the government and community leaders for the nation’s economic growth.
Emphasizing the indispensable relationship between the traditional institution and the government, the Olugbo expressed the belief that implementing the call to integrate traditional rulers into the constitution would facilitate the proximity of good governance to grassroots communities. He underlined the vital role such collaboration would play in ensuring the survival and prosperity of communities across the country.
Reflecting on his 14 years on the throne, Oba Akinruntan acknowledged the inherent challenges of his position but highlighted his ability to navigate and overcome them. He expressed gratitude to his ancestors for standing with him, emphasizing the importance of resilience in the face of life’s challenges and prospects.
Adding a familial perspective to the occasion, Mr. Abayomi Akinruntan, the Deputy Speaker of the Ondo State House of Assembly and son of the monarch also expressed gratitude
IMAGE: The Chancelor