Lagos State Government and Iru Kingdom have unveiled the organisation of Oniru Business and Cultural Day, and also launched Oniru Business Network toward advancing the economic and socio-cultural development of the Kingdom.
The Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment Mrs Folashade Ambrose, said this in a statement. by Adewale Akodu, the Head of the Public Affairs Unit.
Ambrose said that the announcement was made at an event at the palace of Oniru on Tuesday with the
She described the initiative as a strategic response to the need for structure and partnership in driving local economic development.
She said that the Oniru Business and Cultural Day, holding on Feb. 14, 2026, provides a platform for indigenous and expatriate businesses to showcase their products and services.
“It brings government MDAs, financial institutions, development partners, and the private sector together for dialogue directed towards solutions for real issues.
“The issues include access to finance, compliance frameworks, infrastructure, tourism development, local content, digital adoption, and youth employment,” she said.
According to her, it provides a cultural anchor, reminding us that development thrives best in environments where people feel respected, included, and seen.
She said that the initiative would foster collaborations, adding that engagements, relationships, and commitments formed will find continuity through the Oniru Business Network.
She said that the network would maintain a living registry of businesses, host periodic forums, support capacity-building programmes and facilitate structured communication between businesses and government.
“It offers the kind of institutional memory and strategic follow-through that Lagos seeks to embed in its economic governance,” she said.
She said that her ministry’s mandate required trusted partners across the ecosystem, including traditional institutions like the Palace of the Oniru, development finance organisations, business associations, private sector actors, and the media.
“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.
“It recognises that the Palace stands as a centre of legitimacy, continuity, and trust.
“Culture is not only a heritage to be celebrated, but also a powerful convening platform through which dialogue, partnerships and economic opportunity can be meaningfully pursued.
“I extend profound appreciation to His Royal Majesty for his vision, courage, and sense of responsibility,’she said.
In his address, Oba Omogbolahan Lawal, the Oniru of Iru Kingdom, said that the programmes were established by the need for a credible, organised and trusted interface for conversations among stakeholders.
Lawal said that it was for the stakeholders whose lives, work and aspirations intersect with Iru kingdom, translating same into outcomes while evolving intentions into shared progress.
“The Oniru Business and Cultural Day was never envisioned merely as a ceremonial festival or entertainment gathering.
“While it celebrates our heritage, vibrancy, and identity, its foundation is entirely strategic.
“It is a deliberate intervention designed to organise how culture, commerce, community, and governance interact within Iru Kingdom.
“It provides a structured mechanism through which people can meet with clarity, engage with dignity, and build with purpose.
“The prosperity of any modern kingdom depends, not only on its cultural strength, but also on the quality of structures through which ideas, partnerships, and investments can flourish,” he said.
Lawal said that traditional institutions played important as trusted hosts in attracting Public and Private Partnership engagements for development.
He said that the Palace served as a link between public interest and private enterprise; between policy aspirations and commercial realities; between community expectations and investment ambitions.
He also explained the important role of the Lagos State Government, through the ministry, providing regulatory leadership, technical guidance, and policy direction, forming a partnership model that is coherent and sustainable.
The monarch acknowledged Governor Babajide Sanwo-Olu’s policy alignment needed to ensure that investment facilitation within the kingdom is structured, transparent, and attuned to Lagos state’s development priorities.
