By Adesina Wahab

A real estate development advocate and Founder of Prime Property, Ilesanmi Ade-Ademola, has commended the Ooni of Ile Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, for his efforts at reshaping and driving the growth of the sector.

He added that through the efforts of the prominent monarch, Nigeria’s real estate sector is gradually witnessing a transformation from conventional land ownership practices into a broader ecosystem driven by urban development, infrastructure expansion, tourism integration, and economic empowerment.

“At the center of this evolving narrative is the Ooni of Ife, whose growing involvement in development-oriented investments is redefining the role of traditional institutions in economic growth and private sector participation.”

According to Ade-Ademola, the evolving role of traditional institutions in investment promotion and economic expansion is gradually reshaping how real estate development is perceived across Nigeria.

“Over the years, the Ooni of Ife has continued to position himself beyond the traditional responsibilities of cultural preservation by actively promoting investment conversations, development partnerships, youth empowerment, and economic initiatives capable of stimulating long-term growth.

“Industry observers note that one of the most visible areas of this transformation is in real estate and infrastructure development, where structured investment approaches are beginning to replace the old model of ordinary land transactions.

“For decades, traditional institutions in Nigeria were largely viewed as ceremonial structures with limited economic influence. However, a new generation of monarchs is increasingly changing that perception by participating actively in investment promotion, development partnerships, and economic expansion within their domains.

“The Ooni of Ife is widely regarded as one of the leading figures within this emerging movement, particularly through initiatives linked to strategic land use, estate development partnerships, agro-investment projects, tourism promotion, and youth-focused economic opportunities.

“Analysts believe that this shift is helping to reposition traditional institutions as relevant stakeholders within Nigeria’s broader economic development framework.

“Unlike the conventional approach where land transactions are often limited to buying and selling plots, the new model being encouraged focuses on structured developments capable of creating long-term economic ecosystems and sustainable value.

“Projects associated with the Ooni’s development vision increasingly reflect integrated estate planning, investment-driven land use, agro-industrial concepts, smart infrastructure positioning, and community-based economic expansion.

“Experts say such projects contribute not only to urban development but also to employment generation, commercial activities, and increased investment opportunities within host communities. Large-scale estate and agro-development projects are also recognized for their capacity to stimulate private sector job creation across multiple sectors of the economy.

“From construction to facility management, logistics, technology, and agriculture, these developments create employment opportunities for engineers, architects, surveyors, artisans, ICT professionals, marketers, agricultural workers, security personnel, and service providers.

“Beyond direct employment, industry experts note that such developments often stimulate secondary businesses and attract further investments into developing areas.

“Economic analysts maintain that private sector participation remains critical to Nigeria’s long-term economic sustainability, particularly at a time when unemployment and youth economic inclusion continue to dominate national conversations.

“Another emerging concept gaining attention within the sector is agro-real estate development, a model that combines residential development, agriculture, tourism, and investment infrastructure within a single ecosystem. The model aligns with global investment trends where land is increasingly viewed not only as residential property but also as a productive economic asset capable of generating long-term value.

“According to stakeholders, agro-estate developments have the potential to improve food security, attract diaspora investments, create sustainable employment opportunities, increase land value, and expand local economies.

“With urban expansion accelerating across Nigeria and investment interest from both local and diaspora investors growing steadily, experts believe visionary leadership and structured public-private collaboration will play a defining role in shaping the future of the real estate sector.

“Observers argue that traditional institutions willing to embrace innovation, strategic partnerships, and modern development frameworks may continue to influence the direction of economic growth and investment expansion within their regions.

“The increasing intersection between culture, investment, tourism, infrastructure, and real estate development is now being viewed as one of the emerging drivers of sustainable growth within Nigeria’s evolving economy.

“For many stakeholders, the developmental approach associated with the Ooni of Ife reflects a broader shift towards collaborative nation-building where traditional leadership structures complement private sector efforts in promoting economic advancement and community development,” he stated.