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Ooni bemoans wealth control by few people in Nigeria


The Ooni of Ife, Oba Adeyeye Ogunwusi, has said that Nigeria may not develop if larger percentage of its citizenry continues to languish in poverty.

The traditional ruler, who lamented that few Nigerians hold on to and control the wealth and riches of the country and described it as inimical for the continued existence of the country, therefore, urged the Federal Government to raise the standard of living of larger populace by making favourable economic policies so that cash could flow.

The Ooni gave the charge during the yearly celebration of Aje Festival at his Ile Oodua Palace in Ile-Ife.

He decried the current economic condition of the country, saying it was pathetic that the country’s wealth is currently not being circulated.


According to the monarch, “as it stands today, Nigeria has a population of few men and women controlling the economy while countless others are languishing in poverty. We cannot continue like this!

“For us to progress as a country, we must ensure that our wealth goes round, especially to the poor and other vulnerable members of the society. We cannot keep having strikingly rich few Nigerians and uncountable poor ones.”

He said that the Aje festival celebration was a unique way through which the Yoruba people globally remember the deity, which is known for wealth and riches.

“Aje is a deity which is known for wealth and riches. It’s annual celebration as you have witnessed and we acknowledge its relevance to us as people, especially its indispensable nature to us.”

“Did you see the struggle for it during the procession to and from the Aje Temple? That is the spirit of Aje; all of us are not rich because it is not easy to accumulate wealth.

“We are not devaluing the currency by spraying it to our people; we only do it on a special day like this to spread happiness. In the olden days, it was cowries; sometimes ago, it was coins, nowadays, it is naira notes and we hold it in a very high esteem,” the Ooni said.


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