The Egba Economic Summit Group has called on the Ogun State Government and other critical stakeholders to urgently intervene and resuscitate the abandoned Abeokuta City Centre project at Oke Ilewo, warning that its continued neglect poses serious economic and security risks to the state capital.
The group, in a statement signed by its President, Dr Gbenga Adeoye, described Oke Ilewo as the historic commercial nerve centre of Abeokuta, noting that the area once rivalled Sapon in elite commercial activities and remains one of the closest business districts to Ibara Government Reserved Area in terms of value and standard.
According to the group, Oke Ilewo historically served as the hub for major banks in the state capital and previously housed the Ogun State Secretariat, including the governor’s office.
It said the former seat of government should by now have been transformed into a tourist destination where future generations could connect with the history of the state’s creation.
The summit noted that several strategic institutions are still located around the city centre, including the Ogun State Property and Investment Corporation, the Central Bank of Nigeria, the Simeon Adebo Library, the Nigerian Police Mobile Force Zone 2 headquarters, as well as major financial institutions such as Gateway Mortgage Bank.
It added that First Avenue Road in Ibara GRA, now renamed Aderupoko, runs directly from the OPIC axis through key financial institutions into the city centre.
It recalled that the Abeokuta City Centre was designed to host regional offices of major banks, adding that Guaranty Trust Bank had fulfilled its commitment by erecting what it described as one of the most imposing structures in the state capital.
The design, the group said, also provided for shopping malls and an amphitheatre, which remain uncompleted.
The summit further pointed out that the area overlooks the residence of a former Interim Head of State, Chief Ernest Shonekan, describing it as another potential tourist asset that underscores the strategic importance of the location.
However, the group lamented that the project has been left in a dilapidated and filthy state, a situation it said does not befit an area hosting regional bank offices, the CBN and OPIC.
It warned that if urgent action is not taken, the abandoned structures could become hideouts for criminals, thereby threatening security in the state capital.
Members of the summit said a visit to the site on Monday, January 5, 2026, revealed that the project was rapidly deteriorating despite the huge public and private funds already committed to it.
While acknowledging disputes surrounding the original purpose for which the land was allocated and concerns of original landowners in the event of a change of use, the group stressed that the broader public interest of economic development and security should prevail through dialogue and arbitration.
“The development of the Abeokuta City Centre has the capacity to uplift the economy of Ogun State and the state capital. This public interest should override personal interests if proper dialogue is adopted,” the statement said.
The summit urged the state government and all stakeholders to withdraw any court cases linked to the project and resolve all issues out of court in the overall interest of Ogun State’s economy and security.
It offered to play an active role in mediating the dispute, in collaboration with traditional rulers across Ogun Central Senatorial District.
Calling for a renewed investment drive, the group appealed to well-meaning indigenes and investors to commit resources to Ogun State’s development in 2026, saying no valuable asset in the state capital should be allowed to waste away.
“The location of the city centre is too unique and special to be abandoned after spending hundreds of millions, or even billions, of naira,” the statement added, while wishing Ogun residents a prosperous New Year.
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