Anxiety has gripped the Ugbo Kingdom in Ilaje Local Government Area of Ondo State following widespread speculation about the demise of the influential oil magnate and traditional ruler, Oba Frederick Enitiolorunda Akinruntan, Okoro Ajija I, the Olugbo of Ugbo Kingdom.
Sahara Reporters, through its official X (formerly Twitter) handle, reported that concerns are growing among the people of Ugbo over the health and possible passing of the revered monarch, who is also the founder of Obat Oil, one of Nigeria’s largest indigenous oil companies.
Sources close to the palace revealed that the 75-year-old monarch has been battling an undisclosed illness for some time. According to an insider, Oba Akinruntan was flown out of Nigeria late last year for medical treatment, and since then, little has been heard about his condition.
“We heard that he was taken abroad for treatment sometime last year. But because of his status as a king, they might be keeping the news of his death a secret,” a source disclosed.
Another informant noted that whispers of the monarch’s passing have been circulating among the people of Ugbo, though no official confirmation has been made.
“Since November or December, there has been total silence about his whereabouts. Some people say he is no more, but the palace is keeping it from the public. We also heard that certain traditional rites have been performed in the kingdom, but discreetly. They only tell people he is still abroad,” the source added.
Born in 1950 into the royal lineage of Sir Frederick Adetolugbo in Ugbo, Obateru Akinruntan rose to prominence as both a businessman and a traditional ruler. In 2009, he was appointed king in accordance with Ugbo Kingdom traditions, a role that further cemented his influence in the region.
Beyond his traditional title, Oba Akinruntan is widely recognized in Nigeria’s business landscape. As the founder of Obat Oil, his entrepreneurial acumen positioned him as a dominant force in the oil industry.
In 2014, Forbes estimated his net worth at $300 million, ranking him as the second richest king in Africa and the wealthiest monarch in Nigeria at the time. Only King Mohammed VI of Morocco was ranked ahead of him.
His leadership extended beyond his kingdom when, on September 13, 2019, then-Governor Oluwarotimi Akeredolu, SAN, appointed him as Chairman of the Ondo State Council of Obas for a two-year term.
As uncertainty looms over the fate of the Olugbo of Ugbo, residents and stakeholders eagerly await an official statement from the palace or the Ondo State government. For now, the kingdom remains on edge, with its people caught between hope and distress over the fate of one of Nigeria’s most formidable monarchs.
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