The Olugbo of Ugbo Kingdom, Oba Fredrick Akinruntan, says his community remains the only Yoruba town blessed with huge deposits of crude oil.
The monarch spoke to the News Agency of Nigeria (NAN) on Saturday in Ugbo on the sidelines of his investiture as Life Patron of the Oyo Correspondents Chapel of the Nigeria Union of Journalists.
Akinruntan, who described Ugbo descendants as the aborigines of Ife, said they left for their present domain because of the desire for economic prosperity.
He said Ugbo kingdom remains one of the most important towns in Yoruba land, adding that there were more than 40 academic authorities to back this claim.
Akinruntan also said that the contribution of journalism to the development of the nation could not be over emphasised, urging media organisations to always ensure adequate welfare package for journalists.
He also said that the controversy surrounding the reported death of the Ooni of Ife could have been better managed, adding that neither the media nor the traditional institution should be blamed.
The monarch, however, called on the Yoruba to sustain and promote their culture in order to prevent it from extinction. (NAN)