Its present monarch is HRM Oba (Dr) Oluwole Olufaderin Adetimehin, FIIN, FCIB, Jimoko II, a former President of the Chartered Insurance Institute of Nigeria who was crowned on June 10, 2016 [4] Ile-Oluji is an agrarian town.

Cassava, Yam, Maize and Oil Palm are other major crops cultivated by farmers in the town.

The major manufacturing company in the town is Premium Cocoa Products (Ile-Oluji) Limited.

Some of its customers are Promasidor Nigeria, Nestle, Fan Milk, Indcresa Productos Del Cacao in Spain and Theobroma B.V in the Netherlands.

The Asiwaju Bola Tinubu Skills Acquisition Centre, built by the Federal Government of Nigeria is also located in 'Ile-Oluji.