Efon Alaaye people are predominantly farmers, they grows cash crops like kolanuts, cocoa, palm tree, they are also known to be a major producers of yam, rice, cassava, maize and lots of fruits.
Efon Alaaye are subject to their king the Alaaye of Efon assisted by the six high chiefs of six major districts call "the iwara mefa"
Efon alaaye people are christian and widely accepted christ by the 1930 major revival that caused a revolution that left the Town with several cathedrals. The major denominational groups are Catholics, Anglicans, Christ Apostolic Church, and very recently the pentecostals are gaining grounds, including the Seventh-day Adventist Church which has been established to make its presence felt among this very religious people.
Efon Alaaye dates back to 1200 A.D. In accordance with the historical facts, the founder and the first Alaaye (the title of Efon Alaaye Kings) of Efon Alaaye was Obalufon Alaayemore who was the third king or Ooni (title of Ile Ife kings) of Ile Ife, the cradle of Yoruba race. His father was the founder and father of the Yorubas and is known as Oduduwa or Odua. Obalufon Alaayemore installed his son Adudu Oranku to reign after him when he departed Efon Alaaye to go and ascend the throne in Ile Ife.
There are three ruling houses in Efon Alaaye that normally produce the Oba/King rotation. The ruling houses and the order of rotation are: - Ogbenuote, Obologun and Asemojo respectively. The reigning king on the throne is His Royal Highness Oba (Dr.) Emmanuel Aladejare Agunsoye II; he is the 45th Alaaye of Efon Alaaye. He comes from the Ogbenuote ruling house. And the kingmakers are the six high Chiefs who are heads of six Quarters into which the town is divided. The six kingmakers are:-
High Chief Obanla of Aaye Quarter High Chief Obaloja of Obalu Quarter High Chief Peteko of Isaja Quarter High Chief Oisajigan of Ejigan Quarter High Chief Alaayo of Emo Quarter High Chief Ojubu of Ikagbe Quarter
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