Perhaps the pivot on which the stability of Ikorodu rests was the legal recognition given to only two ruling houses-Rademo Royal Family and Lasunwon Royal Family. To date, the two ruling houses have produced eighteen traditional rulers. The first recognised traditional ruler was Lasunwon. At his demise, Rademo took over the reigns of power. There was Lugbekan (from Lasunwon); Dotelu (Lasunwon), Kaalu (Lasunwon); Oguntade 1 (Rademo); Petu (Rademo); Kuyinu (Rademo); Ireshe (Lasunwon); Idowu Alagbo (Rademo); Orelaja (Rademo); Ogunlaru (Lasunwon); Aina Odubote (Rademo); Odunjumo Araba (Lasunwon); Ajayi Owujebe (Lasunwon); Adenaike Alegbe (Lasunwon); Samuel Oladega (Lasunwon). The incumbent, traditionally ruler, His Royal Highness Oba Salawu Oyefusi is from Rademo, and the third Ayangburen.

Late Oba Adenaike Alegbe, the Oloja of Ikorodu was installed Adegorushin on Monday 3rd June 1929 at the age of 75. He was formally crowned the Ayangburen of Ikorodu.

Oba Alagbe is recognised in Ikorodu history as a transition-ruler. Not only for being the last Oloja and the first Oba to be crowned Ayangburen, he was also instrumental in the movement of the palace from Awofin in Ajina to Alyeluja when the community felt it was high time they built a befitting new palace for the traditional ruler of the town. A new world was discovered on the other side of the city wall, the present location of the palace Ayangburen of Ikorodu.

With this development, Oba Alagbe succeeded punishing the frontiers of Ikorodu beyond the ancient city walls, to begin the town’s march into a new era.

The last forty years has witnessed a tremendous growth in Ikorodu. The town is now six times its original size as a circular town. The frontiers of the Local Government now stretches as far the new industrial lay to the north at Odogunyan, to the far reaches of the Ogun River in the east. When fully developed, the industrial Estates at Odogunyan will be the largest industrial estates in black Africa.

The construction of Lagos-Okorodu road which was completed in 1953, and the coming of electricity three years later in 1956 opened a floor gate of business activities that laid the foundation for today’s economic development and inherent gains.

It is interesting to note that commercial activities that brought Ikorodu to the threshold of history and national prominence was spearheaded by sons and daughters of the town-who asatsu traders, had established themselves as first among equals, and relevant in the international business sphere of the time.

These pioneers, come across as visionaries, men and women in the thrall of belief so powerful that they ignore all else to ensure that reality catches up with their dreams of lifting Ikorodu up the ladder. The emerging commercial, enterprising spirit produced such business tycoons as late Chief Joseph M.Shonubi popularly known as Owolowo. He was one of the earliest business magnates in Nigeria and easily one of the richest Nigerians of his time. Apart from running ferry services from Ikorodu to Lagos, Shonubi was recognised by all, from far and near, as the most prosperous trader in the stockfish and tobacco trade.