Ilobu was founded by Laarosin, a native of Oyo, a great hunter and undoubtedly, a fearless warrior with a lot of expedition to his credit. On one of such occasions, he went as far as Iregba where he stayed for some time.
Guided by his oracle, Laarosin finally settled on a virgin land later known as llobu. He engaged in farming and hunting. His activities soon attracted people from far and near. Discovered at the site was kind of substitute salt called ‘OBU-O-TOYO’. It was a mineral people needed. Traders and travellers started referring to the settlement as ILU-OBU-O- OTOYO. It was from the mineral that llobu derived its name.
The accommodating nature of Laarosin (and his descendants) enhanced the growth of the town. His fame as a greater hunter, warrior and diviner soon spread far and near hence more people came to settle with him. The town equally served as a place where traders and travellers can rest.
Ilobu was in the ‘IBOLO’ Province of Yoruba proper. Ilobu was one of the four provinces of Yoruba proper. Others were Ekun Otun, Ekun Osi and Epo. These provinces were created by Oyo lle, which was founded by the Famous Oranmiyan, the son of Odudua. The founding father of llobu, Laarosin, was from the ancient City (Oyo Ile). The important towns in the Ibolo province (as mentioned by the famous historian, Rev. Samuel Johnson) were Iresa, llobu, Ofa, Oyan, Okuku, Ikirun, Ido and Ejigbo. The ruling houses in llobu are the following:
* Olujide ruling house.
* Aworinde ruling house.
* Olusilo ruling house.
* Oniyitan ruling house.
The title is taken strictly in rotation.