S/West States Need Good Planning Not True Federalism To Get Out Of Recession – Prof Omole


By; BAYO AKAMO, Ibadan.
Former Vice Chancellor of Obafemi Awolowo University, Ile Ife, Professor Wale Omole on Thursday said South west states need properly thought and well planned integrated package to get  out of the present recession.
Professor stated this while delivering a lecture titled “Reinvigorating Odu’a Group into a Global Conglomerate” at the 40th Anniversary commemorative lecture/ awards presentation to the three founding military governors of the Conglomerate held at the Banquet Hall of Premier Hotel.
The former Vice Chancellor declared that presently in the South west ,what was required is good planning, saying, “all that we require is good planning .The more success we achieve,the more the skeptics about true federalism will be convinced of the value of our endowments to individually become agents of hope,agents of hard work, so that we complain less and less”.
Professor Omole pointed out that Odua investment should be prepared for the challenges ahead and be ready to  prepare its own roadmap to take charge of the strategy roadmaps of the development agenda of the Western Nigeria with a well planned integrated package.
“As we are today, with recession around us, with inadequate fund, salaries poorly paid and at times unpaid, with inflation surging higher and the purchasing power of individuals diminishing, a properly thought and well planned integrated package will take us off recession than we can hardly envisage. The waste in our systems will be curtailed,we will joyfully put more hours of work into our lives without getting tired in health and strength” he said.
The former Vice Chancellor declared that in as much the South west states wished for True federalism to implement its Development Agenda for
Western Nigeria (DAWN), nothing stops the Sw states “from planning and engaging in pilot runs ahead of restructuring”.
Professor Omole noted
that “it is most likely that Odua will be the national conglomerate to beat,if appropriate oversight strategies for the subsidiaries and the associate companies had been put in place”.
According to Professor Omole,“there is no proper governance relationship for effective oversight function of the subsidiaries by Odua” adding“the organizational structure is weak,with overlapping roles between departments and units.
“There is the need to formulate new strategies to utilize the assets and engage in proper oversight function of the subsidiaries of the conglomerate. Odu’a must create a portfolio of intangible assets for itself and leverage such assets for sustainable value creation in its subsidiaries since it cannot directly create value in tangible assets by managing tangible physical and financial assets”.
He then called for the full engagement of youths by the Odua investment for the task ahead, saying, “our bright and young ones will be ready,only if Odua is in a state of readiness”.
“Our bright and young ones will be ready,only if Odua is in a state of readiness. Be ready to engage our youths and reasonably compensate and appreciate them”.


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