The Nigeria Employers’ Consultative Association, NECA, on Friday, 24th October, held the 42nd edition of the Omolayole Management Lecture at NECA House, Ikeja, Lagos, in honour of elder statesman and management icon, Dr. Michael Omolayole, popularly called “Baba”.
The event, themed “One Trillion Dollar Economy”, brought together captains of industry, management gurus and members of the organised private sector for what many described as a festival of ideas. It opened with a spoken word piece titled “Baba” by Phoebe Adefunke Orimogunje in honour of the celebrant.
Delivering the keynote lecture, the President of the Chartered Institute of Directors Nigeria, CIoD Nigeria, Otunba Adetunji Adetokunbo Oyebanji,F.CIoD, MD/CEO of 11 Plc, formerly Mobil Oil Nigeria Plc, began with a quote from American poet James Russell Lowell. He displayed two videos on screen, one showing how achievable and the other showing how unachievable a one trillion dollar economy is for Nigeria, bringing him to his central point which is the need to distinguish between aspiration and analysis. With a slide showing Nigeria’s Real GDP Growth, Oyebanji said government resources alone will not be enough for Nigeria to govern its way to a one trillion dollar economy. He identified oil, gas and energy transition, agriculture and agro-processing, manufacturing and industrial development among sectors that can drive the goal, stressing that Nigeria must move from exporting raw products to pursuing multiple engines of growth anchored on ten interconnected governance frameworks.
He concluded with a call for national mobilisation to build globally competitive businesses, rounding off with “Shoot for the moon, if you don’t meet your target, you’ll fall among the stars.”
The profile of Dr. Omolayole, a management expert, President of the Nigerian Institute of Management, former President of NECA and Chairman/CEO of Omolayole and Associates and a Rotarian of 53 years, was then read before he took the floor. Describing the event as a festival of ideas, he listed countries that have hit the one trillion dollar mark and declared that “We have to work hard, sweat and save. Any country that can’t save can’t expand. We spend too much.”
He endorsed the position of Aliko Dangote and encouraged compatriots to be part of the IPO, acknowledged the presence of St. Gregory’s College Old Boys Association and University of Ibadan Alumni Association who decorated him with their mufflers, led the audience in his composed Unity Song which attracted loud applause, cracked two jokes and promised to be present in subsequent years if alive, concluding with “I rest my case.”
Co-host Mr. Emmanuel welcomed Dr. Akimolaya who urged guests to read the full lecture in the brochure and said achieving a one trillion dollar economy is feasible, charging young people that “This is our home, we have to do the work to achieve the one trillion dollar economy.”
Chairman of Algorithm Media Ltd and former CEO of Guinness Nigeria Plc, Otunba Seni Adetu, who was called on stage to present SALTVIM, recognised Dr. Omolayole and gave a brief of the foundation’s work before the citation of Mr. Oghale Elueni, MD/CEO of PZ Cussons Nigeria, who received this year’s SALTVIM Award from Dr. Omolayole himself. In his acceptance speech, he thanked the Board of Trustees, Dr. Omolayole, Otunba Seni and his family, encouraging everyone to follow their dreams and noting that the award will make him keep raising the bar.
Other SALTVIM awardees include Mr. Shola Oyetayo, Mr. Muyiwa Olayeni, Mr. Tayo Bright, Alh. Idris Yakubu, Mrs. Brenda Nwagwu and Mrs. Olubunmi Adejirin, while special recognition awards also went to Otunba Oyebanji, Engr. Bayo Ige, Mrs. Funke Adesoji, Mr. Emmanuel Essien and Mrs. Olubunmi Adejirin who all took photographs with Dr. Omolayole.
The highlight of the evening was the symbolic flag handover from NECA to the Nigerian Institute of Management, with Mr. Omotayo Badru receiving the flag on behalf of the Registrar of NIM, signifying that the relay race continues as NIM will organise the lecture in September next year.
The event came to a close with a vote of thanks by the MD of IESL and President of this year’s Organising Committee,who called his committee members on stage for recognition.
