Conferment of Doctorem Honoris Causa Of Business On Otunba (Dr) Femi Pedro – A Testament Of His Impact In Business And National Development

By Bamidele Atiba

Lionel Woodville, who later became the Bishop of Salisbury was the earliest holder of the honorific title, bestowed on him by Oxford University in 1470 according to verifiable availability record. 

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Doctor Honoris Causa is a doctoral-level honorary degree bestowed upon individuals for their significant contributions to a field or society. Six centuries after the first award, its value has not depreciated.

Therefore, the honorary Doctorate Degree of Business conferred on His Excellency Otunba Olufemi Pedro is a well deserved recognition of his business prowess, contribution to Lagos State economic development and strategic leadership in the business world. Beyond making positive impacts in the business of running business, his business acumen also translated into improved economic governance of Lagos State when he was the Deputy Governor between 2003-2007.

Dr Pedro, was the Chairman of the Lagos State Revenue Mobilization Committee during the Bola Ahmed led Lagos State Government that revolutionised the economy of the State to become one of the largest economy in Africa as it is today. “Mr Pedronomics” as he was fondly called then brought his vast banking experience to play to catapult the internally generated revenue of Lagos from paltry three hundred million naira to a whooping seven billion naira with the space of eighteen months. 

In addition, during his tenure, he rejigged the Lagos State Waste Management Model to involve private sector participation and was part of the tink tank that birth the lagos State signature public transport system, the Bus Rapid Transit (BRT).

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Otunba Olufemi Pedro is an astute banker, a boardroom guru, a development expert, a business meteorite and an impact-driven reputable politician. He started his professional career the Central Bank of Nigeria where he rose to become an Assistant Manager before he retired. He later worked with the doyen of the Nigerian banking industry, Late Chief Subomi Balogun at First City Monument Bank as the Executive Assistant and subsequently as Deputy Manager and Head of Corporate Planning. He was a co-owner and the Chief Executive Officer of the defunct First Atlantic Bank that metamorphosed to become FinBank.

Also, he co-founded Guarantee Trust Bank as one of the major investors with the likes of Fola Adeola, Gbolahan Osibodu and Tayo Aderinokun and played very strategic role in planting the bank braches across many villages, towns and cities in Nigeria like the proverbial seed sower in the bible before he voluntarily left the bank.

The honorific award is befitting and deserving going by Dr Pedro’s past contribution to Nigerian economy and business arena. Besides , it is an impetus for him not to rest on his oars in his quest for economic emancipation of Nigeria. We join family and friends, business and political allies and especially the All Peoples Congree Professional Forum (APCPF) of which “Mr Pedronomics” is one of its founding member and Board of Trustees member to congratulate him on his honorary Doctorate degree of business award by the Lagos State University.

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Hearty cheers to H.E Otunba (Dr) Olufemi Olufemi Pedro [FCIB, FCIArb] many more feathers to your cap.

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