Adeola Odutola
Encyclopedia
Timothy Adeola Odutola (1902), OBE, CFR
, CON
, was a prominent Nigerian businessman from Ijebu-Ode, Ogun State
. He was one of the pioneers of modern Nigerian indigenous entrepreneurship and the first president of the Manufacturers Association of Nigeria. He attended Ijebu Ode Grammar School, under the principal, Rev Oladotun Ransome Kuti.
to fend for himself. He became a clerk in various departments of the Lagos Colony
and later, in the Ijebu Native Administration. He occupied his spare time by engaging in private trading from 1921-1932.
and entered private enterprise. He soon opened damask
stores and fish stalls at various cities in western Nigeria, such as Ife, Ibadan
, Ilesha and Lagos. After, his subtle beginnings as a fishing net and damask trader, he entered the Cocoa and Palm
trading business and started buying lorries to transport the produce to Lagos for export. He built two large commodity storage stores during this period, one was located at Ijebu Ode, he was also involved in the business and political community as a member of the Produce Buyers Union and the Nigerian Youth Movement
. However, the establishment of marketing board
s, and the subsequent power of the boards to regulate Cocoa and Palm oil trading proved to be an inhibiting factor to private entrepreneurship in the commodity produce business. Odutola, gradually, transferred his resources and energy to saw milling and gold mining at Ilesha. He also became a major agent for John Holt Nigeria. At the beginning of the drive towards industrialisation in Nigeria,Odutola extended his industrial prowess to the production of rubber goods and started the manufacturing of cycle tyres and tubes in 1967.
Throughout his career, he established various factories in the country, spanning, the transport and food industry, he also built a secondary school at Ijebu-Ode. He was a member and later president of the Nigerian Stock Exchange and the Manufacturers Association of Nigeria in the early 70s.
CFR
CFR can refer to:* Code of Federal Regulations of the United States* Council on Foreign Relations, U.S. foreign policy think tank* Campaign finance reform in the United States* Cost and Freight, word used in international commerce...
, CON
Con
Con may refer to:*Con is a Latin preposition abbreviated from Contra meaning "against". It is the opposite of Pro another Latin preposition meaning "for",*Confidence trick, also known as con, scam, or flim flam...
, was a prominent Nigerian businessman from Ijebu-Ode, Ogun State
Ogun State
Ogun State is a state in South-western Nigeria. It borders Lagos State to the South, Oyo and Osun states to the North, Ondo State to the east and the republic of Benin to the west. Abeokuta is the capital and largest city in the state...
. He was one of the pioneers of modern Nigerian indigenous entrepreneurship and the first president of the Manufacturers Association of Nigeria. He attended Ijebu Ode Grammar School, under the principal, Rev Oladotun Ransome Kuti.
Early life
Adeola Odutola was born in Ijebu-Ode, a community, which earlier had a fructifying gateway to the port of Lagos. However, the coming of colonialists had clipped the sovereignty of the Ijebu's and their right over the Lagos transit. It was during the latter period that he was born to the family of an Ijebu produce trader. He attended St Saviour's School, Italupe but he left at the age of fifteen after the death of his father. He was transferred to Ile-Ife by his family to ease his mother's burden but he later returned to Ijebu Ode to re-unite with his family and try to complete his secondary education. He then registered and attended the Ijebu Ode Grammar school for four years. After cutting short his secondary education, he left for LagosLagos
Lagos is a port and the most populous conurbation in Nigeria. With a population of 7,937,932, it is currently the third most populous city in Africa after Cairo and Kinshasa, and currently estimated to be the second fastest growing city in Africa...
to fend for himself. He became a clerk in various departments of the Lagos Colony
Lagos Colony
Lagos Colony was a British colonial possession centered on the port of Lagos in what is now southern Nigeria. Lagos was annexed on 6 August 1861 and declared a colony on 5 March 1862....
and later, in the Ijebu Native Administration. He occupied his spare time by engaging in private trading from 1921-1932.
Business career
In 1932, he resigned his position as a court clerkCourt clerk
A court clerk is an officer of the court whose responsibilities include maintaining the records of a court. Another duty is to administer oaths to witnesses, jurors, and grand jurors...
and entered private enterprise. He soon opened damask
Damask
Damask is a reversible figured fabric of silk, wool, linen, cotton, or synthetic fibers, with a pattern formed by weaving. Damasks are woven with one warp yarn and one weft yarn, usually with the pattern in warp-faced satin weave and the ground in weft-faced or sateen weave...
stores and fish stalls at various cities in western Nigeria, such as Ife, Ibadan
Ibadan
Ibadan is the capital city of Oyo State and the third largest metropolitan area in Nigeria, after Lagos and Kano, with a population of 1,338,659 according to the 2006 census. Ibadan is also the largest metropolitan geographical area...
, Ilesha and Lagos. After, his subtle beginnings as a fishing net and damask trader, he entered the Cocoa and Palm
Arecaceae
Arecaceae or Palmae , are a family of flowering plants, the only family in the monocot order Arecales. There are roughly 202 currently known genera with around 2600 species, most of which are restricted to tropical, subtropical, and warm temperate climates...
trading business and started buying lorries to transport the produce to Lagos for export. He built two large commodity storage stores during this period, one was located at Ijebu Ode, he was also involved in the business and political community as a member of the Produce Buyers Union and the Nigerian Youth Movement
Nigerian Youth Movement
The Nigerian Youth Movement was Nigeria's first genuine nationalist organization, founded in Lagos in 1933 with the name of Lagos Youth Movement and renamed the Nigerian Youth Movement in 1936.-Early years:Founding members included Dr...
. However, the establishment of marketing board
Marketing board
A marketing board is an organization created by many producers to try to market their product and increase consumption and thus prices. They most commonly exist to help sell farm products such as milk, eggs, or beef and are funded by the farmers of those crops. Marketing boards often also receive...
s, and the subsequent power of the boards to regulate Cocoa and Palm oil trading proved to be an inhibiting factor to private entrepreneurship in the commodity produce business. Odutola, gradually, transferred his resources and energy to saw milling and gold mining at Ilesha. He also became a major agent for John Holt Nigeria. At the beginning of the drive towards industrialisation in Nigeria,Odutola extended his industrial prowess to the production of rubber goods and started the manufacturing of cycle tyres and tubes in 1967.
Throughout his career, he established various factories in the country, spanning, the transport and food industry, he also built a secondary school at Ijebu-Ode. He was a member and later president of the Nigerian Stock Exchange and the Manufacturers Association of Nigeria in the early 70s.