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Soleye opposed the devaluation of Naira in 1980s—Gov Abiodun



Abiodun Promises Assistance To Young Farmers, Investors

Ogun State Governor, Prince Dapo Abiodun, said his administration plans to immortalise the late former Minister of Finance, Dr. Onaolapo Soleye, who he said resisted Naira devaluation in the 1980s.

Governor Abiodun made this known during the final burial ceremony of Dr. Soleye at Owu Baptist Church, Abeokuta, Ogun State.

Abiodun acknowledged the contribution of Dr. Soleye to the development of the Western Region, noting that Oodua Investment Group was birthed during his tenure as Commissioner for Industries.

He also contributed to the success of Ogun State as Commissioner for Trade, Industries, and Cooperatives as well as Works and Housing, and, later, Finance.

Governor Abiodun added that it was under the watch of Dr. Soleye as Commissioner for Industries that the Gateway Hotels were built and commissioned across the state.

The deceased served as Finance Minister between 1984 and 1985 under the military regime of Gen. Muhammadu Buhari. That was when he fought and resisted the devaluation of the Naira and also ensured that new notes were printed.

“Baba was a gentleman. But as gentle as he was, he was also an activist. From all accounts, he was a black nationalist.

“As a state government, we have decided that we are going to immortalise this great man of Ogun State. We will be naming something after Soleye; something that people will remember him as someone who served this state diligently and selflessly.

“I will be dialoguing with Baba Obasanjo. Between something we are building in Finance and Trade and Investment, I will decide with Baba Obasanjo which of those edifices we are going to name as the Onaolapo Soleye edifice,” he said.


Earlier in his remarks, Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun assured that the Nigerian economy would continue to soar higher.

He noted that what is best for the country is uppermost in the mind of President Bola Ahmed Tinubu.

“What is good for Nigeria is what is uppermost in our minds. Not what IMF or any other foreign organisation thinks.

“By God’s grace under the able leadership of President Bola Tinubu, we will move forward with this economy, Nigerians will smile again,” Edun said.

He acknowledged the brilliance and contribution of Dr. Soleye to the nation’s economy during his lifetime.

Soleye was able to resolve some trade disputes through some of his initiatives, he added.

Credit: Vanguard

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