The Contribution Of Adesoye Holdings Nig. Plc To The Economic Development Of Offa 1982 To 2009

Project and Seminar Material for History

The Contribution Of Adesoye Holdings Nig. Plc To The Economic Development Of Offa 1982 To 2009


Table of Contents


  • Title page
  • Approval page
  • Dedication
  • Acknowledgement
  • Abstract.
  • List of tables
  • Table of content

Chapter One

Introduction

  • 1.1 Background of the Study
  • 1.2 Aims and Objectives
  • 1.3 Scope of the Study
  • 1.4 Research Methodology
  • 1.5 Limitation of the Study
  • 1.6 Literature Review
  • 1.7 Foot notes and References

Chapter Two

The Evolution and Growth of Indigenous Industries Before the Coming of Adesoye Holdings

  • 2.1 Weaving Industry
  • 2.2 Factor for the growth of weaving industries in Offa
  • 2.3 Problems of indigenous weaving industry
  • 2.4 The Socio-Economic importance of weaving industry
  • 2.5 Blacksmith Industry
  • 2.6 The Importance of Blacksmiths Industry
  • 2.7 Decorated Calabashes
  • 2.8 Importance of Decorated Calabashes
  • 2.9 References

Chapter Three

The Evolution and Growth of Adesoye Holdings

  • 3.1 Okin Biscuit Industrial Limited
  • 3.2 The factors responsible for the growth of Okin Biscuit Limited, Offa
  • 3.3 Okin Foam Industrial Limited, Offa
  • 3.4 The factors for the growth of Okin Foam Industrial Limited, Offa
  • 3.5 Okin Malt
  • 3.6 Noble Beer Breweries, Offa
  • 3.7 The Socio-Economic contribution of the Industry (Brewing Industry)
  • 3.8 Adesoye College
  • 3.9 Factors for the growth of Adesoye College
  • 3.10 References

Chapter Four

Conclusion

  • 4.1 The importance of Adesoye Holding in the Socio-Economic Development of Offa
  • 4.2 Problems encountered by Adesoye Holdings
  • 4.3 References
  • Bibliography
  • Appendixes

Chapter One


Introduction

1.1 Background of the Study

Adesoye holdings are a multi-company organization, which is situated in Offa Local Government area of Kwara. Although, it has branches all over the country, but its headquarters based in Offa. Offa is a known town in Western Nigeria and it is a town in present day Kwara state. Offa is located on latitude 8100 North and longitude 4400 east on the map of Nigeria. The town occupied a prominent position in pre-colonial Nigeria history. Its eminence rested on the fact that it played a crucial role in the socio-economic and political events that took place in Yoruba land. For example, Moremi, an heroine in Yoruba history came from Offa to save the People of Ife from the incursion of the Igbos. Also, the Bashorun in AlaafinOjigi,s reign, died in a ditch while he was leading an expedition towards Offa.

The town also played host to the Fulani Jihadists from Ilorin. The process of territorial conquest led to the subjugation of Offa in the 1830s. it featured prominently in the Ekiti-Parapo wars at the end of which the British came to dictate peace in 1893. All these demonstrated the socio-economic importance of Offa before and during colonial period. Apart from the above, however, Offa dwellers engaged in various commercial economic activities such as farming, craftwork e.g. weaving, blacksmith, goldsmith, pot-making and calabash decoration. It was noted through an interview that only fishing work is not prominent in the area.


1.2 Aims and Objectives

The Adesoye holdings is an economic organization that is non-governmental in funding, but has board of directors with Chief E.O. Adesoye as the chairman of the Board of Directors. The Adesoye holdings was sub-divided into groups with each of them producing one thing or the other, which have no doubt, better the lots of Offa citizen, Kwara as a whole, and Nigeria at large. The organization has its aim and objectives as “conformability and enjoyment at low cost”. Therefore, all the branches of the holding take part one way or the other in achieving this aims and objectives.

This work is set to discuss the history of Adesoye Holdings, how it came to being, its early formation stages, various challenges encountered by the chairman board of directors in ensuring the sustainability of the age-long achievement of the holdings.

Without mincing words, the study would let the entire holdings know the importance of the good work they are doing for the community that enjoyed their services, and as such should continue in the good work they’ve embark upon, thus it also aim at telling the society to be suggestive whenever they have any advice that can move the Adesoye Holdings forward, as they stand to lose a lot if the holdings fail in its productions.

This essay is embarked upon to make an in-depth study of Adesoye Holdings in Offa.

It also looks into the roles, aims and objectives of the Adesoye Holdings to the economic development of Offa, how it contributed to the spread and growth of more industries in Offa, it also aimed at evaluating and simplifying a number of growth within the holdings itself, most especially, the spread of its branches all over the country.

The work tends to look at the financing of the holdings, and how, or the manner which the holdings use in sustaining the tempo and creating more awareness about the goods and services coming out of the holdings. It shall also inform the society, the extent to which the Adesoye holdings had use the human and natural resources in producing several goods which are of great use to the populace.

It is also meant to sensitize the workers of the holdings on the importance of their contributions to the development of the holdings, and also the need for the workers to appreciate the board of directors for the employment given to them, which had assisted them in keeping their various families. It is also important to state that this study is not merely aimed at highlighting the empirical and theoretical writings of the study, rather, it aims at increasing our understanding in all ramifications of the study and to contribute to scholars by critically examining the roles of Adesoye Holdings in the economic development of Offa. In other words, this study would aim at throwing more light on the more practical aspect of this topic.


1.3 Scope of the Study

The scope of the study is very wide, as the study attempts shall be made to trace the emergence of some firms in Offa before the coming of Adesoye Holdings in 1982. Thus, the establishment of Adesoye Holdings in Offa Local Government Areas of Kwara State, with its aims and objectives to be looked into. This work tends to bring out the various goods produce in each of the companies under the Adesoye holdings, and that is why the cheaper three of this project talks about various companies under the Adesoye Holdings like the Okin Biscuit Nigeria Limited, Adesoye College, Labande cereals and many others.

The chapter four of the work deals with the economic impact of the Adesoye Holdings to the development of Offa most especially during the first early years of its establishment, when few firms are only in existence in Offa.


1.4 Research Methodology

In the course of writing this project both primary and secondary sources were consulted. It must be stressed that only few people had worked on the personality of the chairman board directors Adesoye Holdings, Chief Emmanuel Olatunji Adesoye being an industrialist, but the uniqueness of this project is that no one has deemed it fit to look into the aspect of the economic contribution of the Holdings, most especially to the Offa community, and Kwara State as a whole. Knowing fully well that there cannot be a successful community or state without the contributions of industries in order to boost the economic statues of such community or state.

However, since is an attempt to contribute to human knowledge additional information (which forms one of the aims and objectives of the study), this provides a new insight, and an eye-opener about the operatives of the Adesoye Holdings.


1.5 Limitation of the Study

In the course of sourcing for materials for this work, I was faced with the herculean task of knowing the location of the various companies under the Adesoye Holdings in Offa. When I got to those industries, the needed information given was not detailed, then I embarked on individual interview with important personalities at those companies. At the Adesoye college, a new principal Mr. Bradley Sailes had just taken over from Miss. J. Steward, therefore, he was not willing to grant an oral interviews, because, he does not want to be quoted. But after a much persuasion, he agreed to be interviewed. Also, I was faced with the problem of collecting conflicting information, especially in the aspect of knowing the exact kick-off date of the Adesoye Holdings. Although the dates given were correct, as some companies had been establish under the holdings in other part of the country like Adesoye was established in 1969, but this work is mostly concern with industries established in Offa under this holdings, and the first to be established is the Okin Biscuits Limited, which was established in 1982.

In other to establish the validity of oral interview, attempts were made to cross check the information given. Thus, the researcher has been able to separate the truth from fallacy in the information obtained and was finally able to collate this project.

Another constraint is the issue of fund. There was no enough fund at the disposal of the researcher to carry out a more field work, because there are series of interviews needed for the detailed assessment of the roles and contribution of industries under the Adesoye Holdings that were sited in other towns and states, to the economic development of the various towns and states which they were sited. In addition, relevant text could not be found in libraries as related to the Adesoye Holdings.

There was also problem of time, because there were other students and researcher trying to reach the new principal of the Adesoyecollege, Mr. Bradley Sailes who came from America not quite long. Also, Mr FataiBabatunde who also have othe engagement and other activities of Labande Cereals Limited to attend to. This made the oral interview meeting time, to be rescheduled for more than two times.

Furthermore, on realizing that the researcher was not one of them, they vehemently refuse to give out their information and therefore, he was subjected to series of interrogations and in most cases, cross examined as if in the law court to ascertain that the researcher is not on a spying mission into the activities of the holdings. Moreover, most of the libraries visited were not in any way useful.


1.6 Literature Review

Many scholars and writers had written on the economic development in Offa, but on a few had written on the contribution of Adesoye Holdings to the economic development of Offa. Therefore, the bulk of materials used were obtained through oral interview, some unpublished materials and a few published material etc. However, some works have been consulted, among which is “Itan Offa” by Rev. J. B. Olafimihan.Olafinmihan gave a clear look of Offa before the colonial masters, how the people earn living through war with other weak communities and enslaving them. Rev. J. B. Olafimihan extended his writings to the period of colonial masters, the socio-cultural heritage of Offa, but fails to bring out economic activities of the people of Offa.1

Another relevant material is that of OkesholaToyinAdewuyi, “The growth of Industry in Offa/Oyun local government, 1960-1990’’ This project is very important to my work in the sense they, it’s about industries that had existed in Offa and Oyun local government area, but it fails to give details of the various industries which it talked about, in fact it was unable to mention all the companies under the Adesoye Holdings, not to talk about other companies in Offa, this is because its area of coverage is wide, it combined two local government area (Offa/Oyun), and this made the beauty of the work unable to be achieved.2

Another important contribution to this work is ‘Ijakadi’, a quarterly publication in Offa, which talked about industrial growth in Offa. Not only that the magazine was brief, but also failed to point out the economic contribution of the Adesoye holdings to the people of Offa3. In addition, a yearly publication of Offa Students’ Union: ‘Offa M’ojo’, talked about some crisis that had rocked the holdings which led to the closure of Okin Biscuit Limited in the year 2008, but failed to tell, how the holdings overcame the crisis period, and bounced back to life, with Okin Biscuit Limited now working more efficiently than ever.4


Chapter Four


Conclusion

4.1 The Importance of Adesoye Holding in the Socio-Economic Development of Offa.

Industrialization is a vital factor which influences the growth of Offa. Indeed, the established industries under the Adesoye Holding in Offa contributed immensely to the socio-economic development of the area in various ways. The location and establishment of these industries in Offa reduced the level of unemployment problem in the town. Many unemployed citizens got themselves involved in different kinds of jobs created by Adesoye Holdings. This however, elucidates the employment benefit derived from the industrial establishment in Offa.1

Companies under the Adesoye Holdings like the Okin Biscuit limited, Adesoye College, involved themselves in some social activities, such as environmental sanitation exercise, construction of roads, and building of water dams to facilitate water supply for industrial production. Looking critically for instance, Adesoye College rebuilt the Afelele-Igosun town together. Since it is the only road leading to the company, she undertakes reconstruction process annually especially during the raining season which cause great damage to the road.

In 1990, Chief E.A. Adesoye, the Chairman Adesoye Holding, built Igonna-Secretariat road, the road which linked Igbonna and Offa town together. The importance of this road is that it leads to his company’s headquarters, which encapsulated the chairman’s residence, company’s guest house, conference centre etc.

Also, the holdings had executed electrification project to enhance the effective production of the companies. For instance, Noble Beer limited Offa, embarked on electrification project, and this led to the development of villages situated around the company; for example, village like Oga-kunrin enjoyed from this gesture. Some social programmes that enhanced unity and progress in the area were sponsored by companies under the holding. They donated generously to the specialist hospitals and local clinics in the area. Some hospital equipment and financial needs of these hospitals and clinics were given out generously. Adesoye Holdings also assisted in developing the social welfare of the town, for example, motherless babies in Offa, were given assistance. This donation is made annually by this company as their own contribution to the growth and development of Offa. This is particularly done during their various end of the year programs.2

Adesoye Holdings also promotes educational development in the area. This is done by organizing Interschool’s debates and scholarship to students in Offa. For instance, Adesoye College Offa, and Okin Biscuit limited Offa, jointly sponsored 1989 inter-primary school debates in Offa. Notable also is Offa Students’ Union annual Summer School, organized by the Offa Students’ in the higher institution, which aims at improving the educational skills of primary and secondary school students, is been sponsored annually by Okin Biscuit limited, Offa.

In order to improve the mental alertness of the primary school pupils, several sporting activities such as table tennis and football competitions in Offa in 1990 and 1992 respectively. The love and passion the Adesoye Holdings had for sports, made the then manager of Okin biscuit to have a football team, which was named after him “Keshavan F.C.” which had won several competitions in Offa and its environs, and promote peace and harmony among the youths. It should be noted however, that industrial development in Offa through Adesoye Holdings, did not only improve the living standard of people, but also enhance the growth and development of Offa.

Annually, the Adesoye Holdings gave some financial assistance to the local, state and federal government by way of rents, royalties import/exercise duties and other taxes. According to MAN 1993 publication;

Brewing industries made a total contribution of about N1billion to the coffers of the Federal Government by way of import/excise duties and other taxes. Definitely brewing Industry is a strong pillar of support for the Government’s programmes for speedy economic recovery.

Apart from the financial contribution made by the established companies in Offa, specifically the Adesoye Holding, also help in capital investment over the years. This is achieved through savings of part of their incomes either in banks or investment companies. This undoubtedly enhanced the economic development of Offa Local Government because part of it is used for economic development. According to MAN publication,

The Federal, State and Local Government as well as individuals realise the financial profitabilities of the industries, hence their attraction to substantial equity holdings in a number of them. Even where Governments do not hold equity shares, the companies no doubt boost the economy of the states and Local Government in which are located, and directly benefit them through employment of labour and payments of rents, rates, taxes and other charges
All these are meant to prove the socio-economic importance of Adesoye Holdings in Offa her environs.3


4.2 Problems Encountered by Adesoye Holdings

The main problem facing the holding is a lack of sufficient capital to courage high production in order to meet the huge demands of the customers. The capital needed for the effectiveness of companies under the holdings is much, and there is need for governments to lend a helping hand.4

Also lack of enough raw materials also hindered the growth of industries under Adesoye Holdings. Though some raw materials are locally available, but some imported ones such as chemicals, are not easily available. This is because it takes a very long process before the company could import them. This eventually hindered and delayed production ability, and products from the quick reach of their consumers. More importantly, was the problem of mismanagement on the part of the companies under the holdings. The Chairman of the Adesoye Holdings close down production activities in Okin Biscuit limited as a result of mismanagement in 2009, after sorting out the major problems, the company began operation in 2010.

It is equally important to note that several companies under this holdings like Noble Brewery Industry, Okin Foam, Labande Cereals, Okin Malts and Okin Transport, were at the receiving end of these problems, which made them to stop operation till now.5

Conclusively however, the surviving industries under the holdings like Okin Biscuit limited, Adesoye College etc. had no doubt live up to expectation. Owing to the socio-economic contribution or importance of the industries under this holding, it will be advantageous if the Federal Government encourages this sector, hence they foster the total economic upliftment of the nation in general.


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