Politics

Personality profile of Dr. Wale Bolorunduro (Osun East Senatorial aspirant)

Osun State is gradually entering into another political phase with the Governorship election slated for September 22, 2018 and the General Elections coming up next year. Spear Gists would do a personality profile of possible political contenders in the state in order to unveil their background as our investigation has shown that many people in the state are interested in the personality of political
actors than the political party that they belonged to in choosing who
to vote for.

A personality to be unveiled in this edition is an academic giant,
financial expert, a thorough bred technocrat turned politician and
political change agent, Dr. Samuel Adewale Bolorunduro. He was born on September 7, 1966 by an Ere-Ijesa, Oriade Local Government Area of Osun State father but raised in Ilesa. He grew up with his paternal Grandmother in Araromi, Okesa and later lived in Stadium area.  Primary school was a public school in Ilesa and secondary school was Ilesa Grammar school. Though couldn’t be raised by his biological father who was an accountant in Lagos because Wale was the first grandson of the old woman who had Wale’s father as her only child. His ability to recount his rich historical geneological background that connects him to his blood relations across many prominent Ijesa lands like Ilesa, Iwara, Iperindo  and others is to his advantage

After two decades of experience in financial service sector of the economy, he rose to become a General Manager in Zenith Bank Plc. Well educated with a First Class Honours degree, Masters degrees in different fields and PhD,  Dr. Wale Bolorunduro can be described as a man with midas touch as he shares many attributes of the Biblical Prophet Samuel in his leadership traits. As an advocate of educated, brilliant, talented, young, good-intentioned dynamic, energetic, focused elites foraying into politics to change and improve the course of Nigeria political space, communities and society at large, he has today become a politician aspiring to contest election into Osun East Senatorial seat come 2019. One of his admirers succinctly put it thus; “from Engineering to Finance and Banking and Corporate World to Politics, what a wonderful gift?”. This is visible because he has demonstrated that he is a team player in the corporate setting as well as political organization that he has actively participated in. And this has helped immensely in exhibiting the leadership qualities naturally embedded in him. Above all, he is a blend of local traditional culture with modernity as his mastery and usage of his native Ijesa dialect stand him out as a local man to the core entrenched in his grass root.

Bolorunduro’s deep, vast and versatile understanding of the politics
of his people actually launched him into a seemingly complicated
political foray when he got his real first baptism into active
practical politics with his appointment as the Chairman of Ijesa North Federal Constituency Campaign Committee for the Re-election of Ogbeni Rauf Aregbesola as the Executive Governor of the State in 2014. He rose to the occasion, used all his energy and resources to mobilize and campaign for his boss in order to swing the electoral tide of Oriade/Obokun from traditionally Peoples Democratic Party (PDP) enclave to that of All Progressives Congress (APC) with the eventual victory of Aregbesola. This is in contrast to 2007 when Ogbeni Aregbesola was able to win only 3 wards in Oriade and Obokun local governments

His creditable performance in political assignments led to his choice
as one of the Osun State Delegate to the All Progressives Congress
Presidential Primary Elections (held in Lagos) where Gen. Muhammadu Buhari emerged as APC Presidential flag-bearer in 2014. He was subsequently appointed as the Chairman of Ijesa North Federal Constituency Campaign Committee for the Election of General Muhammadu Buhari as the President, Federal Republic of Nigeria) in 2015.

He was again appointed as the Chairman of Ijesa North Federal
Constituency Campaign Committee for the Re-election of Senator
Babajide Omoworare (Osun East Senatorial District) in 2015; Chairman, Ijesa North Federal Constituency Campaign Committee for the election of Hon. Aloba Tomilayo and Hon. Oyintiloye Olatunbosun respectively as House of Assembly members in Oriade and Obokun State Constituencies in 2015

His core objective is to render service to humanity with humility and
to reach out to many Nigerians

Dr. Adewale Bolorunduro was the former Commissioner for Finance, Economic Planning and Budget for Osun State, South West Nigeria, between 2011 and 2014 during which time he introduced automation of Revenue Collection which eventually resulted into efficiency in the state’s internally generated revenue collection; growth of revenue from N300 million to N1Billion monthly through various strategic initiatives;. reform of the state’s Financial Regulatory Framework and passing of the following laws:-Osun Revenue law, 2012; Fiscal Responsibility law, 2012; Omoluabi Conservation Fund, 2012; Osun Debt/Bond Issuance Law, 2012; Osun Debt Management Law 2012.

Others are; automation of Payroll and Pension Payments which resulted into substantial savings for the state; raising of
Developmental/infrastructure funds from Capital markets involving
particularly the floating of the maiden asset- based bond (popularly
known as “Sukuk”) in the country. Osun state’s N11.4billion Sukuk
(which was issued from the state’s N60billion Debt issuance programme approved by the SEC in 2012) remains the first sukuk issuance in the country; initiation of State and Local Government Governance Reform (SLOGGOR) of Public Financial Management; Reformation of the state’s budgetary methods- introduction of Zero based budget (Programme Based Budget) to replace the antiquated and non-performance driven incremental budgeting system; re-engineering of the state’s financing with various derivatives financing options such as Note Purchase Facility, contractor financing, etc. with substantial cost savings benefits to the country; initiation and conduct of baseline study on the state socio-economic indices, which becomes a powerful tool in budgetary and optimal revenue allocation decisions in the state.

He also embarked on restructuring of the state’s Debt Management
office (which hitherto was operating as a department under the
ministry of finance) in compliance with the state’s Debt Management Law 2012; restructuring of the state’s own mortgage bank-Omoluabi Savings and loans Limited into a Public limited entity (Omoluabi Savings and Loans Plc) and listing of the bank with the Alternative Security market of the Nigerian Stock Exchange (NSE); reformation of the state’s micro credit scheme, with formation of Osun Micro credit Agency, and positioning of the same to access the sum of N2billion from the Central Bank of Nigeria N220billion Micro, Small and Medium Scale Enterprises Development Fund (MSMEDF). Osun was one of the first
few states that accessed the fund for rejuvenation of the state’s
micro, Small and Medium scale entrepreneurs; deepening of the state’s relationship with the regulators, financial institutions etc;
packaging of the state’s fiscal expenditure to derive commerce and
investments in the state through formation of some Special Purpose
Vehicle companies- such as Omoluabi Modern Garments industry Limited (co-owned by the state and a private entrepreneur), Osun Sukuk Company Plc etc. This initiative also promotes skill acquisition drive in the state in addition to its job creation multiplier impact; creation of various schemes for the promotion of SME activities in the state. Initiatives such as Osun Broilers Outgrower scheme (OBOPS), Osun Fishery Outgrowers Scheme (OFOPS), Osun Taxi scheme, etc. which constitute innovative conduit through which various low cost intervention fund was made available to farmers, traders, and artisans in the state.

Between 2011 – 2016 (31st Aug), he was the Chairman, Board of
Directors, Omoluabi Savings and Loans Plc

It was to his credit that he embarked on a number of humanitarian
services for his people in Ijesa North Federal Constituency as well as
other parts of the state mostly in areas of power intervention in
ensuring that electricity gets to many communities across the state,
provision of transformers, distribution of free uniforms to pupils and students in primary and secondary schools, free health services as well as intervention in higher institutions students welfare, to
mention just a few of them.

Dr. Wale Bolorunduro attended Orire Ogedengbe Primary School, Ilesa where he did his Primary School Leaving Certificate Examination and later Ilesa Grammar School, Ilesa where he did his West Africa School Certificate Examination in 1984 and excelled. He proceeded in his educational career to Obafemi Awolowo University, Ile-Ife where he read Metallurgical and Materials Engineering, graduated with a First Class Bachelors degree in 1990 and was awarded the best faculty grade, Miccom Award for the best graduating student, Society of Engineers Award for the best graduating student in the Faculty of Engineering and University
Award for the graduating student with the highest Cumulative Grade Point Average- C.G.P.A. of 4.35 out of 5.0 for the year 1990.

He started his Accounting career with Arthur Andersen & Co. Lagos
(Audit and Chartered Accounting firm) in 1991. He subsequently picked up an appointment with Zenith Bank and rose through rank and file to become Deputy Manager, Strategic Planning & Financial Control from 1994 -1997. He joined Arthur Andersen & Co. Vancouver B.C. Canada in 1997 as a Senior Consultant and moved to BMO Nesbitt Burns (Investment Banking Group) Vancouver, B.C. Canada in 1999 as a Manager (Project Finance). He took up a teaching position as a Teaching/Research Associate at the University of British Columbia, Vancouver, B.C, Canada in 2001 and subsequently returned to Zenith Bank Plc as Senior Manager, Energy Division (Oil & Gas) in 2003. He continued his career
at Zenith Bank Plc between 2003 and 2011 in various capacities as
Senior Manager, Energy 2003, Assistant General Manager, Deputy General Manager, Group Head, Telecoms & Technologies Businesses (Corporate Banking) 2003 – 2007 and General Manager, Head of the Infrastructure and Power Sector (Corporate Banking) from 2007–2011.

Dr. Bolorunduro also obtained with awards, Masters Degree (Business Management) and PhD degree from the University of British Columbia in Canada in 1999 and 2002 respectively. He later obtained Masters degree in Corporate Governance from Leeds Business School, United Kingdom in 2009. He has attended numerous courses all over the World such as Wharton Business
School Executive Course and has been involved in numerous landmark transactions.

He pioneered construction financing in Telecom industry between 2003 and 2006, and iconic project finance transactions in upstream Oil and Gas, Telecoms, Power and Infrastructures. He is currently authoring a book on Project Finance. Dr. Wale Bolorunduro is happily married with children.

It is to his credit that he has been involved numerous national
assignments in the past amongst which are member of Nigerian Banks Delegates on project Finance to Export Development Corporation (EDC), Canada, 2006; Federal Government of Nigeria Delegate on Energy and Power to Brazil, 2007; Federal Government of Nigeria Delegate on Energy and Power to Germany, 2008; Technical Committee-Central Bank of Nigeria Bankers’ Committee on Power and Aviation sectors, 2010; Power and Aviation Intervention Fund (PAIF)-500Billion, 2010.This is as a result of his specialized skills.

His Non-Governmental Organization-Wale Bolorunduro Foundation founded in 2006 has since then till date been doing yeoman’s job in the areas of educational intervention like scholarship awards to indigent students’, free summer coaching and payment of JAMB fees, intervention in health sector through provision of free health services to various communities at different times, payment of hospital bills for indigent patients, empowerment of widows, free transport scheme for students

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