by Agbonmagbe Kazeem
– An Entrepreneurial Leader & Industrialist
> His Business Relationship with Henry Ford
> Chief Awolowo’s Appeal to him for Loan
> And the Reason why Chief Awolowo embarked on Free Education Program in the West.
Timothy Adeola Odutola 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 and a Business Associate of Henry Ford (of Ford Motors). He was also once the President of Nigeria Stock Exchange.
Chief Timothy Adeola Odutola was famous in his times. He remains famous in our days and his name is bound to be counted among the famous of our nation in times to come. But he did not become famous by accident. His life, although showing such nobility of comportment, actions and deeds, was lived laboriously and very scornful of inconsequential delights.
Another interesting thing about Timothy Adeola Odutola’s Story, was the Educational Loan appeal that Chief Obafemi Awolowo requested from Timothy Adeola Odutola ,but Odutola denied Awolowo’s request.
Chief Timothy Odutola was born in Ijebu-Ode, seven years before the birth of Awolowo (1902).
Nevertheless, Chief Awolowo never allowed Timothy Adeola Odutola’s loan Decline, to deter his dream, Vision Or aspirations.
Neither did Chief Obafemi Awolowo held grudges Or animosity against Timothy Adeola Odutola, because this Same Chief Obafemi Awolowo affected Adeola Odutola’s life POSITIVELY in later life.
Let’s take a look at the Earthly Sojourn of Chief Timothy Adeola Odutola.
Early life :
Adeola Odutola was born in 1902 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.
Timothy Adeola Odutola 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, under the principal, Rev Oladotun Ransome Kuti (Fela’s father).
After cutting short his secondary education, Timothy Adeola Odutola left for Lagos 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.
Business career :
In 1932, he resigned his positioning as a court clerk 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 (NYM).
However, the establishment of marketing boards, 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.
Timothy Adeola 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, Timothy Adeola Odutola extended his industrial prowess to the production of rubber goods and started the manufacturing of cycle tyres and tubes in 1967.
Timothy Adeola Odutola and His Brother, Automobile Partnership with Henry Ford :
The American entrepreneur and manufacturer – Henry Ford founded the Ford Motor company on June 16 1903, the exact first birthday anniversary of T. Adeola Odutola, first President of the Manufacturers Association of Nigeria (MAN) – having been born on June 16 1902.
Henry Ford and Timothy Adeola Odutola both set up Rubber plantations for manufacturing tyres.
Ford failed in his manufacturing of tyre ambition, but Odutola succeeded, establishing one of the most prominent and pioneer tyre factory in Africa.
Interestingly, on March 16 1958, the 53rd birthday anniversary of another tyre merchant now late, Jimoh Odutola (Kid brother of Adeola Odutola), Henry Ford rolled out the 50th millionth Automobile from his assembly line.
History also has it that, Henry Ford manufactured millions of cars named and modelled as T. Ford. Msny wonder what the ‘T’ in T Ford stands for.
That T is the T. in Adeola Odutola which stands for Timothy.
Henry Ford and Timothy Adeola Odutola both passed away in the month of April: Ford on April 7 1947 and Odutola on April 13, 1995.
So when we celebrate the existence of the Ford Motor Company, the producers of the model T. Ford, we are invariably celebrating the life and times of T. Adeola Odutola , one of the first African entrepreneurs to be featured in the Time Magazine.
Henry Ford has a Foundation established in his name as a legacy of his service to humanity.
Chief Timothy Adeola Odutola also has a Foundation established to mark his service to humanity and keep his legacy as an entrepreneur.
Interestingly, the Chairman of Adeola Odutola Foundation is Prof Akin L. Mabogunje born on October 18 1931 – the day the great inventor, Thomas Alva Edison passed away. Henry Ford was Chief Engineer to Edison during his life time.
In his life time, the success story of late Chief Timothy Adeola Odutola preceded him. He was known not only in Nigeria but beyond our shores which explains why the British honoured him with the Order of the British Empire in 1948.
OBAFEMI AWOLOWO VS TIMOTHY ADEOLA ODUTOLA ON EDUCATION LOAN :
Obafemi Awolowo made a loan request of £1,400 from Chief Timothy Adeola Odutola on March 25, 1943 , (the richest Ijebu man in those days) and promised to pay him back by 1955.
This is the letter Chief Obafemi Awolowo wrote to Timothy Areola Odutola :
THE AWOLOWO’S LOAN LETTER :
Dear Mr. Odutola,
I think it will be an exceeding saving of time and more business-like if I avoid all sweet preliminaries and go straight into the object of this letter and say that I am writing to ask you to be good enough to lend me a sum of £1,400 (One thousand and four hundred pounds) free of interest for twelve years.
It is a staggering figure! More staggering indeed does it become, when it is realized that I, who am asking for this loan, have nothing in all the world to give as a security for this money, excepting my good faith and my brains which again are of value only so long as I continue to breathe the breath of life!
Nevertheless, I here proceed to outline in brief why i want this big loan from you. And I hope you will be kind enough to sacrifice some time to go through what I have to say, even though , in the end you might find yourself unable to do me this grand favour.
One great ambition of mine since my boyhood days is to be a lawyer, a politician and a journalist, rolled into one. I cherish politics and journalism as a career. ; and I desire advocacy as a means of livelihood. For you will agree with me that a politician or journalist who has no money with which to support himself and family comfortably ,is like a blade which has no razor.
Now, at one time, I was on the verge of making enough money with which I could proceed to England in order to pursue the object of my ambition; but I suffered a twist in my fortune, and I crashed. Ever since, I have tried without success to recover lost grounds, financially. But spiritually and intellectually, I have made appreciable advance in spite of towering difficulties, all of which have now been surmounted.
As you are aware, I have just passed the intermediate Bachelor of Commerce Examination. Next year, I am taking the final B.Com. Having a degree is not my goal; I hate to be a government or mercantile employee. Otherwise, there are opportunities for me here and there to get a suitable and well paid job under government or one of the mercantile houses. As you know, however, once I become an employee of government or a mercantile establishment that is the end to my career as a politician and journalist. I have therefore resolved that under no circumstances will I take up such employment.
That is just by the way. I am now thirty-four years of age. After careful thought, I have come to the conclusion that if I could raise a loan free of interest sufficient to cover expenses , I should go to England , this year and within three years, I should qualify as a Barrister –at –law, and also obtain with Honours the LL.B Degree of London University. In addition this degrees apart from giving me good backing as a solicitor and Advocate will help me immensely as a politician and journalist.
But where on earth could i get the money? Who in Nigeria today could give £1400 free of interest to help his fellow-man? J.Henry Doherty, Esq., of illustrious memory who did the like to many successful Nigerians is no more. But after meticulous, shifting and weighing, I hit upon you.
I have no doubt whatsoever in my mind that out of the bounty with which providence blesses your grit and efforts as a businessman, you can well easily afford to advance such a sum of money. I have no doubt too that as a young and progressive man you will be quite happy to give the money for the pursuit of the project for which I desire it.
But then, could you take this risk?
That is the question. As I have said before, I have no security for this loan. Moreover, I want it free of interest. So that you stand to gain absolutely NOTHING in the whole transaction ,except the satisfaction that by helping me to achieve my ambition you are indirectly or even directly helping Nigeria or even Africa.
This risk becomes greater when it is borne in mind that I might die in the course of my studies or immediately after , so that, since I have no security or surety, you stand the chance of losing not only the money but also the satisfaction which you may cherish that you are contributing to the uplift of Africa. It is indeed a great risk; the greatest any man ever embarks upon.
But, this is a big BUT, if I live, as I have no doubt I will do, you will not only get your money back in full, but you will , to the end of your days , have cause to rejoice that you have done one of the most outstanding and most philanthropic acts any human being ever does. Among other things, I shall make excellent use of the money while in England by breaking records in my examination. On my return to Nigeria, I shall strive to be one of the foremost advocates, politicians and writers in West Africa, and while I do all these, I shall make it a point not only to pay your money back in full, but also to repay your kindness and generosity towards me in every way I can.
All the same, it is a big risk! So , Sir, I like you to think seriously about it, and see if you can take it in the interest of a young man who has brains ,industry and determination to back his ambition , but lacks the money. I know we have never been close friends, but I have a shrewd idea that you may take the risk and help me.
On this assumption, therefore, I proceed to the next and last stage of this letter.
I shall not require the whole £1,400 in a lump sum. To start with, you will help me pay a sum of £208-13s-3d to the Inner Temple. I have already received an application form from this Inn of Court; and from the details forwarded, I gather that the sum of £208-13s-3d will cover all the cost of training as a Barrister, examination fees excluded.
When I am ready to sail, you will advance me a sum of £100 to cover passage, provision for my family and any other incidental expenses( NOTE: If i got torpedoed on the way, you would certainly lose this £100 but you will recover the £208-13s-3d).
At the same time you will remit to a London Bank the sum of £491-6s-9d. It is out of this amount that I shall pay the university fees for LL.B course a, and for special courses in political science and journalism, when I land in England. This is to say, the initial advance will total £800.
At the end of the first year, provided I make satisfactory progress in my studies, you will give instruction to the bank to honour all cheques from me drawn on this account. There will be an arrangement to be signed by me on my return.
On my return, I shall require TWO years within which to establish a solid practice and build a good reputation. After these two years, I should commence to pay at least £200 per annum either in monthly, quarterly or annual payments. So that in seven years after the first two years, I should pay back the whole sum of £1,400. That will be TWELVE YEARS from the time you help me to pay this in April or so this year, then I should be due to pay the whole of £1400 by April 1955.
Now, as you yourself will see, this is the farthest limit within which I can pay the money. It may be possible for me to pay the money within THREE to FIVE years of my return. As a matter of fact, the sooner I pay it off, the better. But it is much better to be on the safe side in a matter like this. It is no making promises now which will be difficult to fulfil in future. On the contrary it is better to mention a period of twelve years and pay within SIX or EIGHT years than to mention FIVE YEARS and fail to pay within TEN years. Personally, I prefer that I should fail to get the loan under theses unattractive but sure conditions, rather than succeed in getting it under attractive but precarious conditions.
Now, this is all I have to say. You have my request before you, and the reason why i make the request. It is left to you to decide whether it is worthwhile to take the risk of helping me in the manner outlined above or not.
If you do me the great favour, not only myself and all that are mine, but also God and Africa will be grateful, I shall have no cause whatsoever to grumble or to blame you, FOR THE RISK IS GREAT.
Since this is a very selfish request, I enclose herewith a stamped addressed envelope for a reply to be sent to me under registered cover.
With very kind regards.
Yours sincerely,
(Sgd) Obafemi Awolowo.
Ironically, Chief Timothy Adeola Odutola refused Awolowo the Loan, And So, Obafemi Awolowo could not travel that year.
And as at the time Obafemi Awolowo requested this £1400 education loan from Chief Timothy Odutola, The Chief is already worths millions of Dollars.
But, Obafemi Awolowo did not allow the Loan request refusal to weighed him down.
By this time, Obafemi Awolowo had three children already (Segun, Tola and Wole) but yet, he was so determined to become a politician, Solicitor and a Journalist.
Awolowo buckled Up his lace and by August 14, 1944 (one year later after the Loan refusal by Timothy Adeola Odutola) Awolowo eventually travelled to England, he studied and became a Barrister of law, and was called to the Bar in November 1946.
Amazingly, by 1954 (A year to the time he promised to pay Chief Odutola the Loan ) , Chief Awolowo was already a Premier in the Defunct Western Region and already giving out Scholarship to over 200 undergraduates (First of its kind in Africa as at then).
This Story depicts that, Destiny cannot be Changed Nor Denied, but can only be Delayed:
Obafemi Awolowo was so optimistic of travelling abroad and achieving his goals. He planned it for 1943 but failed since Chief Odutola refused to grant him the request for loan.
Nevertheless, Awolowo was NEVER discouraged! Rather, he Worked harder for the next one year and travelled by 1944.
This also explains why the only person that can fail you is YOU, YOURSELF.
Chief Timothy Adeola Odutola might eventually be disappointed for not granting that Loan favour to Obafemi Awolowo, because Awolowo later installed Timothy Adeola Odutola as the Ogbeni Oja of Ijebu Ode when he was Serving as Premier of Western Region.
In addition, “in 1956, however, a general election was called.
Timothy Odutola contested on the platform of the Action Group and recorded an overwhelming victory. This was not surprising. He had fully become a man of the people. In 1955, he had been elected Chairman of the Ijebu Provisional Council. In 1956, a vote of confidence was passed on him, in recognition of his good management of the Council. He was also re-elected Chairman of the Council. In 1957, the same process was repeated.
Chief Timothy Odutola remained Chairman till 1959 (Abati,1995:78) .”
Are you surprised? Never be, the man who requested for education loan now a Premier (equivalent to some 7 states governor today) while the billionaire became one of his many Local Govt. Chairmen. They became so close that Chief Odutola was with Awolowo in the Action Group political party.
That is life for you.
Awolowo eventually did not only end up achieving his dream, he also touched so much lives Positively.
Now the question is why then did Chief Timothy Adeola Odutola refuse Awolowo’s loan request?
Well, Maybe he was not filled with enough Grace to give Awolowo the money, Or Maybe Almighty God didn’t want to share his glory with Adeola Odutola.
Because, Chief Obafemi Awolowo would have owe everything he achieved in later years to Timothy Adeola Odutola.
TIMOTHY ADEOLA ODUTOLA’S REASON FOR NOT GRANTING AWOLOWO THE LOAN:
In 1994, TheNEWS Magazine, conducted an interview with Chief Timothy Adeola Odutola, and asked him reason why he refused granting the Loan to Obafemi Awolowo then..
His reasons were :
“I did not know him (Awolowo) then. I knew him only as a letter writer. He said he was going to study abroad, I should give him money. He did not tell me how much he wanted and how long it would take him to pay it back. If he had told me these, I would have probably acted differently. Besides, that time, myself and my brother were running the business together. He needed to seek the consent of my brother before I could release the money to him”.
Timothy Adeola Odutola Said.
Legacy Of Timothy Adeola Odutola :
Throughout his career, he established various factories in Nigeria, spanning, the transport and food industry.
Chief Timothy Adeola Odutola also built a secondary school at Ijebu-Ode, Ogun state.
Timothy Adeola Odutola was a member and later President of the Nigerian Stock Exchange and the Manufacturers Association of Nigeria in the early 70s.
The Children of Timothy Adeola Odutola :
1. Professor Oyinade Odutola-Olurin (Ofr) Odutola)
Graduates with an MBCh.B from the University of Bristol in 1959, and later obtained a postgraduate degree of Master of Surgery Ch.M. from the University of Bristol in 1975. She had professional postgraduate training and practice in Ophthalmology both in England and Nigeria, mainly at the University College Hospital, Ibadan.
Professor (Mrs) Odutola-Olurin is the first female Professor of Medicine in Nigeria.
She retired as Professor of Ophthalmology at the University of Ibadan and currently runs her 2 practises as a private Ophthalmologist both in Ibadan and Ijebu-Ode. She is on the board of several quoted companies and currently holds the position of Chairman of Consolidated Breweries Plc.
She is also the Chairman of Odutola Holdings Ltd and………..
To be continued
“THE HISTORIAN”
AGBONMAGBE REMILEKUN KAZEEM
+2348036472826
Leave a comment