Learn from Taiwo Odukoya's Ingenuity, Instead of Criticizing - Uloka


By Arinze Asogwa

ENUGU: The recent announcement of Jimmy Odukoya as General Overseer and Board of Trustees Chairman of the Fountain of Life Church following the demise of his father, Taiwo Odukoya, has sparked controversy among Nigerians who are questioning if Pentecostal churches are now run as family businesses. However, Anambra-based public policy critic and media personality, Uloka Chibuike, has a different view. He is urging Nigerians to learn from Taiwo Odukoya's ingenuity and ability to sustain an establishment, through the building of family headquarters and succession planning for successful establishments.

Uloka believes that what Taiwo Odukoya accomplished with the church, and his intentional application of business succession plans, is currently lacking in Nigeria's business environment, which has resulted in a decline of successful businesses in the country. According to Uloka, if more successful businesses had been intentional about their succession planning, it would have been easier to sustain a lot of establishments.

He further urged that rather than criticizing the Odukoyas, who have successfully followed the Business Succession Plan, business owners should start thinking about succession plans and build family offices for their ideas to outlive them. Uloka also stated that there's much to learn from Fountain of Life Church to sustain establishments, calling on others to follow the same path and ensure that establishments outlive them.

"Rather than criticize the Odukoya, I will instead applaud Taiwo Odukoya's learning and application of the Business Succession Plan, which is lacking in most establishment in Nigeria and Africa, hence the steady decline in almost successful businesses of the 60's 70's, 80's, 90's and till date."

"If most successful businesses were intentional about their succession planning and domiciled their business headquarters in their family office, we wouldn't struggle to create businesses every generation but rather manage the existing ones progressively."

Uloka described the church as a billion-dollar venture and also called on the government of Bola Tinubu to reconsider the tax exemption of churches registered and listed as non-profit organizations. He stated that the church could contribute billions to the nation's economy through tax remittance if properly structured.