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A Critical “Sunshine” Look at Arakunrin Rotimi Akeredolu

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By Femi Alaka, Ibadan

Not a human being could be so loved and blessed as Arakunrin Rotimi Odunayo Akeredolu, the man calling the shot at the Alagbaka House, Akure, and for those who love him, he would absolutely worship.

His story could be likened to the famous novel and one of the best fictions in history, Robinson Crusoe. The character lived alone in the desert for 99 years and finds his way back to the human community. He was fortified with love, acceptability, warmth reception in an unimaginable proportion.

Akeredolu after a life struggle incubated hatched in Ibadan and Ile-Ife went back to his state of origin to become a servant Governor in a hotly contested election. The rest is now history.

The sun shines on him when he was trusted with the responsibility of governing one of the most populous states in the South West of the country, Ondo state about four years ago. For the people of Ondo State, with “Sunshine” sobriquet, this is certainly the best of time to appraise the performances and qualities inherent in those that have governed them. Leadership is a function of followership. The people deserve their respect in the temple of justice. I give it to them with due respect. 

Successive leaders in Ondo State from late Chief Micheal Adekunle Ajasin, Bamidele Olumilua, Adebayo Adefarati, Dr Olusegun Mimiko made great impacts in developing the state, their efforts have been complemented by Rotimi Akeredolu with great zeal. However, nobody can do it all, no matter how rich or intellectually endowed ,there will always be room for improvement. This explains why Akeredolu cannot be said to score 100 percent. 

Being a person I knew from childhood, it will not be an exaggeration to dishonesty to describe Governor Akeredolu as a quintessential intellectual imbued with administrative ingenuity visible in his governance in Ondo State.

The voice of man is the voice of God. As an inquisitive character and Public Affairs Analyst of long standing, I was impressed of accolades from certain quarters on his impacts on infrastructural, educational, heal, agricultural, human and capital developments in his state of primary assignment. His adversaries would always be quick to add that there would always be the need for improvement. I verily share this sentiment.

I crave the indulgence of readers here to submit my modest assessment of the personality under reference. This is largely due to my understanding of the qualities in him right from his early years.

As defined by circumstances of his birth, a native of cosmopolitan Owo town in Ondo State reputed for producing egg heads and movers and shakers of public and private industries, Akeredolu is a child of destiny and never daunted by challenges. He opted to study Law and gave it all his best. The desire for education gave him the privilege of democratic activism. No wonder why young Lawyers often deferred to him as their mentor .The strength of any man is his ability to rise each time he falls. He contested as Governor and lost. He never gave up, he repeated the struggle and won. God time is always the best. Simply put, he is simplicity personified, a mixer, humble, loyal and generous to a fault. He relates with friends and acquaintances with the fear of God.

The people of Ondo state have a lot to still benefit from his milk of human wisdom, intelligence  and very frank  principles that could only be find in great mentor history  in the likes of, Chief Obafemi Awolowo, Nelson Mandela, Julius Nyerere and Abraham Lincoln, all of blessed memories etc.

Right from Loyola College, Ibadan, a school reputed for high standard which I have the opportunity to attend with the Governor during the highly competitive secondary school days, I saw in him ability to deliver in position of higher responsibilities, always passionate about man development and the immediate society. His other side is that, he can show aggression when he faces challenges from expected and unexpected quarters. He made history in his chosen career by becoming Senior Advocate of Nigeria, SAN, and steadily rose to become the Chairman of the Nigeria Bar  Association, NBA. There is no way all these experiences would not rub on his understanding and performances as a public office holder .His intimidating credentials married with the necessary combination of technocrats and seasoned politicians in Ondo State would always make the difference in his assignment as number one citizen of Ondo State. 

Aspiring leaders and politicians have a lot to learn from his sagacity and mien given his voyage and track, walking where Angels fear to tread.

Like in every creature, everyone deserves opportunity to serve and complete good works of an administration especially in a country where second term in office is entrenched in the constitution. That “Aketi” is seeking for a second term in office speaks volume of his determination to complete unfinished projects in Ondo State. He would like to continue the rehabilitation of schools, provision of health facilities, upgrading roads in all the local governments, modern markets uplift, gender development, economic prosperity, landmark  innovations, giving the security alternative “Amotekun” right footing, developing the tertiary institutions, building a very strong traditional system and above all, leaving an endurance legacy of a Servant Governor.

Ondo people earned my respect in the way they marry principle with action, there is no nonsense in their dictionary and would always call, a spade a spade, no matter whose ox is gored.

The task of leaving affairs of the States in credible, tested and experienced hands is a collective task everyone must performed. It is time again for the sun to shine in Ondo State as history beckons at all in indigenes and residents to decide in the fast approaching governorship election. 

Femi Alaka, an Ibadan based Industrialist and Public Affairs Analyst

   

About author
Time Nigeria is a modern and general interest Magazine with its Headquarters in Abuja. The Magazine has a remarkable difference in editorial philosophy and goals, it adheres strictly to the ethics of Journalism by using the finest ethos of the profession to promote peace among citizens; identifying and harnessing the nation’s vast resources; celebrating achievements of government agencies, individuals, groups and corporate organizations and above all, repositioning Nigeria for the needed growth and development. Time Nigeria gives emphasis to places and issues that have not been given adequate attention by others. The Magazine is national in outlook and is currently being read and patronized both in print and on our vibrant and active online platform (www.timenigeria.com).
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The Missing Middle of Infrastructure Finance: Why Capital Still Fails to Become Infrastructure

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  By Chidi Nwafor  In October 2023, a Gulf sovereign wealth fund quietly closed a $2 billion allocation to global infrastructure, earmarked in part for emerging-market energy and transport assets. The announcement drew the usual applause: another sign, commentators said, that institutional capital was finally waking up to the infrastructure opportunity in the Global South. Eighteen months later, less than a tenth of that allocation had actually left the fund’s balance sheet. Not because the mandate had changed. Not because the fund had lost appetite. According to two people familiar with the portfolio, the constraint was simpler and more uncomfortable: there were not enough investable projects to put the money into. This is not a story about a reluctant investor. It is a story about capital that wants to move, cannot find enough places willing and able to receive it in a form it can underwrite, and quietly waits instead. Multiply that fund by the hundreds of pension schemes, sovereign wealth vehicles, commercial banks and infrastructure funds now carrying dedicated allocations for emerging-market infrastructure, and a pattern emerges that rarely makes it into a headline: the world is not short of capital for infrastructure. It has capital in historic abundance, sitting adjacent to a historic infrastructure gap, unable to cross the distance between the two. The Comfortable Explanation  The explanation on offer at every major infrastructure summit is a familiar one. Global infrastructure investment needs run into the tens of trillions of dollars over the coming decade; committed capital falls well short; therefore, the problem is one of insufficient funding, and the solution is more of it: more pledges, more blended-finance facilities, more climate funds, more multilateral capital increases. It is a comfortable explanation because it assigns responsibility clearly to governments who under-fund, institutions who under-commit, and it offers a clean remedy: raise more. It is also, on close inspection, not what the evidence shows. Pension funds globally hold trillions in assets under management with explicit infrastructure allocations that remain structurally underweight, not because trustees have rejected the asset class but because deal flow meeting their risk and governance thresholds has not materialised at the pace their mandates assume. Sovereign wealth funds report the same pattern. Commercial banks with dedicated project finance desks describe pipelines that look full at the term-sheet stage and thin dramatically by financial close. Development finance institutions, whose entire purpose is to absorb risk that commercial capital will not, routinely report that their binding constraint is not capital adequacy but the volume of bankable transactions their teams can originate and structure in a given year. None of this fits the scarcity narrative. All of it fits a different one. Availability Is Not Deployability  Capital availability and capital deployability are not the same condition, and the conflation of the two is doing real damage to how the world thinks about the infrastructure gap. Availability asks whether money exists somewhere with a mandate that could, in principle, be pointed at infrastructure. Deployability asks something much narrower and much harder: whether a specific project, at a specific moment, has been engineered, structured, documented and de-risked to the point where an investment committee can approve it without exception. The first condition is met, overwhelmingly, across nearly every category of capital that matters to infrastructure. The second is met by only a small fraction of the projects competing for it. The result is a market that looks, from the outside, like a financing gap, and functions, from the inside, like a conversion problem: an abundance of capital on one side, an abundance of infrastructure need on the other, and an underbuilt set of mechanisms in between capable of turning one into the other at any meaningful scale. Where the Conversion Breaks  The break does not happen at the ends of the process. It happens in the middle, in the unglamorous sequence of work that turns a plausible concept into an instrument a fiduciary can sign. A promising transmission project needs a feasibility study rigorous enough to survive institutional scrutiny rather than optimistic enough to attract early interest. It needs offtake arrangements that hold up under real counterparty and currency risk, not the counterparty risk assumed in a base case. It needs environmental and social documentation calibrated to the standards of the institutions being asked to fund it, not the standards of the jurisdiction hosting it. It needs a legal and commercial structure that allocates risk in ways a commercial lender, not only a development financier, will accept. It needs a sponsor capable of executing what has been proposed, not merely capable of proposing it. Each of these is ordinary project finance discipline. None of it is exotic, and in mature infrastructure markets it happens as a matter of course, absorbed into systems built over decades: specialist advisers, standard-form contracts, established procurement norms, deep pools of transaction expertise. What is missing in the markets where the infrastructure gap is largest is not the standard itself but the machinery that meets it. Projects arrive at investment committees with ambition intact and preparation incomplete, and that gap is treated, again and again, as an individual project’s failure rather than what it actually is: a structural absence in the systems responsible for producing investable transactions at scale. The Missing Middle  This is the Missing Middle of Infrastructure Finance: the institutional architecture that sits between capital that wants to move and infrastructure that needs building, and whose incompleteness explains far more of the global infrastructure gap than any shortfall in committed funds. 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None of these are new ideas in isolation. What is missing is their assembly into a coherent system, deliberately funded and institutionally accountable, rather than scattered across donor-funded pilots that end when the grant does. The African Dimension  Africa makes this dynamic unusually visible, and consequently offers an unusually clear opportunity to correct it. The continent’s infrastructure financing need, by any measure, is vast. Less understood is that the shortfall is disproportionately one of preparation rather than capital. Nigerian gas-to-power, off-grid solar and mini-grid developers have each demonstrated that individual projects can clear the bankability bar; what has not emerged is systemic pipeline scale, a steady stream of comparably prepared projects large enough to absorb the capital already circling the sector. The pattern repeats, with local variation, from grid infrastructure in East Africa to transport corridors in West Africa. Interested capital is rarely the scarce input. Investment-ready projects are. The Global Comparison  Mature markets solved this problem gradually and mostly invisibly, through decades of institution-building that predates the current infrastructure conversation: specialist project finance units inside banks, standardised PPP frameworks, established regulatory playbooks, deep benches of transaction lawyers and engineers who move between deals rather than between one-off assignments. Emerging and frontier markets are not being asked to meet a lower standard. They are being asked to meet the same standard without having built the same machinery, and then being told, when deals fail to close, that the problem is insufficient funding….
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